Report: NASCAR Wants to Buy Charters From Race Teams

What’s Happening?

Adam Stern of Sports Business Journal reports that the most recent charter offer from NASCAR to the teams would allow the France family to purchase a NASCAR Cup Series charter and own a Cup Series race team. Stern also notes that the current offer on the table is a seven-year deal with a seven-year option.

• The France family has owned NASCAR since its inception in 1948, and Jim France currently serves as NASCAR’s Chairman of the Board and CEO. The France family has never owned a NASCAR race team in any capacity. However, Jim France owns an IMSA team, Action Express Racing, which finished second in the Rolex 24 at Daytona in January.
• The family also has a short history of racing in NASCAR. NASCAR Senior Vice President of Racing Development and Strategy Ben Kennedy is a former driver who won a Truck Series at Bristol in 2016. Kennedy is the son of NASCAR’s Executive Vice Chair, Lesa France Kennedy.
• Fans were surprised to see this. Does this mean we could soon see a France family-owned and operated Cup Series team?

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