Kyle Larson Opens Up Charters for High Limit Racing Doing What NASCAR Couldn’t

It is public knowledge how NASCAR and its Cup Series teams have been struggling with the new charter agreement deal. While the teams look frustrated with the lack of profit, Kyle Larson has come up with a tempting solution for his sprint car series, High Limit Racing.

Five-time World of Outlaws champion Brad Sweet and Larson started the dirt track circuit in 2022. While 2023 witnessed the competition’s first season, it promised an exciting watch. With 12 races this year, the competition plans to expand up to 60 events in 2024.

Kyle Larson shows NASCAR what its Cup Series teams have been craving for

Not long ago, NASCAR President Steve Phelps confirmed its Cup Series teams are currently not a profitable endeavor. A lot of it comes down to the fact of how the existing Charter Agreement is set up. While the teams look to push for a large portion of television revenue in the new deal, any agreement is yet to be reached. It is agonizing from a Cup Series team’s point of view and rightly so.

At the same time, Kyle Larson has taken a bold step along with co-founder Brad Sweet to create a new charter system in High Limit Racing. The primary agenda behind this initiative is to give team owners enterprise value.

As reported by Sports Business Journal, the High Limit version will offer 10 charters in total over the next two seasons i.e. 2024 and 2025. The top five full-time teams in the year-end points championship of 2024 will get the first batch of charters.

The other five will be awarded at the end of the 2025 season to the highest-finishing teams without an existing charter to their name. The calculation for this will be based on the average year-end points total from the 2024 and 2025 seasons. What’s most interesting is how Kyle Larson and Brad Sweet plan to distribute media revenue in 2026.

WATCH THIS STORY: Kyle Larson Believes NASCAR’s Multi-Billion Dollar Media Rights Deal Is a Step in the Right Direction

All the chartered teams will benefit by getting 50% of High Limit’s annual digital streaming revenue. The only criteria to be eligible for this revenue is to compete in every race, under the terms of the system currently being drafted by High Limit.

Indeed, this is a tempting prospect for any team owner. Furthermore, Brad Sweet detailed the thought process behind this move.

High Limit Racing Series co-owner Brad Sweet wants to reward invested team owners in the competition

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Just before the 2023 season ended, Live Fast Motorsports sold its charter to Spire Motorsports. With this being a clear indication, it is evident how teams have been less motivated to be invested in the NASCAR Cup Series. While the financial burden gets too much to handle, High Limit Racing Series co-owner Brad Sweet understands that clearly.

Sweet believes that for the competition to grow, the teams need to grow simultaneously as well. With this in mind, the new charter system will come into place. Speaking more in detail about it, he said, “(Sprint car racing) has changed over the last four to five years with streaming money coming in and some money goes to teams.”

What Kyle Larson and Sweet wanted to achieve was clearly evident in the latter’s words. He said, “Ultimately what we want to do is build High Limit and truly align ourselves with the team owners, who are the backbone of the sport and allow us (drivers) to showcase our skillset. We want to reward teams with a charter or franchise that aligns our interest so a revenue share as we grow together, they’ll be a part of the growing process.”

Clearly, this is more than motivating if you are a team owner. While Kyle Larson & Co. have come up with an interesting solution, should NASCAR take some inspiration from them? Let us know your thoughts in the comments below.

READ MORE – Kyle Larson Unmasks True ‘Money’ Motive Behind His High Limit Racing Series’ Midweek Runs