Charters — which were implemented in 2016 by executives and team owners — provide teams with increased business certainty and the ability to work in conjunction with NASCAR.
Story continues below
- Trending: Owner of Albuquerque smoke shop accused of trafficking drugs
- KRQE En Español: Jueves 20 de Enero 2022
- COVID: State responds to new CDC guidance for schools
- New Mexico: Teen father of baby thrown in dumpster releases statement
The surge in value is the result of increased demand in NASCAR with the introduction of the Next Gen car and a revamped business model, which promotes cost-saving. There are 36 charters in a field of 40 cars that compete in the NASCAR Cup Series.
- Owning a charter guarantees a portion of the purse for every NASCAR Cup Series points race.
- NASCAR has the right to remove a charter if a team finishes in the bottom three of the owner standings for three consecutive years.
The Good and Bad
NASCAR went from a public company to a private one in 2019 after buying the balance of International Speedway Corporation for roughly $2 billion.
The company stopped releasing earnings after the 2015 season, but driver Jimmie Johnson revealed in November that its earning potential has dropped by roughly 50% since then.