Stewart-Haas Racing reportedly active in talks to sell charters

Stewart-Haas Racing is at least listening to offers to sell charters, per a report from Bob Pockrass of FOX Sports.

Stewart-Haas, co-owned by NASCAR Hall of Famer Tony Stewart and Haas Automation founder Gene Haas, has not yet renewed its deal with Ford for the 2025 Cup Series season. Pockrass noted that the four-car race team has sent prospective buyers information on what it would take to purchase a charter.

Stewart-Haas underwent a change of scenery this past offseason following the retirements of Kevin Harvick and Aric Almirola. Josh Berry pilots the No. 4, Noah Gragson drives the No. 10, Chase Briscoe is behind the wheel of the No. 14 while Ryan Preece sits in the No. 41. After an underwhelming 2023 campaign, Stewart-Haas was under pressure to perform this season. The team also lost likely low eight figures in annual sponsorship revenue with the departures of Anheuser-Busch, Smithfield Foods and Hunt Brothers Pizza.

“We’re going to have to get some races into it,” Stewart said in February. “But if we’re not having the results we’re looking for, we’re going to start making some major changes. So, everybody knows that, everybody understands that. And it’s those guys at SHR to take what we have and make it better. … We need to see the needle moving in the right direction and make progress.”

Briscoe currently sits 14th in the points standings, followed by Gragson (19th), Berry (23rd) and Preece (29th). Preece is in the final year of his deal with Stewart-Haas. Should Stewart-Haas downsize, Trackhouse Racing, Legacy Motor Club, 23XI Racing and possibly Front Row Motorsports are candidates to expand. Spire Motorsports bought a charter from now-defunct Live Fast Motorsports for slightly under $40 million last year, the last charter trade in NASCAR.

NASCAR, race teams remain embroiled in charter negotiations

Complicating matters are the ongoing discussions between race teams and NASCAR on a new charter agreement. Both sides have been at a standstill of sorts for the past two years and appear to be far apart on a deal. At the root of the matter is race teams’ fight to secure permanent charters.

Under the current model, charters are not permanent franchises like the setup in other professional sporting leagues. Team can lose their charters due to poor performance on the racetrack or failing to field their cars week in and week out. As a result, most race teams lose money on a yearly basis.

Another topic being discussed is the amount of revenue sharing taking place between the racetracks, race teams and NASCAR itself. Race teams currently get 25% of broadcast revenue, tracks 65% and NASCAR 10%. Race teams are hoping to secure at least half of the revenue TV brings in. NASCAR notably announced $7.7 billion in media rights deals with FOX Sports, NBC, Warner Bros. Discovery and Amazon for 2025-2031.

“In all partnerships, if you grow the pie, that means your business is going to continue to grow,” 23XI co-owner Michael Jordan told The New York Times. “And to grow the pie, you’ve got to make sure everybody’s healthy within the partnership. If our ownership in NASCAR is losing money and NASCAR’s the only one making money, that’s not a good partnership.”