Teams 'losing their patience' with NASCAR over revenue distribution

Talks over the 2022 NASCAR Cup Series teams' allocated budget have been bubbling under the surface for quite some time now, with little to no avail in favor of the competitors on the track. The governing body sat down with representatives from the team last weekend to discuss the matter, which has been spoken upon by several owner-operators in the sport such as Denny Hamlin and Brad Keselowski in the past.

The meeting last weekend was addressed by NASCAR after the Teams Negotiation Committee sent their proposal to the sport in June earlier this year, only to be looked at last week. Four members of the committee, namely 23XI Racing co-owner Michael Jordan, his business partner Curtis Polk, Hendrick Motorsports co-owner and vice chairman Jeff Gordon, Roush Fenway Keselowski Racing president Steve Newmark and Joe Gibbs Racing president Dave Alpern spoke to the media on Friday about the proceedings for the same.

The collective goal that representatives from several teams had in mind was to increase revenue for the teams while working in conjunction with NASCAR for the upcoming revision of the sport's TV rights. The process that is due to take place in 2025 will see the governing body negotiate with the highest TV rights bidder along with the charter allocations for the different teams in the sport, both of which are yet to be worked upon.

After an already delayed response from the sport, Michael Jordan's business partner Curtis Polk elaborated on how the demands were far from finalized on both ends. He said:

"After waiting three months and consistently asking them to please respond because our owners were losing their patience, we received a proposal with a minimal increase in revenue, and the emphasis was on cutting costs dramatically."

Polk also touched on the fact that the cost of NASCAR's Next Gen cars is largely fixed, which would mean letting go of crucial people in the teams, and said:

"The cost of the car is somewhat fixed. What would that lead to? That would lead to massive layoffs at our teams."

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NASCAR hopes to work towards finding a solution with the teams

NASCAR's take on the recently held meeting between the Team Negotiation Committee and the governing body was leaning towards finding a solution in the future. A press release on behalf of the governing body read:

"NASCAR acknowledges the challenges currently facing race teams. A key focus moving forward is an extension to the charter agreement, one that will further increase revenue and help lower team expenses. Collectively, the goal is a strong, healthy sport, and we will accomplish that together."

With owners from big teams such as Hendrick Motorsports and Joe Gibbs Racing also pushing for a policy change, it is only obvious that smaller outfits such as Kaulig Racing and Spire Motorsports will appreciate the increase in funding whenever it is finalized.