NASCAR is not only racing and speed, it’s also big business, and the stakes are very high. Some teams have been able to work themselves to the top, with great financial support and good sponsorships. Here are the seven richest NASCAR teams.
7. Roush Fenway Keselowski Racing: $75M
Roush Fenway Keselowski Racing, formerly Roush Fenway Racing, has a net worth estimated at $75 million. This makes it one of NASCAR’s richest teams.
The team races in the Cup Series and has drivers Brad Keselowski, a co-owner, and Chris Buescher. Roush has a long history in NASCAR. It started as Roush Racing and became Roush Fenway Racing after Fenway Sports Group bought a 50 percent stake in the company in 2007.
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6. 23XI Racing: $150 million
Michael Jordan and Denny Hamlin co-founded 23XI Racing in 2021. The current value of this team is around $150 million. This valuation is based on the team’s recent history in NASCAR, and its ongoing growth as a competitive team. Nonetheless, 23XI Racing has secured sponsorship and partnerships from big companies such as McDonald’s, DoorDash, and Monster Energy.
The team has Bubba Wallace who drives the number 23 Toyota and Tyler Reddick who drives the number 45 Toyota. Since Michael Jordan, one of the most popular athletes worldwide, backs 23XI Racing, the company has strong prospects for development and higher valuations in the future.
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5. Team Penske: $152 million
Team Penske is one of NASCAR’s wealthiest teams. The team is owned by Roger Penske and is part of a big business empire that includes the Penske Corporation, IndyCar, and others. Team Penske’s net worth is approximately $152 million.
The NASCAR operations are its largest source of revenue and profits. Indeed, they have clinched the Cup Series championships in 2022 and 2023. Team Penske has also been propelled by partnership, sponsorship and its success in various forms of motorsports.
4. Richard Childress Racing: $158 million
Richard Childress Racing (RCR), one of NASCAR’s richest teams, was founded by Richard Childress in 1981 after he retired from driving. The team’s success escalated especially with Dale Earnhardt as its driver, delivering many championships in the 1980s and 1990s.
Currently, RCR competes in NASCAR’s Cup Series, Busch Series, and Craftsman Truck Series. It has an estimated net worth of $158 million. But, some issues, such as poor performances of the drivers Kyle Busch and Austin Dillon, have raised concerns about the future of the team.
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3. Stewart-Haas Racing: $165 million
Stewart-Haas Racing (SHR) is one of NASCAR’s richest teams with an estimated value of $165 million as of 2020 estimates. Gene Haas and Tony Stewart founded it in 2002. The team has enjoyed much success, having secured multiple championships and Cup Series wins. It also fields cup and Xfinity series teams.
However, SHR said that it will cease its NASCAR Cup operations at the end of the 2024 season and reorganize under a new entity in 2025. This decision has been made due to the team’s struggle with sponsorship and performance issues, even though the team has been quite successful.
2. Joe Gibbs Racing: $230 million
Joe Gibbs Racing is one of the richest teams in NASCAR with a value of $230 million, according to Forbes. Established in 1992 by Joe Gibbs who was a former NFL coach, the team has made its way to the top in the sport. JGR has clinched a number of championships and has great drivers such as Tony Stewart, Kyle Busch, and Denny Hamlin.
It owes its success to sponsorship and a credible racing program that always races at the top level. It’s this financial and competitive nerve that put JGR as one of the top NASCAR teams only second to Hendrick Motorsports in overall value.
1. Hendrick Motorsports: $315 million
Hendrick Motorsports is the richest and most valuable team in NASCAR. It has an estimated value of $315 million, according to Forbes. Established by Rick Hendrick in 1984, they have been one of the most successful teams in the sport on and off the track. Sponsorship revenue stands at nearly $120 million every year, making the team financially profitable.
This helps them to lure talents such as Jeff Gordon, Jimmie Johnson and Chase Elliot. Their management skills in areas such as merchandising see them outperform other top teams like Joe Gibbs Racing. Hendrick Motorsports still stands at the top of the NASCAR financial pyramid.