RTA Chairman Rob Kauffman is planning to step down from his position, capping a more than decade-long run in charge of the coalition of NASCAR teams that spearheaded the formation of the now crucial charter system.
The association was first created in the summer of 2014 as NASCAR teams sought to find ways to deal with the downturn in the sport that stemmed from the Great Recession of 2008. As a co-owner of Michael Waltrip Racing but also a titan from the finance world who had experience with billion-dollar deals, Kauffman was elected chairman and helped spark talks with NASCAR over what eventually became the charter system, which is effectively the sport’s version of franchising. Charters that were initially only being sold for a couple million dollars are now worth around $100M, industry executives say.
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Now, with the charter system permanent and labor talks done for the next several years, Kauffman will finally step down from the position, allowing a new chairman who is presently an investor in NASCAR to fill the position.
A successor has not yet been named, but the search is underway, according to RTA Executive Director Jonathan Marshall. Marshall will continue in his position.