NASCAR Holdings sent its Cup Series teams a new counter-offer in recent days in charter system talks, but some teams are once again viewing the latest proposal as one they are unlikely to sign, sources say.
Teams and NASCAR are said to have largely agreed to the split of the money for the next TV deals, which appears to signal that at least some degree of progress has been made in recent months. But the sides have been unable to bridge disagreements in other areas. Teams in NASCAR are independent contractors and don’t own equity in NASCAR Holdings, but the sides have ideally been hoping to sign a deal that would result in them working more closely together than ever in the next term, such as jointly selling sponsorship.
Earlier this week before the latest offer was transmitted, some industry executives said certain teams were optimistic that the new offer would be good enough for them to agree to. But today, four people familiar with teams’ thinking said that at least some teams are dissatisfied once again with key terms in the latest offer, suggesting that negotiations are likely to continue late into the summer. SBJ could not establish whether the displeasure with the latest offer was unanimous across all 15 teams.
The offer from NASCAR is for seven years with a seven-year option after that, concurrent with the fresh media agreements from 2025 through 2031.
