William Byron has been Rick Hendrick’s best driver this season. Adding a sixth win to his name in the playoff race at the Texas Motor Speedway, he is very likely to enter the Championship 4 race. Byron’s rise to the top level of NASCAR followed a perfect trajectory in many ways. After stints in Trucks and Xfinity, he stepped into the Cup Series for Hendrick Motorsports back in 2018. Since then, he has added many feathers to the team’s cap over the years. But not without fair returns.

As we head to the eighth playoff race at the Homestead-Miami Speedway, let’s take a look at the cost of the promise and potential that a driver of Byron‘s caliber brings to a NASCAR team.

William Byron’s potential earns him the trust of Rick Hendrick till 2025

After spending 5 years driving Hendrick Motorsports‘ #24 Chevy, William Byron had guaranteed enough to make Mr Hendrick renew his contract in 2022. By signing the 3-year extension, Byron agreed to stay with the team through the 2025 season. Continuing their association with the youngster as sponsors were Axalta Coating Systems, Raptor, Valvoline, and Liberty University. Liberty University has been a long-term sponsor for the driver, who also happens to be one of their students pursuing a degree in strategic communications.

While the exact figures in the contract were not disclosed, word among the community is that he is reportedly making $1.85 million a year at HMS. Talking about his latest negotiations, Byron had mentioned how they were particularly “different.” Making the deal under the representation of Prosport Management, the driver said in a teleconference, “You know, this is kind of my first deal outside of my rookie contract, and I think that it’s good to kind of understand the economic sense of the sport a little bit more as I’ve gotten older and start to understand all the moving parts and what goes into it.”

Though the exact numbers are not known, it is obvious that a good bump in salary would have been reflected in his pay cheque. But Byron, despite his young age, was clever enough to know that NASCAR’s television contract would soon translate to an increase in his bank balance.

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Proving his worth in 2023, William Byron looks forward to the rise of NASCAR

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Rick Hendrick’s bet to keep Byron in his ranks has largely paid off this season. A potential champion in the making, the driver has already been replacing legends like Dale Earnhardt Jr. on the record books. Back in 2018, when Rick Hendrick signed Byron and Alex Bowman together, it was speculated as a move to reduce the huge pay that he was giving out to Dale Earnhardt Jr and Kasey Kahne. In comparison to the many millions that he was shelving out to the veteran drivers, the youngsters were reported as making approximately $500,000 at the time. Six years later, the late cause of the team owner might be dwindling with the meteoric rise of Byron.

From an economic perspective, 2024 is supposed to be beneficial for drivers. NASCAR’s contracts with Fox Sports and NBC will soon be renewed for the 2025 season. Though the promotion will not be able to draw in as much money as the NFL, it is expected that the new deals would mark a substantial increase in the current annual payments to teams. Talking about it, Byron said, “For somebody like me coming into the sport, I’m 24 years old, and hopefully have a long career ahead and want to see the sport do well. […] And yeah, hopefully, we continue to, as drivers, benefit from the success of the sport.”

Building on the exciting times ahead, it was also announced a few weeks back that HP Inc. would serve as the primary sponsor for Byron’s #24 car for two races in the upcoming 3 seasons. With the driver looking good on the standings currently, a maiden Cup Series championship would go a long way towards pumping up his value further. The next step towards that will be at the Homestead-Miami this weekend.

Read More: Can William Byron Secure His Place in the Championship 4 With Texas Repeat?