Report: NASCAR Cup Teams Agree NOT To Extend Charter Negotiation Period

What’s Happening?

On Thursday, Adam Stern reported that NASCAR and the teams “Unanimously agreed” to allow the negotiation period for the charter agreement to end without a further extension. The window had previously been extended at the end of December. Stern reports that due to the negotiation period ending, race teams can “Technically” look at other racing series.

• The NASCAR charter agreement runs from 2016 until 2024. The charter agreement means the race teams function more similarly to franchises in other sports. Whoever purchases a charter commits to compete in the full season in exchange for guaranteed starting spots and a certain amount of the purse from every race.
• According to Stern, sources said that a deal was “Months away”. However, he did say that industry executives expect that a deal will be struck. If a deal is not struck, it opens up the possibility of NASCAR and the team owners splitting up.
• Fans are concerned with this announcement. Many are unsure what the future of the sport looks like with the charter negotiations taking a tough turn.

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