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Not raced full timeraced
AmenWho watches Nascar anymore, anyways? Support your local dirt track while you still can.
Great post! One reason behind this was they thought it would make teams that folded more valuable to the bigger teams which in that case it did. But so they sell their charters and what now? Rest of the season nothing. Till next year the same deal??? and the teams like the Wood Bros get nothing for all their years of putting a car out there??? Sponsors wont like that too much and was noted the Woods Bros might loose part of theirs over this deal now. Whoever is running Nascar now seems to be the same person running our economy and the stock markets.NASCAR says:
[BCOLOR=rgb(255, 255, 255)]The system affords Charter teams that remain in good standing more predictable revenue over the nine years of the agreement. Along with improved financial certainty, the new framework is designed to increase the long-term market value of teams and provide the ability to plan farther ahead with existing, new and prospective partners.
And-[/BCOLOR]
[BCOLOR=rgb(255, 255, 255)] Former Michael Waltrip Racing owner Rob Kauffman, who has two charters from his teams that ceased operations after last year, said he expects to sell his charters to JGR (for Edwards) and SHR (for Busch). Kauffman estimated the value of a charter at the "single-digit millions." The transfer of a charter must be approved by NASCAR, which will charge an administrative fee but not get a percentage of the sale. All NASCAR team owners will be allowed to see the transfer application, which would include the price of the charter sold. Charters can only be sold prior to the start of a season and can be transferred only once every five years.
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What it really means:
A NASCAR team will now have a value beyond the buildings, equipment, cars, etc. that are worth about 10 cents on the dollar when the team goes out of business. Now the owner can sell his charters to the highest bidder- something that they assume will increase in value season after season. NA$CAR gets to pocket an administrative fee for doing nothing. The owners wanted this. No one is going to sue.
I think it sucks that the extinct Mikey Waltrip team gets to raffle off two charters as an attendance prize for their participation. A team that started and ended in controversy, and posted very few wins, now gets a $3M windfall. The Wood Brothers raced for 65 years, won 100 races, and helped make made NASCAR a nationally recognized sport. But they didn't race full time during Brian France's randomly chosen time period so they get the priviledge of paying a ransom for one of the Charters.