UPDATE: Front Row Motorsports has agreed to pay between $20 million and $25 million for a charter from Stewart-Haas Racing, according to people familiar with terms of the transaction, a drop from the record fee paid for a charter last year.
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The drop in price from the record fee paid last year is largely a function of supply and demand, as there have been roughly half a dozen charters on the market this year, sources say, with four from SHR and a couple other teams that are open to selling one.
Also contributing to the situation is that NASCAR and teams have yet to formally agree on a new revenue sharing system and charter agreement. For the moment, that has seemed to limit demand to only teams already in the sport, as opposed to new outside investors.
ORIGINAL POST 5-29-2024: Executing its next stage of growth, Front Row Motorsports (FRM) will compete with three chartered Ford Mustang Dark Horses in the NASCAR Cup Series entries in the 2025 season while maintaining its championship NASCAR Ford F-150 team in the NASCAR Craftsman Truck Series.
“We have a very positive outlook on the future of NASCAR and as the sport plans for success, so do we,” commented Bob Jenkins, Owner, Front Row Motorsports. “Today that means having a plan for expanding back to three cars in the NASCAR Cup Series. I always have the vision to continue to grow and improve our team and that commitment and desire never changes. I am committed to the sport and its passionate fans and partners.”
The team is aware of the work ahead, but excited for the growth.
“It is good to get the news out now as we have a lot of work to do to prepare a new team,” said Jerry Freeze, General Manager, Front Row Motorsports. “All of us on the leadership team will be working through that, obtaining the parts and pieces needed for the new team. And, most importantly, adding to the dedicated and talented staff and culture that exists today within our organization.
“Starting a new team from scratch is always a challenge, but with the opportunities in front of us, the talent we have in our leadership, and a bit of a runway to get there, I am confident that we can produce three competitive programs out of the box for the 2025 season. We haven’t lost sight of what our goals for 2024 are, to get our teams into the playoffs for both series. If we can keep up the speed on track and have a little bit of luck to come our way, we can achieve our objectives.”
Today’s announcement comes off the news earlier this year of FRM extending and increasing its relationship with Ford Performance and a competition alliance with Team Penske.
Announcements regarding drivers will come later.
— Front Row Motorsports —
AND: Although Front Row did not state so on Wednesday, one of SHR’s charters has been sold to Front Row, according to people briefed on the situation but not authorized to speak publicly. Terms of the deal were not disclosed.
— The Athletic —