What’s Happening?

On Thursday, Adam Stern of Sports Business Journal reported that, aside from Stewart-Haas Racing, two other charters have been on the market this season. To this point, nobody else has been linked to selling charters aside from SHR, so who could these other two “mystery teams” be? Does it even make sense for them to still be in the charter market?

• This report comes amidst rumors that NASCAR could further limit teams from four to three cars in the next charter agreement. Could this play a role in the current charter market?
• There are very few teams for which selling a charter would make any sense. Even then, which of these teams are willing to sell a charter?
• Few fans have gotten this report yet, but it would be a big surprise to many. There could be more charter movement than fans originally expected.

Rick Ware Racing

Rick Ware Racing has shown signs of progress this season after signing Justin Haley in the off-season. Their second car is doing okay, with Kaz Grala, Riley Herbst, and Cody Ware splitting the driving duties so far. With only one full-time driver, could RWR benefit from selling one of their two charters?

It could give them some extra money to invest in their top car, but multi-car teams tend to do better in the sport. More cars mean more resources and more data to improve. It would seem strange to sell a charter right as the team is beginning to improve.

Hendrick Motorsports

Hendrick Motorsports is the top team in NASCAR, so, why would they want to sell a charter? They may not want to, but, at some point, they may have to. HMS has four cars, and if NASCAR limits teams to only three, something has to give.

Jordan Bianchi reported that current four-car teams would be “grandfathered in”, but, the deal is far from finalized at this point. When teams were limited to only four cars in the 2000s, NASCAR forced Roush to downsize from five teams to four when contracts ran out. If that happens at HMS, maybe a charter sale could be in the near future.

Kaulig Racing

Everyone looks at Kaulig Racing as a team that could sell a charter, given its recent struggles, but that doesn’t connect with recent news surrounding the team. This offseason, team President Chris Rice denied rumors that the team was looking to sell, and he more recently denied rumors that Kaulig was looking to merge with Trackhouse.

It might make some sense on the surface, but after digging into the weeds, it doesn’t seem like something the team wants to do. Things can change, though, so, anything is possible.

Joe Gibbs Racing

Joe Gibbs Racing is in the same boat as HMS. They are a four-car team facing NASCAR’s potential three-car limit, and the length of time they will be “Grandfathered in” is uncertain. Maybe, at some point, they will be forced to sell a charter.

It could be easier for JGR to sell and downsize this year, given that Martin Truex Jr. could retire, but no one knows how that will pan out. Even then, if NASCAR allows Gibbs to remain a four-car team, they have no reason to downsize.

JTG-Daugherty Racing

JTG-Daugherty Racing has perhaps the most uncertainty surrounding it of any team on this list. In April, Adam Stern reported that team co-owner Tad Geshickter is reportedly considering taking his ownership and sponsorship from Kroger elsewhere. If that does happen, could JTG-Daugherty sell?

Why would they re-sign Ricky Stenhouse Jr. to a multi-year contract extension for 2025 and beyond? It’s hard to imagine the team would sell following that big of a move.

Overall, it doesn’t seem likely on the surface that any other charter sales aside from SHR will happen. It just doesn’t make much sense for many of these teams to sell unless they are forced to sell. Let us know on Discord or X what your take is, and don’t forget you can also follow us on Instagram, Facebook, and even YouTube.