All but two teams that compete in the NASCAR Cup Series have signed an agreement with the sanctioning body to extend its charter agreement, with new revenue sharing provisions, for the next seven years.
The two hold outs are 23XI Racing and Front Row Motorsports.
The Associated Press reported that the deals were signed on Friday night but that those who signed we’re ‘coerced and threatened to do so’ and that ‘sign or we will revoke your charters’ according to sources close to the matter.
NASCAR has not negotiated through the media and does not comment on such matters. Beyond the quotes provided by the AP, there is no other public commentary about the state of negotiations prior to the deals being signed.
Front Row also issued a statement.
“Front Row Motorsports is not going to comment on its charter discussions at this time.”
Denny Hamlin, in a scathing back-and-forth on Wednesday during NASCAR Cup Series media day, said the league was being unreasonable and did not respect the contributions of the teams. Curtis Polk, Michael Jordan’s longtime business partner, wore a message on his shirt Sunday before the Southern 500 at railed against an anti-disparagement clause caked into the latest proposal.
Front Row Motorsports team owner Bob Jenkins told Sportsnaut in July that he stood with larger teams in their pursuit of a ‘fair deal.’
Charter negotiations timeline
What the charter system is
Why it’s a doomsday scenario if a deal is not reached
Teams hired top antitrust lawyer against NASCAR
Jeff Gordon on why the business model needs to change
Michael Jordan says NASCAR will die without charter permanence
Denny Hamlin says teams just want break even revenue
NASCAR’s June offer to teams ‘was worst yet’
Denny Hamlin on why charters need to be permanent
Smaller teams unified with larger teams
NASCAR, teams making progress on charter deal but hurdles remain
Steve Phelps speaks to Kevin Harvick in wide ranging interview
How drivers feel about the state of the negotiations
Hamlin says negotiations will continue until NASCAR is reasonable