Denny Hamlin Exposes NASCAR’s Greed as He Lays Bare the Truth Behind the Charter Negotiations for the Fans

Lately, there’s been a buzz behind the scenes in NASCAR that hasn’t quite made it to the fans yet. While big moves are being made in the background, it looks like business as usual to outsiders. There’s a growing sense of frustration among NASCAR team owners about how slowly the talks to renew the sport’s “charters” system are going. To tackle this, team owners have set up a “Team Negotiation Committee” (TNC), including big names like Michael Jordan, the co-owner of 23XI Racing.

The committee is meant to get everyone on the same page in group discussions. However, Jim France, steering clear of these group meetings, prefers one-on-one discussions with teams, which is stirring up quite a bit of confusion among fans. Denny Hamlin recently shed some light on all this backstage drama in a chat with Dale Earnhardt Jr, diving into what’s really going on behind the scenes and what these negotiations entail.

Denny Hamlin recently opened up about some key issues 

The teams have laid out four big asks: more money to run their operations, making charters permanent, having a say in NASCAR decisions to avoid surprise costs, and getting a cut of the profits from new business ventures.

Even though NASCAR is set to rake in more cash from a new TV rights deal they nailed down last November, there’s a block over how long charters should last. Jim France has told the teams he’s on board for extending charters for the same duration as the TV deal—seven years. But the teams are pushing for more; they want these charters, which can go for up to $40 million a pop, to be a forever thing to avoid the risk of their investment tanking.

But now, Denny Hamlin has had enough of the waiting game with NASCAR. Despite NASCAR COO Steve O’Donnell claiming the new charter agreement is very close, nothing’s been set in stone, and no big meeting has been called. On Dale Earnhardt Jr’s podcast, Hamlin let loose, sharing the gritty details with fans. He pointed out the uneven profit sharing among the sport’s big players—the tracks, the teams, and NASCAR itself. “To be quite honest, two of those stakeholders make nine-figure profits a year. And one stakeholder loses seven-figure profits per year. So, there’s clearly a disconnect,” he explained.

Hamlin didn’t shy away from discussing the current standoff over the charter agreement either. “We’re willing to give extra rights up to get that. They’ve said no. And then just governance, it’s certain protections that the teams need in case of transfer of ownership.” 

He also fired a shot or two at Jim France who has not been talking to the teams combined but rather on a one-on-one basis, saying, “We’re dealing with you know certainly one individual that won’t come out publicly and tell his story of why he won’t give these things to the teams that have invested heavily uh in putting the show on each and every week.”

But Hamlin’s not just airing grievances; he warned of serious repercussions if these issues aren’t resolved soon.

#11 JGR driver has issued a stern warning about the fallout if NASCAR’s charter negotiations stall out

Trending

Tony Stewart’s Failure to Escape NASCAR With Nearly $50 Million Profit Exposed

After Tony Stewart’s Exit, Gene Haas Forms “Pseudo” Alliance With Another Former NASCAR Cup Series Champion

“Good Riddance”: $3.5 Billion Partner Could Cut Off Backing to Rick Hendrick, Claim NASCAR Fans

“It All Just Becomes Fake”: When NHRA Icon Force Named His Potential Successors to Watch Out For

NASCAR Lawsuit: What Does the Preliminary Injunction Mean for the France Family?

With the current charter agreement set to expire at the end of 2024, there’s real concern about what happens next. If the agreement does not favor the teams, the lack of charters could deeply impact the teams, especially the smaller ones that have shelled out up to $40 million for their charters.

Hamlin, driving for Joe Gibbs Racing, was blunt about the potential consequences: “It would be ignorant of fans to say, ‘Well that’s great, no charters.‘ Well, then we just wouldn’t show up when we don’t need to. The Clash, we won’t show up at that, the All-Star Race, we wouldn’t show up at that. Maybe there are some races that pay less, we just won’t show up to those, it’s just not financially good.”

This tough stance isn’t just about the big teams like Joe Gibbs Racing or Hendrick Motorsports; it’s a significant issue for all. Reports from The Athletic suggest that most teams, even those not in the top tier, believe a deal is within reach. However, the landscape could get messy if only some teams agree to new terms while others hold out. Ultimately, a deal where everyone feels a bit shortchanged might just mean it’s a fair one.