HomeSportsJimmie Johnson: Cup owners remain 'united' in seeking new financial plan with...

Jimmie Johnson: Cup owners remain ‘united’ in seeking new financial plan with NASCAR

The 2025 Cup season is still about 10 months away and no agreement has yet been reached to extend the charter system, but Jimmie Johnson says the team owners remain a “united group.”

NASCAR’s charter agreement — established in 2016 and guaranteeing teams certain financial payments — expires after this season. Teams are trying to make charters permanent.

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NASCAR Cup Series Autotrader EchoPark Automotive 400

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The Texas Motor Speedway race has been moved to the spring for the 2024 season.

Teams are also seeking additional revenue with a new media rights deal starting next season. Under the current model, tracks get 65% of the media rights money, teams get 25% and NASCAR 10%.

Leaders of the cup team said in October 2022 that the current economic model was “broken.” Jeff Gordon, vice chairman of Hendrick Motorsports and member of the team owners bargaining committee, spoke in February about “frustrations” because no deal has been made although he remained optimistic that it would happen.

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NASCAR chairman Steve Phelps told NBC Sports in March that “we have some things in place to close the gap. The gap is not a gap. It’s just a gap. I think there are a number of things that both sides would like to see as part of what an expansion would look like.”

NASCAR: Cup Practice and QualifyingNASCAR: Cup Practice and Qualifying

NASCAR: Cup Practice and Qualifying

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The Cup Series races Sunday afternoon 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 state of affairs between team owners and NASCAR.

“I think it’s going to come well into the year… Right now it’s still on the table,” Johnson said. “I know we feel like the clock is ticking, but when you look at how much time is left, we’re just into the eighth, maybe ninth inning of what really needs to happen in negotiations for all parties. “

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When asked if the main issue is money or something else, Johnson said: “To take a statement from Mr. (Rick) Hendrick: ‘It’s not about the money until it’s about the money.’ Ultimately, I think there are protections that team owners look for for longevity that absolutely support things for them financially.

“Of course there are discussions about funds that come through the TV partnership on the front end and that are important. You know, it was interesting to watch. This is my first time really in this world as a team owner, and I’ve been listening a lot more than talking and really letting the pros do their job.

“But ultimately what has been most impressive to me is how the team ownership group has stayed together. I think as a united group we are a lot stronger and hear a consistent message. That is something that has been more difficult for owners in the past, but the ownership group has been very committed to that and I think that has been very helpful.”

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