A post from NASCAR reporter Bob Pockrass on X showed new filings from team owners, including $1 billion worth Rick Hendrick (via CelebrityNetworth.com), about NASCAR’s charter system. The filings were part of an ongoing lawsuit. If NASCAR loses, the charter system could be revoked, although it is not guaranteed.Pockrass, in his post, shared signed statements from Richard Childress and Rick Hendrick. Both explained why the charter system is necessary for the survival of teams. Rick Hendrick, owner of Hendrick Motorsports, said clearly that without charters, his team could not survive. Hendrick Motorsports is valued at over $1 billion, but he believes the current business model depends on the system staying in place.Richard Childress said much of the same in his statement. He wrote that charters create value for teams and make ownership possible. Without them, the model would collapse. Both owners requested that NASCAR permanently protect charters. The reason is simple: without guaranteed entry into races, teams cannot keep sponsors or plan long-term.Hendrick said that stability from charters is the only way his team can operate. Richard Childress explained this further in his sworn declaration. He said,“Given the challenging business model and economics that Cup Series team owners face, Charters are essential to creating enterprise value for teams. The Charter system has helped create long-term equity value and has allowed for team equity value to grow. Without Charters, the team ownership model is unsustainable.”In 2024, Rick Hendrick demonstrated the importance he placed on charters during lengthy discussions with NASCAR. After more than two years of negotiations, NASCAR gave teams a final deadline. Hendrick signed the deal, which secured charters through 2031, and said he was “tired” of the process but wanted stability.Not all teams agreed. Michael Jordan’s 23XI Racing and Front Row Motorsports refused to sign, but Hendrick said he was satisfied. He explained that the deal increased revenue, protected charters, and removed parts that teams did not like.Rick Hendrick's Hendrick Motorsports rebuild in 2018 showed the value of stabilityChase Elliott’s first Cup Series win at Watkins Glen in 2018 ended a long 37-race drought for Hendrick Motorsports. It was also the team’s 250th win in the Cup Series. That moment came after major changes inside the organization.In 2018, HMS retired the No. 5 car, moved Elliott to the famous No. 9, and added William Byron in the No. 24. Alex Bowman took over Dale Earnhardt Jr.’s old No. 88, and Jimmie Johnson stayed in the No. 48. Hendrick also moved all four teams into one shop to improve development of the new Chevrolet Camaro.Through the first 21 races that year, HMS went winless. Rick Hendrick admitted the team had to be patient and keep working. Speaking to Motorsports.com, he said,“This is the right time to be closing the gap and building that momentum. I’m so proud of all the folks at Hendrick Motorsports for keeping their head down and working hard.”When Elliott won at Watkins Glen, it proved the rebuild was paying off. Hendrick said one win was not enough to solve everything, but it gave hope and energy to the team. Elliott went on to win at Dover and Kansas, showing momentum had returned.