A quarterly meeting was boycotted by NASCAR teams today
NASCAR is set to enter a new tv agreement following the 2024 season. At the same time, the current charter agreement will also expire.
Charter teams are the 36 teams who are guaranteed a spot in the field. They receive a small portion of the tv revenue generated from NASCAR coverage.
Current TV Revenue
65%
Tracks
25%
Teams
10%
NASCAR
Denny Hamlin details negotiations with NASCAR and the teams
Teams are paid based on their finishing position in a race, the series ending standings as well as their performance over the previous three seasons.
Teams have noted that the current system is a broken business model. They are looking for big changes with a new agreement ahead of the 2025 season. Currently, sponsorship funds a bulk of the teams.
They are looking for a much larger portion of the tv revenue to help create healthy race teams. Headlines were made just a few months ago after a meeting between the teams and NASCAR had owners exiting the meeting noting the two parties were ‘Far Apart” on a new agreement.
“We’re very far apart,” Jeff Gordon stated in October 2022.
NASCAR teams looking for more money; Series issues statement
Now, the tensions have risen even further. On Wednesday, NASCAR had their quarterly meeting scheduled with the teams, the team elected to boycott the meeting according to NBC Sports.
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NASCAR statement
NASCAR issued the following statement on Wednesday afternoon:
“NASCAR is committed to open and productive dialogue on a regular basis with all industry stakeholders. We remain committed to continuing discussions in the spirit of collaboration and with the shared goal of growing our sport for the benefit of all stakeholders.”
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