🏎 Charter Crossroads

NASCAR and teams can't come to terms as charter agreement deadline passes

Author

Kyle Dager
February 02, 2024

Good morning! Thankfully, it’s been a nice, slow news week… Enjoy your Friday as we get ready for the return of NASCAR with the Clash in LA this weekend!

^^That’s what I would be saying if there wasn’t MASSIVE news being broke literally every day this week! So much news that Parker is back for another POV AND we even get an emergency podcast episode dropping later today!

Parker’s POV

Written by: Parker Kligerman

The global superstar mega racing championship known as F1 made its feelings about a new team very clear this week. In an incendiary release, it denounced the Andretti Cadillac bid for a new team, saying that maybe they would consider it when they really need the help, or in 2028.

Worst of all, they insulted a national hero and our most recent F1 champion, Mario Andretti, and his family, with their brazen remark saying they would add more value to the Andrettis than the Andrettis would add to F1.

The American racing world was rightfully angry. I was angry. But the truth is… Right now, they are right. If we look at the landscape of TikTok-ified algorithms and cheap dopamine hits, there is no room for history or substance.

We are living in the trends era, where trends can hit fever pitch in a day and be gone in a week. Or, in F1’s case, post-Netflix show, seem to hang around with a bit of a hangover in the form of many, many billions in additional sponsorship & merchandise revenue.

Does a 12th team change that? Does it give this trend more fuel? Will it stop F1 from inevitably fizzling as the US public realizes at best four cars have a chance to win and usually, it’s just one car? No, no, and no.

I hope Andretti and Cadillac get their chance, but I fear it won't be until F1 really needs the help again, which could be never.

Oh… I almost forgot. Also, this week, a driver announced he is changing his racing suit from black to red in 2025, even though this whole year he will have to wear black. Many will love to be dramatic about this, but the truth is probably a lot simpler than anyone realizes.

Ferrari has been investing in their F1 program and cleaning house over the last two years. If there was ever a time that they can rise to prominence again and give this driver their 8th world championship, the 2026 rule change is it.

This is Lewis Hamilton's chance to show he's the difference maker. It’s Ferrari's chance to show how serious they are and that even though they have had very little success in the last decade, they are still the top dog in F1.

Lewis Hamilton wins a record 8th world championship for Ferrari!

That would be worth hundreds of millions, maybe billions. A generational talent, creating generational value with a brand that has excited car people like me for generations - Poetry.

The algorithms went wild for that one, almost like F1 planned it.

📈 Trending 📈

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Wednesday’s Results

Charter Crossroads

NASCAR and its teams are at a crossroads 🚧 as their charter negotiation window closes without an extension, signaling tension before the 2024 racing season. With teams heavily reliant on sponsorship dollars, they're vying for a bigger cut from NASCAR's hefty $7.7B media deals. 💰 NASCAR's counter? A budget cap to balance increased funding requests. The stalemate reflects deeper issues: teams seeking financial stability and a fairer share of profits, versus NASCAR's push for sustainable spending practices. 💸

The financial standoff centers around the distribution of NASCAR's media revenue, 🎥 with teams advocating for a 50/50 split. Disagreements over accounting methodologies further complicate the issue. Teams, currently facing profitability challenges, aim for higher charter payouts to reduce their dependence on sponsorships. While a resolution seems distant, the mutual dependence between NASCAR's brand and its teams suggests an eventual agreement, 🤝 though it might take months to actually materialize. 📅

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