With about 10 months until the 2025 Cup season, no agreement has been reached on an extension to the charter, but Jimmy Johnson said the team owners remain a “unified group.”
NASCAR's charter agreement, established in 2016 and guaranteeing teams certain financial payments, expires after this season. The team aims to make the charter permanent.
How to watch Sunday Cup races in Texas: start time, weather and TV information
Texas Motor Speedway racing has been moved to the spring for the 2024 season.
The team is also seeking additional revenue with a new media rights deal starting next season. Under the current model, tracks receive 65% of media royalties, teams 25% and NASCAR 10%.
cup team executives In October 2022, he said the current economic model is “broken.” Jeff Gordon, vice chairman of Hendrick Motorsports and a member of the team owner bargaining committee, said in February. Regarding “dissatisfaction” with not being able to complete a transaction Although he was still optimistic that it would happen.
NASCAR President STeve Phelps told NBC Sports in March:. A gap is not a ditch. It's just a gap. I think there are some things that both sides would like to know as part of what the expansion will look like. ”
Good news and bad news for NASCAR Cup teams ahead of Texas weekend
The Cup Series races on Sunday afternoons at the 1.5-mile speedway.
Johnson, co-owner of Legacy Motor Club, met with the media Saturday morning at Texas Motor Speedway and was asked about the situation between the team owner and NASCAR.
“We're going to see a decline over the course of this year…that's still the trend at this point,” Johnson said. “I know it feels like time is running out, but when you look at how much time is left, we're right in the eighth, maybe ninth inning of what really needs to happen in the negotiations for all parties. I just came in.”
Asked if the main problem was money or something else, Johnson said, “To borrow a line from (Rick) Hendrick, “It's not about the money until it's about it.'' That's true.'' At the end of the day, I think what team owners are looking for in terms of longevity is protection that will definitely shore up their finances.
“Certainly, there is a discussion about the significant money that comes to the front through the TV partnership. As you can see, it was very interesting. This is the first time I've come into this world as a team owner and I have nothing to talk about. We listened more than we did, and we had professionals actually do the work.
“But ultimately what was most impressive to me was how the team's ownership group has come together. Hearing a consistent message has made us much more of a unified group. I think we've come out stronger. This has been more difficult than ever for the owners, but the ownership group has been very committed to it, and I think that's helped tremendously.”
