10 charter teams will share a large portion of the streaming revenue in the national dirt sprint car series
The High Limit Sprint Car Series is owned by Kyle Larson, Brad Sweet and it’s broadcaster partner FloRacing. The dirt sprint car series has been rapidly growing since it’s recent birth.
In this off-season, High Limit purchased the All-Star Circuit of Champions from Tony Stewart. They’ve also drastically increased the number of dirt sprint car races for 2024.
High Limit Sprint Car Series buys ASCOC
As they’ve made moves, many national drivers have now committed to running the series full-time in 2024. And, now more interest is certainly on the way as a charter system is going in place.
For 2024, High Limit will be awarding $5 million to their teams via event purses. Charter revenue in the future will certainly sweeten the deal for race teams that take part in the series.
In 2016, NASCAR started their charter system. It was a first for the racing world, bringing in franchises to the world of stock car racing.
Charters guarantee a starting spot in every NASCAR Cup Series race. With charter possession, teams also buy into revenue sharing as a portion of the tv revenue is distributed to charter backed teams.
36 charters were initially issued. The value of the charters have steadily increased. And in the last 12 months, they’ve drastically increased due to supply and demand.
Many teams are now interested in joining the NASCAR Cup Series. Few teams are looking to get out of the sport. The combination has caused the most recent charter sale to be an outstanding $40 million.
NASCAR charter sold for $40M to Spire Motorsports; New record
How does the High Limit charter work?
10 charters are set to be handed out over the next two seasons. 5 will be awarded at the end of 2024 and another 5 at the end of the 2025 season.
At the end of the 2024 season, the top 5 teams in points will be awarded the first batch of charters. It only counts for teams that can full-time with the series.
At the end of the 2025 season, the top 5 in points that do not already have a charter will be gifted a charter. After 2025, 10 teams will have a charter.
Media revenue will be shared to charter backed teams beginning in 2026. The ten charter teams will collect 50% of the streaming revenue earned for the series, annually.
For comparison, NASCAR currently awards charter teams 25% of the tv revenue. However, with NASCAR’s version set to come up for renewal, teams are looking for a larger portion of the pie.
Dale Earnhardt Jr perplexed as NASCAR charters valued at $30m
Kyle Larson says that NASCAR racecars are too loud
