NASCAR and its Cup Series teams have been working on a new charter agreement, as the current deal is set to expire after the 2024 NASCAR season. The urgency to finalize a new agreement has intensified, with some teams even considering skipping NASCAR’s documentary with Netflix in 2024 due to the ongoing negotiations. However, there is now some optimism about reaching a new deal.
According to Adam Stern from the Sports Business Journal, NASCAR and the teams have made significant progress by largely agreeing on the financial distribution of TV money. This agreement marks a major step forward, though other issues still need resolution. These include the teams’ requests regarding governance and new revenue opportunities, as well as the question of whether charters should become a permanent aspect of NASCAR.
While several obstacles remain, the consensus on the financial split of TV money is a substantial development. It’s crucial for the sport to have charters in place by the start of the 2025 NASCAR season to avoid potential complications. The hope is that NASCAR and the teams will reach a comprehensive agreement soon to prevent any negative outcomes.
