According to a report from Bob Pockrass of FOX Sports, NASCAR will not repossess the ownership charter of Rick Ware Racing No. 51.
NASCAR regulations allow for the sanctioning body to repossess or force a team to sell their charter if that car finishes in the bottom three in the standings amongst the 36 chartered teams three years in a row. It is not a requirement but NASCAR has the option.
The rule was designed to encourage competition and avoid a team acquiring a charter simply with the intent of start-and-parking it to maximize non-competitive value. What is now the Rick Ware Racing No. 51 is 34th in the standings with two races to go. It finished 35th and 34th the past two seasons when it was the Premium Motorsports No. 15 and then the Rick Ware Racing No. 15.
Rick Ware Racing has made strides this season but has also invested in its infrastructure, aligning itself with RFK Racing and signing Justin Haley to a multiyear agreement — things that no doubt factored into NASCAR’s decision.
The charter began its life as the HScott Motorsports No. 15 before being sold to Premium Motorsports.
It has become a poignant conversation in recent months as the value of an ownership charter has climbed significant since the system was introduced for the 2016 season. NASCAR granted 36 pre-existing teams the equivalent of a franchise status in stick-and-ball terms.
Those 36 franchises are guaranteed a starting spot in every race and a guaranteed base amount of revenue. NASCAR Cup Series races are capped out at 40 starts so up to four non-chartered cars may compete in each race but their revenue is significant less than those franchised by the charter system.
Charters could be had as affordably as a couple of million of dollars three or four years ago but the most recent charter sale, Live Fast Motorsports No. 78, was reported to be sold to Spire Motorsports for $40 million.
Matt Weaver is a Motorsports Insider for Sportsnaut. Follow him on Twitter.