Nascar owners ‘could buy charters’ under latest proposal to teams

No member of France family can own a stake in charter under terms of current agreement.
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  • France family have owned Nascar since 1948
  • Nascar’s current offer to teams is seven years guaranteed, with an optional seven years after

The France family, who have owned Nascar since 1948, would be able to buy charters in the stock car racing series from 2025 under the terms of the latest proposal to teams, according to Sports Business Journal (SBJ).

The current charter agreement expires at the end of this season, but negotiations have been deadlocked for months with little sign of movement. Under the terms at the moment, no member of the France family that has an active role in Nascar management can own a stake in a charter.

According to SBJ, Nascar broached the idea of allowing the France family to own charters, but it received a lukewarm response from teams worried about a conflict of interest. However, there is precedent for this in fellow North American racing series IndyCar, as Roger Penske owns both the series and Team Penske.

The offer sitting with teams at the moment is reportedly for seven years guaranteed, with an option for an additional seven years. Under the terms of the agreement, the France family would be allowed to own charters with no restrictions.

There are also plans for a cost cap to be implemented in the next agreement, as well as rules that would allow private equity firms to invest into a charter.

As Nascar isn’t a franchised league, a majority verdict isn’t required for the new agreement to be approved. Teams have been putting on a united front until now, but SBJ reports that it can’t be ruled out that some of the 15 teams may sign the agreement.

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