NASCAR’s France family looking to buy charters from 2025 and introduce an F1-like cost cap structure - Reports

Amid stalled charter negotiations between NASCAR and the Cup Series teams, the latest proposal from the company reportedly allows the France Family to buy charters and also plans to introduce an F1-style cost cap to limit team spending.

NASCAR was founded and managed by Bill France Sr. in 1948 and the sport has ever since remained under the control of the France Family through NASCAR Holdings. The charter system was introduced in 2015 to provide long-term stability to the existing teams. However, the current deal is set to expire at the end of the year.

The clauses in the current agreement prevent any member of the France family involved in the NASCAR operations from owning a charter. This provision could change in the next agreement as Sports Business Journal reported that the France Family wishes to buy charters in the future.

League owners running a team is evident in other motorsports. For instance, Roger Penske owns the IndyCar Series and Indianapolis Motor Speedway while managing an eponymous team. Jim France, owner of the IMSA series, owns the Action Express Racing team.

NASCAR's latest move has reportedly upset team owners, who have expressed their opinion against it. SBJ reported that it was unclear if the new clauses will be included in the final agreement.

The latest offer from the company also includes a plan to introduce a cost cap, which has already been successfully implemented in Formula 1. It was introduced in F1 in 2021, to make the series more competitive and financially sustainable. It prevents top teams from outspending their rivals to make gains.

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Brad Keselowski comments on NASCAR's latest charter proposal

RFK Racing co-owner Brad Keselowski was asked about his opinion on the most recent charter proposal. He didn't provide any details but stated that there was progress after months of stalled negotiations.

"I haven't formed a strong opinion yet. I, you know, would like a little bit more time before kind of going deep in record, but it seems like things continue to progress. But, you know, I'm not willing to go out on an edge and say that everything's done, so I'm not. But there's good progress and I respect that," he told Bob Pockrass at WWTR.

23XI Racing co-owner Denny Hamlin, on the other hand, stated that there was still "a ton of work to do" implying that negotiations hadn't progressed much. When Keselowski was made aware of Hamlin's comments, he said:

"I think there's probably some work to be done, but I don't know. I'm not ready to commit to anything."