Former NBA star Michael Jordan asks NASCAR to implement permanent charters. Negotiations between NASCAR and teams regarding a new charter agreement have been ongoing for the past two years, but no progress has been made. The issue of permanent charters has been a key point of discussion in these talks. Jordan, who is a co-owner of 23XI Racing, has now expressed his opinion on the matter.
Jordan believes that permanent charters are necessary for NASCAR to generate a new source of revenue and address the current financial deficit. Teams have long advocated for a larger share of the revenue pool, and the introduction of a new charter system is part of their demands. According to Jordan, NASCAR’s decision to maintain control of the charters is causing teams to miss out on significant opportunities. He warns that if this situation continues, teams may be forced to leave the sport due to financial constraints.
Currently, the revenue sharing format heavily favors NASCAR. Despite being the main contributors, teams receive only 25% of the broadcast revenue, while NASCAR receives 10% and race tracks receive 65%. Considering that NASCAR owns most of the tracks, they benefit even more. Jordan points out that, while NASCAR’s business is growing, this growth is not benefiting everyone financially. He believes this partnership is not healthy.
It is crucial for NASCAR to promptly resolve the charter agreement. Racing teams deserve greater support and a larger share of the revenue, considering their current financial situation.
