"Nascar is trying to sc**w the teams": Fans pass their verdict on charter agreement as some teams “may hold out and keep negotiating”

With the newest Charter deal on the table, fans reacted to how the same could affect the teams. NASCAR's latest charter deal was signed back in 2015. The officials have been negotiating a new charter agreement for over two years now.

As per journalist Adam Stern, NASCAR wants the agreement signed by the teams before the postseason commences. However, while some teams are already preparing to sign it, a few others have decided to keep negotiating.

Stern stated:

"Some Cup Series teams are preparing to sign @NASCAR's charter agreement and could do so by the end of this weekend, per sources, although others may hold out and keep negotiating."

"NASCAR has pushed to try to get a deal done this week before the playoffs start," he further added.

Several fans reacted to the announcement with one saying that NASCAR was trying to "sc**w" the teams.

"We all know Nascar is trying to sc**w the teams.. Hendrick and Gibbs will sign," the fan said.

"Family owned company, NASCAR has all the leverage these teams can complain all they want it does no good," said another.

Here are some other reactions to NASCAR pushing the teams to sign the agreement before the playoffs begin:

"I’m sure it’s the small teams that are ready to sign. They have more on the line," a fan wrote.

"bruh gta 6 is gonna come out before 23XI signs a charter agreement… 😭" said another.

"Hold out. What’s NASCAR going to do? Trot out FRM, spire and RWR for the Daytona 500? Lmao please. The networks won’t have that," a fan commented.

According to reports, 25 percent of the revenues from NASCAR's media rights go to the teams, while the rest is received by the tracks and NASCAR. According to Newsweek, circumstances like these have kept these teams from staying competitive. However, the teams expect a better share of the revenue with the new charter agreement.

NASCAR president reflects on the need for changes in the charter agreement

NASCAR president Steve Phelps during practice for the NASCAR Championship race at Phoenix Raceway last year. (Source: Imagn)

NASCAR signed a new 7-year media deal with FOX Sports, NBC, Amazon Prime, and TNT Sports last year in November. The deal, valued at $7.7 billion could give the teams a hike in the share of revenue that they receive from NASCAR.

Speaking of the importance of this hike in a recent episode of Kevin Harvick's Happy Hour Podcast, the President of NASCAR, Steve Phelps said,

"If there's more money given, typically what happens is race teams want to take every dollar and then some and spend it to go fast."

"Which I get because it's a vicious cycle that exists," Phelps continued. "If you don't go fast, you can't get sponsorship, if you're not winning, you can't get sponsorship. We have seen over the last decade teams that don't run well, it's hard to get sponsorship, and they'll lose it, and will either be stolen by another team or worse yet, they'll leave altogether, which is not in the best interest of anyone."

NASCAR has included an anti-disparagement clause in its 2024 charter agreement, said Denny Hamlin, driver of the No. 11 Joe Gibbs Racing Toyota, in his podcast Actions Detrimental. With that said, will the new charter deal aid in the financial well-being of the teams in the future? The question remains unanswered for now.