NASCAR’s $2.8-Billion Family Losing Grip as Jeff Gordon’s Warning Goes Unheard

Originally, Bill France Sr. brought about the inception of NASCAR back in 1947. To this day, the organization is co-owned by his son Jim France, and granddaughter Lesa France Kennedy, the daughter of Bill France Jr. Besides being one of the most popular sports in the US, NASCAR is also a full-fledged, $100-million-worth entertainment business. Hence, a lot of money goes into the running of this organization. And it owes almost all its money to the teams.

However, the Racing Team Alliance (RTA) has had a bitter relationship with NASCAR. That was quite evident way back in 2018 when the France family urged Goldman Sachs to explore the opportunities for a probable sale of the organization.

Is the stock car racing promotion looking forward to selling the organization?

The RTA is actively looking for opportunities for exhibition races within domestic boundaries and on the international stage. For a high-value sport like NASCAR, the RTA’s request could be a suggestive move that hints at their growing impatience with the organization. Their decision to make these matters public highlights their frustration, which should be a clear warning to NASCAR. So how does it respond to these requests?

In a video uploaded by NASCAR Culture, it was reported that “NASCAR needs to tread carefully as the France family’s grip on the situation appears increasingly precarious. The legal landscape indeed appears to favor the teams, particularly with the lucrative loophole that has proven highly advantageous for the SRX. This situation does not bode well for NASCAR.”

According to a survey by NASCAR Culture, NASCAR’s response is inadequate. It is important to understand that the teams shoulder a significant responsibility in the prospect of NASCAR by obtaining and holding on to sponsorships that constitute 60-80% of NASCAR’s revenues.

Read more: Jeff Gordon Proud of His Hendrick Motorsports Employee as He Follows His Roadmap to Greatness 

The tussle between RTA and NASCAR might not end soon

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The rift between RTA and NASCAR found its way into the $800-million-worth media deal that NASCAR signed with ‘The CW Network’. According to ‘SportsProMedia’, the deal starts in 2025. As per the terms of the deal, the media channel will air all 33 Xfinity races live alongside the practice and the qualifying races, until the end of the 2032 season.

According to Jeff Gordon, NASCAR and the RTA are miles apart from discussing their financial split for the newest media deal. Despite sending proposals to the front desk of the organization, the RTA did not receive any likable response.

Now the question arises, will the team alliance bring out a strike and demand that the organization give them their due respect? And what if that does not happen? Will the RTA boycott the promotion and birth a new racing allegiance like SRX? Although these are pure speculations, the coming months might give some definite answers.

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