Home/NASCAR

via Imago

via Imago

0
  Debate

Debate

Is Tony Stewart's exit a sign of deeper financial woes plaguing NASCAR's future?

23XI Racing and Front Row Motorsports might be getting some good news! With Stewart-Haas Racing ceasing operations at the end of the 2024 season, both teams were interested in purchasing a charter to expand their NASCAR Cup Series operations for next year. However, despite reaching a financial agreement with Tony Stewart’s team, the sanctioning body’s approval was pending to close the longstanding saga. That could come to an end very soon.

According to a prominent NASCAR insider, the charter purchases are finally expected to go through. With reputed anti-trust attorney Jeffrey Kessler leading the lawsuit, the possibility of both teams adding to their existing charters amidst the ongoing uncertainty feels like a big win.

Will NASCAR finally approve the sale of SHR charters?

ADVERTISEMENT

Article continues below this ad

It seems like Riley Herbst could finally have his future resolved soon. The Xfinity Series driver, who is currently racing for Tony Stewart’s team has been linked with a move to 23XI Racing for the 2025 season. However, that was subject to the third charter purchase going through, a process that was delayed because of the ongoing legal proceedings. As things stand, the team, co-owned by Michael Jordan and Denny Hamlin, already has Bubba Wallace and Championship 4 contender Tyler Reddick at the helm but is aiming to expand its operations.

According to a tweet posted by Bob Pockrass, the FOX Sports journalist wrote, “Teams attorney Jeffrey Kessler said he expects the purchases of charters from SHR to go forward.” The news will also bring music to Bob Jenkins’ ear, as the Front Row Motorsports owner bought a charter from Tony Stewart’s team in the region of $20-$25 million in May. As things stand, the team has confirmed Todd Gilliland and Noah Gragson will be competing for them in 2025 while a third driver is yet to be announced.

Both teams have filed a preliminary injunction, which will allow them to race under the 2025 charter agreement while the lawsuit drags out. What this means is that 23XI Racing and Front Row Motorsports will retain their charters during this timeframe and will have a guaranteed spot for each event along with any prize money from potential race wins. Attorney Jeffrey Kessler is confident about their chances after the first hearing as he said, “We made our case that we’re right on the facts, we’re right on the law and hopefully the judge will agree.”

 

What’s your perspective on:

Is Tony Stewart's exit a sign of deeper financial woes plaguing NASCAR's future?

Have an interesting take?

However, NASCAR has claimed that since 23XI and Front Row Motorsports have not signed the charter proposal, the sanctioning body will run 32 charter teams and eight open cars to field a total of 40 participants for every event. That might change if the organization is forced to approve the sale of Tony Stewart’s charters for the two teams. Will the France family be strong-armed into recognizing the deals signed with Stewart-Haas Racing before the end of the 2024 season? Time will tell.

Tony Stewart opens up about ongoing lawsuit dispute

ADVERTISEMENT

Article continues below this ad

Trending

“Hendrick Runs NASCAR”: Joe Gibbs & Co’s Protest Being Shut Down Amid Chevrolet Favoritism Enrages Fans

Kyle Larson Gives the Shock of the Season After a Miserable Round of 8 Sees the Former Champ Crash Out

Kyle Petty Stirs Outrage In NASCAR Fans With Bold Take on Chevrolet’s Blatant Race Manipulation

Situation Looks Bleak for Rick Hendrick and Co. as New Revelations Cement Allegations Against the Chevrolet Camp

When Stewart-Haas Racing announced its intention to cease operations, the decision sent shockwaves throughout the NASCAR world. After all, the team has featured some of the biggest names in the sport, including the likes of Kevin Harvick, Tony Stewart, Kurt Busch, and Daniel Suarez. However, it also highlighted a glaring problem that financial instability is a real problem for long-term sustainability, especially for teams that rely on sponsorships for sustenance.

via Getty

Sharing his views about the anti-trust lawsuit, Tony Stewart feels that now is the perfect time to depart from the sport. He said, “You look at what’s going on with 23XI and Front Row Motorsports right now, with their battle with NASCAR and the direction that things are going. It’s not a direction that I want to be a part of. This is the right time. This was never a part of a master plan, but this is — as this year has gone on, this has become very clear, that this is the right time for me to get out on the sport.”

ADVERTISEMENT

Article continues below this ad

Claiming that “it’s more competitive now getting sponsors than it’s ever been”, Stewart is looking forward to closing the curtains on his involvement in sport once and for all. However, Gene Haas will remain invested in NASCAR for the foreseeable future, as the team is set to retain one charter in the Cup Series. The rebranded Haas Factory Team will feature Cole Custer at NASCAR’s highest level while Sam Mayer and Sheldon Creed will be joining their Xfinity Series operations.

 

Have something to say?

Let the world know your perspective.