Court documents show Nascar profit exceeded US$100m in 2024

• Nascar’s winning team will be paid US$2.8m in 2025 from a total purse of US$33.7m
• FRM owner Bob Jenkins revealed losses of over US$100m on his Nascar team
• Average cost of running a car in Nascar was just over US$20m in 2024

Court documents released in the ongoing lawsuit between Nascar, 23XI Racing, and Front Row Motorsports (FRM) have revealed that the series generated net income of US$102.6 million in 2024.

This was down considerably from US$536.7 million in 2023, though that figure was inflated by Nascar’s decision to sell the majority of the land at Auto Club Speedway in Fontana for nearly US$500 million.

The documents also revealed that the current payout model for teams is based on a two-year rolling average of finishing positions, rather than three years as under the previous charter agreement.

In short, the most recent season is weighted at 100 per cent and the second-most recent at 50 per cent. This average is then divided by the total number of outstanding shares to determine the percentage of money received by each charter.

For example, the team finishing first this year will receive US$2.8 million, corresponding to a payout percentage of 8.423 per cent. The total payout fund for 2025 is US$33.7 million, scaling to US$39.1 million by 2030.

A similar structure applies to race payouts, albeit with smaller percentages across the grid. For instance, this weekend’s season finale has a total purse of US$12.4 million, with the winner set to receive 5.16 per cent (around US$639,000).

A June 2025 deposition from FRM owner Bob Jenkins revealed that he has lost US$60 million since 2016 and over US$100 million in total on his Nascar team. Seven teams also participated in a study estimating that the average cost of running a Nascar entry would exceed US$20 million in 2024.

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BlackBook says…

The secretive inner workings of Nascar have been exposed to the public for the first time, adding significant weight to the lawsuit involving 23XI and FRM.

While the exact sponsorship revenue for each team remains undisclosed, it’s clear that the money teams receive directly from Nascar is nowhere near enough to ensure financial stability – as evidenced by Bob Jenkins’ substantial losses over the years.

It also explains why teams have been pushing so hard for permanent charters, given the lack of long-term financial security in the sport. But will this be enough to convince the court that Nascar operates as a monopoly?

Whatever the outcome, the lawsuit’s result will have a lasting impact on the Nascar landscape – which may explain why the organisation is so eager to reach a settlement before championship weekend.