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American basketball superstar Michael Jordan, owner and chairman of the Charlotte Hornets, listens at a press conference for the 2015 NBA Basketball Herren USA China Games in Shenzhen city, south China s Guangdong province, 11 October 2015. The Charlotte Hornets made several key acquisitions this offseason, including trading for Nic Batum and drafting Frank Kaminsky. But if Michael Jordan, the team s principal owner, is asked the biggest move they made this offseason was Jeremy Lin. From the Xinhua News Agency, quoting MJ during his time in China for the NBA Global Games 2015 recently: Jordan made specific mention of Jeremy Lin, who joined in the Hornets from the LA Lakers this summer. Jordan saw it a successful deal, We just got Jeremy Lin, who I think is going to be our biggest acquisition. His penetration, his shooting capability, his point guard savvy, he can really pass the basketball, his energy about the game of basketball something, Jordan said. Michael Jordan calls Jeremy Lin Charlotte s biggest acquisition.
via Imago
American basketball superstar Michael Jordan, owner and chairman of the Charlotte Hornets, listens at a press conference for the 2015 NBA Basketball Herren USA China Games in Shenzhen city, south China s Guangdong province, 11 October 2015. The Charlotte Hornets made several key acquisitions this offseason, including trading for Nic Batum and drafting Frank Kaminsky. But if Michael Jordan, the team s principal owner, is asked the biggest move they made this offseason was Jeremy Lin. From the Xinhua News Agency, quoting MJ during his time in China for the NBA Global Games 2015 recently: Jordan made specific mention of Jeremy Lin, who joined in the Hornets from the LA Lakers this summer. Jordan saw it a successful deal, We just got Jeremy Lin, who I think is going to be our biggest acquisition. His penetration, his shooting capability, his point guard savvy, he can really pass the basketball, his energy about the game of basketball something, Jordan said. Michael Jordan calls Jeremy Lin Charlotte s biggest acquisition.
NASCAR has been involved in a tussle with some teams of the sport for quite some time now. It’s the new media deal and its revenue split that have been causing the majority of the problems between the organizers and the team owners. Recently, journalist Adam Stern shared a tweet with an article highlighting the details of the feud.
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As per the article from Stern, NASCAR teams, through the Race Team Alliance, have expressed dissatisfaction with their revenue share. Since the 2008 recession, NASCAR teams have struggled to secure sponsorship deals, leading to a decline in the sport’s performance indicators. This dissatisfaction with the league revenue brought the teams together, leading to the formation of the Race Team Alliance in 2014.
Teams' decision to publicize their revenue sharing dispute with @NASCAR last fall infuriated league brass at the time and turned some longtime relationships frosty, but the sides have begun meeting again and hopes are rising for a possible deal. https://t.co/PtmdMwhBvI
— Adam Stern (@A_S12) January 31, 2023
Michael Jordan and Curtis Polk back the RTA
The alliance, consisting of 16 teams that field 36 cars in the Cup Series, has greater insight into NASCAR’s finances since the sport’s sanctioning body went private in 2019 and released sensitive financial information to the teams.
They now believe they deserve a larger share of the revenue as they claim that NASCAR’s assets make up 93% of the sport’s value, while their assets account for only 7%.
Moreover, Michael Jordan and Curtis Polk, who invested in the sport through 23XI Racing, also support this view. In 2023, teams are expected to receive around $201 million in TV money and $210 million in 2024. According to comments from NASCAR, teams believe the next media cycle will result in increased revenue for the league.
During negotiations, Polk has compared NASCAR’s revenue splits to those in other sports, such as the NBA. Teams and drivers believe they should be compensated higher for their contributions to the sport.
Fans criticize NASCAR over the revenue split dispute
Taking a look at the overall picture, fans soon chimed in with their ideas and thoughts surrounding NASCAR.
When Jordan brings his people to the table the bullshit is gonna get called what it is!! For too long the series has taken advantage of the owners “love for racing” and they’ve let Nascar capitalize on that financially! Jordan coming to Nascar has been a blessing to the Owners!
— Nate Barnett (@NateB65) January 31, 2023
The teams are fed up, flat out – and something needs to be done to bridge the gap
— Woodleaf (@maxwoodleaf) January 31, 2023
Nascar needs to realize the teams have all the advantage here. They have some of the most brilliant kinds in Motorsports, plus the highest caliber drivers. All it takes is a few big teams and drivers breaking away and starting/joining a new series before nascar goes under.
— Nate (@nascarnate48) January 31, 2023
Thing is this is to be expected: It's all about disagreeing to a point where everyone can agree. It has to work for both the body and the sport, and this is one where the teams don't like it but the sport does. It'll work out soon, but the kinks will take some time to be right.
— Theel (@Theel48) January 31, 2023
Nascar need to wake up to reality with their Uber-expensive bloated GT3 cars.
The other thing they seem to forget is all the big teams are owned by people over 70 years old, some like JGR have no clear succession plans.
— Latex Montreal (@Spascrutineer) January 31, 2023
Do these negotiations include any changes to the other series? More $ for the xfinity & truck guys would go a long way
— The Lib of Nascar🌐 (@nascarLib) January 31, 2023
RTA is a union. The sponsorship model is broken. Nascar has never had an MJ type owner to contend with.
— Gregorius Maximus 🇺🇲 (@RedStormComin) January 31, 2023
The fans are the ones that will be paying the price for, through higher ticket/merchandise prices and more commercials or streaming subscriptions.
— gel29 (@MostlyGlory) January 31, 2023
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Furthermore, according to Stern, Jim France and the old guard, including Hendrick, Penske, and Gibbs, may hold the key to resolving the revenue split negotiations between NASCAR and its teams.
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Although the split is one of two negotiations faced by NASCAR this year, it is seen as the more challenging one. On the other hand, NASCAR feels confident in its negotiations with media companies due to the sport’s stability in viewership, finishing the 2022 Cup Series season with an average of 3.04 million viewers, a 4% increase from the previous year.
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