According to a new report, charter prices are skyrocketing ahead of the 2022 season.
Several teams are looking for a charter that will guarantee them a spot in every race of the 2022 NASCAR Cup Series season. Obtaining one, however, is more difficult than it appears, as costs continue to increase into the eight figures.
According to the Sports Business Journal, the next charters sold will cost “at least $12 million.” Sources told SBJ’s Adam Stern that this price will be a 100 percent premium over the charters that sold in 2020 for an estimated $6 million.
With the purchase of two charters from Spire Motorsports, Kaulig Racing became the first organization to break this pricing barrier. Although NASCAR and its teams do not provide financial details about deals, sources tell SBJ that Kaulig spent $8 million and $10 million for the two charters, respectively. There is presently no information available about the Chip Ganassi Racing charters obtained by Trackhouse Racing.
Several teams are still looking for charters for the 2022 season.
While the vast majority of companies have signed charters for the 2022 season, there are a few that have yet to do so. Kurt Busch’s No. 45 Toyota Camry continues to be pursued by 23XI Racing, while Ty Dillon’s No. 94 Chevrolet Camaro is being pursued by GMS Racing.
On October 10, GMS team president Mike Beam told reporters that his quest for a charter was “an continuing soap play.” He also stated that if they are unable to acquire a charter, the team will play without a home during the 2022 season. All they’d need is for Dillon to qualify for every race on the calendar.
Spire Motorsports will bring some excitement to the season in 2022. With two Cup Series entries, the team could be both a buyer and a seller. Spire presently has a charter for Corey LaJoie’s No. 7 Chevrolet, but it may add another before the end of the year.
Front Row Motorsports was in talks with 23XI Racing, causing co-owner Denny Hamlin to announce that the No. 45 has a charter in hand. FRM, on the other hand, pulled out of the contract in mid-October. After the agreements fell through, Hamlin stated that he and 23XI Racing were still committed to growing to a two-car operation.
In 2016, NASCAR introduced the Charter System.
NASCAR and the team owners met in Charlotte on February 9, 2016 to announce the next… Nokia News – Quick Recap