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WATKINS GLEN, NEW YORK – AUGUST 08: NBA Hall of Famer Michael Jordan and co-owner of 23XI Racing looks on from the 23XI Racing pit box during the NASCAR Cup Series Go Bowling at The Glen at Watkins Glen International on August 08, 2021 in Watkins Glen, New York. (Photo by Jared C. Tilton/Getty Images)
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WATKINS GLEN, NEW YORK – AUGUST 08: NBA Hall of Famer Michael Jordan and co-owner of 23XI Racing looks on from the 23XI Racing pit box during the NASCAR Cup Series Go Bowling at The Glen at Watkins Glen International on August 08, 2021 in Watkins Glen, New York. (Photo by Jared C. Tilton/Getty Images)
In a turn of shocking events, someone seems to have leaked NASCAR’s value split. And while fans wait for FIA to release the 2021 Formula One budgets, fans of stock car racing can feast their eyes on some other numbers. Especially since Michael Jordan is the reason we have the value split.
Expectedly, NASCAR isn’t very happy about this leaked claim.
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In recent news, 23XI Racing‘s billionaire investor, Curtin Polk, who also happens to be Charlotte Hornets’ Managing Partner, revealed some information. According to the supporter of both of Jordan’s sporting team ventures, NASCAR earns 93% of its value from the league and tracks. While a remaining mere 7% comes from all the teams’ combined value. As reported by Sports Business Journal Author, Adam Stern.
This very value split alone is quite shocking, especially the fact that the investor claims all 36 teams only account for 7% of the value. So, just how rich is NASCAR? Interestingly enough, the sport replied to this claim in less than 24 hours. And they sure didn’t hold back.
Starn reported, “.@NASCAR feels that the 93-7 value split claimed by the teams is “misleading and disingenuous” because teams are only counting charter values, per a source familiar.”
While that could be a possibility, we are still unsure about the actual value split. So, both Polk, and NASCAR’s statements float on a bed of doubt. Because there are no concrete numbers to back either of the claims. But the fans sure have formed their allegiance with Jordan’s sponsor, as they believe it could be true.
NASCAR fans support Michael Jordan’s investor
We may or may not have real numbers, but the fans have spoken and it seems they found Polk’s worlds more believable.
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NEW YORK, NY – AUGUST 26: Basketball Hall of Famer Michael Jordan watches as Roger Federer of Switzerland plays against Marinko Matosevic of Australia at their men’s singles first round tennis match on second day of the 2014 US Open at the USTA Billie Jean King National Tennis Center on August 26, 2014 in New York. (Photo by Bilgin Sasmaz/Anadolu Agency/Getty Images)
The tracks hold the value? Yeah i'm sure the sport would be in shambles if it wasn't for Texas Motor Speedway
— Infinite (@Infinite_Ouya) October 7, 2022
Stock car racing doesn’t need nascar.
Nascar needs stock car racing— TeaMoo Salamii (@TeaMooSalami) October 7, 2022
This is a big problem…. Nascar should get majority but Tracks shouldn't be ahead of teams. There would be no track value if the teams didn't show up every week
— Austin (@Austin20997) October 8, 2022
I wonder what would happen if the teams got together and just formed their own series.
— The Plural of Moose is Moose (@ehershberger) October 7, 2022
So that's why Atlanta was made into a wide open pack race – to increase the value of the track
— Anthony Kernich (@AntJKernich) October 8, 2022
We’ve gotta give these owners a chance to make some money… for so long, it’s been about who can write the largest check… giving team owners a bigger piece would be a step towards not being as dependent on sponsorship.
— CB14 (@lreedgrant) October 7, 2022
While some fans are still not entirely sure about the amount claimed by the 23XI investor.
7% seems really like a low number. I mean has anyone seen the massive campuses that teams like Hendrick and Penske have? Also, are they factoring in SMI tracks too? Not saying that teams aren't the smallest portion of the pie, but it seems like it should be more than 7%
— Eric Saylor (@Saylor_Man) October 7, 2022
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no teams = no @NASCAR
— gascanman (@gascanman1) October 7, 2022
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WATCH THIS STORY: Michael Jordan’s Ultimatum to Denny Hamlin That Might See Him Pulling the Plug on $150 Million NASCAR Team
But what do you think? Could all teams and owners really account for just 7% of the value? Or, there’s more to it? Let us know what you think about this in the comments.
