One of the founders of Spire Motorsports has entered an agreement to purchase the NASCAR team owned by Rick Ware and is jumping back into the stock car series because he believes the current charters are grossly undervalued.
T.J. Puchyr, who in 2018 alongside Jeff Dickerson launched the Spire team to take over the charter that Furniture Row Racing could not unload, told The Associated Press on Thursday he and Rick Ware Racing have a deal for him to take over Ware’s organization next season.
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“I am bullish on wanting to build a three-car team. I believe in the France family and the direction of the sport and I want the rest of the shareholders and industry to know that I believe the charters are worth $75 million or more,” he told AP.
In his deal with Ware, Puchyr will keep Ware on board as a partner, also keep Ware’s son, Cody, in the No. 51 Ford, and retain all of the current RWR employees. Ware’s current second charter is leased to RFK Racing, but Legacy Motor Club made a legal claim that it had entered an agreement to buy that charter next season.
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Now, Puchyr and Ware are confident the second charter currently leased to RFK will be returned to their team in 2027, allowing Puchyr to expand the organization. He wants to buy a third charter that makes the organization a three-car Cup team by 2027.
— Associated Press —