“Yes but No”: Denny Hamlin Lets Slip NASCAR’s ‘Crafty’ Reluctance in Charter Deal Negotiations

There has been a positive update from the ongoing charter deal negotiations between the Team Alliance and NASCAR. Originally, NASCAR was firm on their offer of just extending the charters until 2027, which aligns with the new $7.7 billion TV deal. However, according to recent reports, it seems like the governing body had made a better-revised offer that could lure the teams to sign the extension.

However, despite the efforts by NASCAR, 23XI Racing co-owner Denny Hamlin states that nothing is finalized yet. Claiming that there’s still a ton of work to do, and also hinted at when the two parties could reach an agreement.

Denny Hamlin isn’t impressed by NASCAR’s new proposal

The teams have been asking NASCAR to address four pillars. Increased revenues to help the team support their operations, having a voice in the decision-making process, a share of revenue from new business prospects, and making the charters permanent. An agreement on this would see NASCAR consolidate its power, and that is not the position they want to be in.

According to a report by Bob Pockrass, the teams did receive a new proposal from NASCAR. And while they still aren’t offering permanent charters, they are willing to extend the new deal beyond 2031. While this was an improvement over previous offers, Denny Hamlin wasn’t too thrilled about the new developments. Sharing his take on the revised offer, he said, “Sort of, sort of. Yes, but no. You know the lawyers get certainly crafty with their words, but yes, but no.”

However, he further added that there’s still work to be done with the new agreement and shared a timeline for when a deal could be finalized. “Yeah, I think there’s still a ton of work to do. Not a little bit of work—quite a bit. So you know that’s going to be the priority over next; I don’t know how long. But a few months may be needed to get this thing a little closer.”

Interestingly, the Cup Series teams have ramped up their efforts in expanding their racing operations with the silly season drama and charter sale. This could mean that teams and NASCAR are close to reaching an agreement for the new charter deal.

Positive signs by the teams hinting at a positive outcome from charter negotiations

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On one hand, Denny Hamlin expresses concern over the charter deal, and on the other, he and his team 23X1 keep on pouring resources to further establish themselves as a powerhouse racing organization. They are among the frontrunners to potentially buy another charter from the defunct Stewart Haas Racing team. Not to forget, they recently opened the door of their new race shop, ‘Airspeed’. Heck, Front Row Motorsports has even added a new charter, thus signaling NASCAR teams’ prolonged stays in the Cup Series.

Some were suggesting a doomsday scenario where teams would not show up at the Daytona 500 race next year. But that is highly unlikely, given how the charter negotiations are progressing. Not only 23XI Racing, but the likes of Trackouse Racing, Legacy Motor Club, and Spire Motorsports have invested a ton of resources into their NASCAR operations, so this only means teams are expected to stay and compete in the premier stock car racing division.

Brad Keselowski, who also wears the hat of a co-owner and driver for RFK Racing, shared a positive update regarding the negotiations. “We’d like a little bit more time before kind of going deep in the record, but it seems like things continue to progress. But I’m not one to go out on edge and say everything’s done, certainly not. But there’s good progress, and I respect that.”

All things considered, both parties want a better piece of the pie from the new charter agreement. Although the demand for permanent charters is still not clear, it seems like both NASCAR and teams are close to signing a new charter extension deal.