Asking prices for NASCAR charters have reached $20M, according to people familiar with the matter, despite continuing skepticism from some in the industry over the true value of the sport’s version of franchises. The most recent charter to trade was the now-defunct Starcom Racing selling its one to 23XI Racing late last year, and SBJ revealed at the time that the purchase price was $13.5M. That was already a record fee and a huge increase from where charters were priced just a few years before. A $20M purchase would represent another big jump: a 48% increase in just over half a year’s time.
Several factors are contributing to the rise in asking prices but most notable are that teams are hopeful, if not confident, that the next TV deal will be lucrative and see them get a bigger share of the total.
Teams that are seen as the most likely targets to sell charters in the coming years include Rick Ware Racing, Spire Motorsports and Live Fast Motorsports.