Several NASCAR team investors and industry executives feel charter values have gone up overnight with the establishment of evergreen provisions, with some predicting a near doubling of value right away.
This season, Legacy Motor Club paid Rick Ware Racing $45M for a charter, one of the 36 that make up the system established in 2016, and that system was at the heart of the $365M antitrust trial that was settled Thursday when NASCAR promised teams evergreen provisions that will allow them to keep charters permanently as long as they continually meet certain requirements.
Teams also will get added assurances or new guarantees on international media revenue, governance and future revenue opportunities in exchange for paying NASCAR a higher fee on charter transactions, according to multiple reports.
Nearly all of the industry executives with ties to teams contacted yesterday by SBJ felt the asking price for charters will now rise, with some being more bearish in predicting they will now at least top $50M in the next valuation. Those who were more bullish put the number closer to $90M-$100M.