NASCAR Rumors: Teams allegedly threatened into signing charter agreement

NASCAR’s Cup Series playoffs are set to begin, but the longstanding dispute between NASCAR and the teams regarding the charter system remains unsettled.

According to reports, all but two teams have agreed to the proposed deal, and others have been forced into signing the new charter agreement. 23XI Racing and Front Row Motorsports are the two teams that have not yet signed. These teams are considering expansion but have not agreed to the deal.

Jenna Fryer of the Associated Press reported that many team owners who signed the agreement did so under pressure and threats. This situation arises as teams seek a larger share of revenue and greater involvement in decision-making.

NASCAR has 36 charters available for teams, with four reserved for potential new car makers. Charters are important because they guarantee teams a spot in races and a part of the race prize and TV revenue. However, the current agreements will expire at the end of the year, and team owners are unhappy with NASCAR's proposed terms.

The situation may also affect the new season of the Netflix series, NASCAR: Full Speed. The teams might refuse to allow the show to use their branding without a new agreement in place.

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Team's Criticism of NASCAR's new charter proposal

For two years, NASCAR and the teams have been in negotiations regarding the conditions of the charter agreement.

The association recently presented a new draft of the charter to teams, offering a seven-year term with an option for renewal. The agreement will include more media rights revenue for the teams. Nevertheless, there remain uncertainties regarding whether this additional revenue will be sufficient to ensure financial stability and the extent of control teams will have over costly rule changes

The new draft also includes a rule that prevents teams from speaking negatively about the deal. Denny Hamlin, co-owner of 23XI Racing, mentioned on his podcast "Actions Deterimental" that he is concerned that smaller teams might feel pressured to accept deals that larger teams oppose. Investor Curtis Polk further emphasized this sentiment by wearing a shirt mocking the no-negative-comments rule at the recent Darlington race.

The team issued a statement today announcing that they have not met the deadline for signing the proposed agreement.

The playoffs kick off this weekend at Atlanta Motor Speedway, and NASCAR has yet to release a formal statement regarding the ongoing situation surrounding the charter agreement.