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The 2024 NASCAR Rumor Mill has seen rampant news of expansion from teams. Specifically, two teams look ready to expand, RFK Racing and 23XI. However, one lingering question remains as to how that will happen.
Expansion in the NASCAR Cup Series has two routes: chartered and unchartered.
A chartered entry is an entry fielded by a team that owns one of 36 charters introduced by NASCAR in 2016. Charters allow teams entry into all 36 NASCAR Cup Series races throughout the season. Charter ownership allows crucial revenue sharing between the teams, NASCAR, and the tracks. This money helps mend the gap that sponsorship does not.
Teams can sell their charters, typically in the millions, as they are rare to go on the market. Since 2016, multiple charters have been sold, with the price continuing to go upward. Buying a charter allows teams to safely add a car to their fleet and start a team easily. If a team decides to close up shop, it also allows for less financial risk, as the team has something of multi-million dollar value to sell.
Unchartered teams lack the revenue sharing that comes with owning a charter. Unchartered teams also have to worry about qualifying for races with more than 40 entered cars.
This year’s silly season was heavily affected by the closure of Stewart-Haas racing. The team owned four charters and prepared to sell three, as part-owner Gene Haas planned to run a car next season as the Haas Factory Team.
Of the rumored teams, Front Row Motorsports was the first to buy. FRM’s aggressive marketing was a sign that the team wanted to hold SHR’s spot as a multi-car team in the Ford camp.
Trackhouse Racing bought the second charter for a third car driven by Shane Van Gisbergen in 2025. Many expected Denny Hamlin’s 23XI to buy the third charter. Still a relatively new team in NASCAR, expansion looks like the next step in growth for 23XI.
However, in mid-August, rumors swirled that RFK Racing would gain Kroger’s support and, in doing so, expand to a third car. While shocking, the re-emerging team expressed interest in the past expansion. Now that they appeared to have one-half of the financial puzzle, it made sense to go forward in the process.
While many expected this, along with 23XI’s withholding from signing the new charter agreement, to mean that 23XI would not expand. However, many still hope that if things go as planned, both teams will grow.
The lingering issue is that two teams are potentially seeking one charter. Many, like insider Bob Pockrass of Fox Sports, expected 23XI to buy the final charter prior to 2025.
Of course, this clears up room for RFK to expand if 23XI’s plans drastically change. But, in the scenario that 23XI goes forward as planned, RFK is definitely in a tight spot.
While RFK has the opportunity to run an uncharted car, after all, most races fail to have 40 entries. However, Jordan Bianchi of the Athletic reported that RFK is unlikely to run an unchartered entry.
Where could this charter come from? While no other teams are reportedly likely to sell, the option to lease still exists. From time to time, teams lease a charter from their owners. However, it is still clear who that could be.
Rick Ware Racing has an open car, the No. 15. While they are an associate of RFK Racing, there is no indication they would lease this ride to another team. Nevertheless, when RFK finds its charter, it will be a major chapter in the very short history of NASCAR charters.
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