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Dale Earnhardt Jr. co-owned JR Motorsports could potentially make the jump to the NASCAR Cup Series fueled by growing interest from private equity firms in the premier stock car racing series. JR Motorsports currently operates in the Xfinity Series and the zMAX CARS Tour.
Dale Jr. previously expressed regret over missing the boat on buying a Cup Series charter a few years ago as he deems the current prices are too high.
According to Sports Business Journal, the increasing interest from private equity firms and sports funds has generated speculation within the industry about JRM's potential jump to the Cup Series. If a fund manages to back Dale Earnhardt Jr. to buy a charter, one of NASCAR's most popular figures could become a Cup team owner.
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NASCAR's upward trend in recent months has reportedly sparked the interest of private equity firms and sports funds, who view the premier stock car racing series as an investment opportunity. The increasing valuations of the charters are allegedly enticing the investors.
Trackhouse Racing recently welcomed Marc Lasry’s Avenue Sports Fund as a "significant minority investor" in the team. Similarly, Joe Gibbs Racing has secured a deal with Harris Blitzer Sports and Entertainment, and Fenway Sports Group has been a long-time investor in RFK Racing.
With the reported growing interest from equity groups and sports funds, NASCAR is drafting new regulations for investments in the new charter deal. Reports indicate that the new rules may block sovereign wealth funds from investing in teams. Other restrictions include the maximum percentage a fund can acquire and the details surrounding who governs/controls the team.
The timeline for finalizing the new charter deal remains uncertain with Cup team owners pushing for permanent charters. In contrast, NASCAR has reportedly proposed a seven-year renewal with an additional seven-year option.
Dale Earnhardt Jr. on buying a NASCAR Cup charter
JR Motorsports is co-owned by Dale Earnhardt Jr. and his sister Kelley Earnhardt Miller. Dale Jr. has previously expressed an interest in becoming a Cup Series team owner and has explored opportunities with his sister Kelley.
A couple of months back, the NASCAR Hall of Famer discussed the prospects of JRM becoming a Cup Series team on his Dale Jr. Download podcast. He revealed that while he has had discussions with various team owners about possible partnerships, none of them have been fruitful.
"Me and Kelley (Earnhardt Miller) have talked about getting into it and we have seen some opportunities to do that. We're still talking to people. We're still at the table talking to different teams about maybe partnering, or investing ... we're always open to hearing what somebody thinks partnership with us would look like. None of them to this point [think] that's a win for everybody ... that's a perfect match," he said [at 21:11].
Dale Earnhardt Jr. also claimed that he doesn't wish to buy a charter with the intent of making profits and emphasized that becoming a Cup team owner is a lifelong journey for him.
