NASCAR teams are using a new leverage piece in search of a charter agreement with NASCAR
Last season, NETFLIX aired a show circling the NASCAR Playoffs. NASCAR: Full Speed highlighted playoff drivers in the five episode documentary.
For 2024, NASCAR has agreed to continue the show with NETFLIX. Last year, the show was funded by NASCAR at a cost estimated at $5M.
However, teams aren’t sure they’ll participate.
The current NASCAR charter agreement is set to expire at the end of the 2024 season. The 10-year agreement will need to be renewed at the start of the 2025 season.
Charters guarantee 36 cars entry into every NASCAR race. It was designed as NASCAR’s version of franchise teams.
The most recent charter sale was estimated at $40M.
The lack of a TV deal for 2025 resulted in the initial stall of negotiations between teams. However, in November 2023, a TV deal was finalized with FOX, NBC, Amazon and TNT through the 2031 season.
New NASCAR TV Deal: Fox, NBC, Amazon Prime, TNT through 2031
Since that TV deal was reached, there’s still been little progress made between the teams and NASCAR.
Back in February, NASCAR teams elected to let charter negotiations expire. That’s set the tone for 2024 as both sides struggle to come to a new agreement.
NASCAR charter negotiations have expired without an extension
NASCAR and the RTA have been playing a game of tug of war regarding multiple elements of the agreement. Teams are seeking a larger piece of the TV revenue pie in addition to making the charter system permanent among other asks.
NASCAR teams looking for more money; Series issues statement
Denny Hamlin says it costs $18M to run a NASCAR team
NASCAR teams threaten to pull out of NETFLIX show amid charter negotiations
And in the latest charter agreement drama, it appears that some teams are considering pulling out of a possible 2024 NETFLIX show, if a new charter agreement isn’t complete at the start of the playoffs.
The 2024 Playoffs are set to begin on September 8, 2024 via Atlanta Motor Speedway.
NASCAR President says race teams are losing money
