Amid Ongoing NASCAR Saga Also Involving Rick Hendrick & Michael Jordan, JGR President’s Claim Countered With Kyle Busch Insinuation

If it can happen to the two-time Cup Series champion, it might as well happen to anybody else. Joe Gibbs Racing had to let go of Kyle Busch because it couldn’t find a sponsor for him. And this event has forced the teams to revisit the economic model of NASCAR.

Sponsorship deals currently source around 60-80% of the NASCAR teams’ revenue. And if a sponsor decides to stop their funding, the teams are left with no option but to salvage their survival. However, the teams are now demanding a shift in NASCAR’s business practices.

Just like other sports, NASCAR teams feel that TV rights fees and TV deal revenue sharing can help strengthen the economical system of the sport. And owing to this, the Team Negotiations Committee (TNC) put forth a seven-point proposal to spell out the details of the TV deal revenue plans.

However, NASCAR proposed a counteroffer. The governing body proposed a slight increase in revenue and suggested that the teams must focus on dramatically reducing their expenses. But this would mean laying off people and teams are not keen on doing that.

While talking about the issues and NASCAR’s suggestions, Jeff Gordon said; “We finally did get a response from them — and we’re very far apart.” Moreover, Joe Gibbs Racing’s president Dave Alpern reiterated the concerning situation and said that he was; “terrified of what happens after Coach (Joe Gibbs) is gone — I’m talking about survival.”

However, NASCAR fans think agree with Alpern’s statement. In fact, they felt that Joe Gibbs Racing could have dealt better with the Kyle Busch situation. Pointing out that the team lost its way after the demise of JD Gibbs, fans commented;

READ MORE: Kyle Busch Banking On “Fresh Start” With RCR After JGR “Aggravations and Mistakes”

But it’s not just Joe Gibbs Racing. Almost all teams are struggling due to the current financial system at one level or another.

What did the other teams and NASCAR say?

On Friday, four team representatives appeared in a media briefing in Charlotte to highlight the plight of NASCAR teams. Though they agreed that talking about it publically might upset the governing body. However, they said that NASCAR must see it in the spirit of finding an equitable solution.

While talking about the issues, 23XI’s advisor Curtis Polk stated that “This is not a fair system.” Furthermore, he advocated for a better financial structure. He said; “NASCAR is a money-printing machine, but the teams and drivers are putting on the show.”

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NASCAR on the other hand said that it acknowledges the challenges faced by the teams. Moreover, they said that they are working towards making the sport financially healthier and looking for ways to increase revenue.