Rick Hendrick, who has the most wins as a NASCAR owner, explained on Tuesday that he was “just tired” of the prolonged discussions over a new charter agreement, which influenced his choice to accept NASCAR’s final proposal.
NASCAR set a deadline for teams to sign by last Friday night, and 13 out of 15 teams agreed to the new deal, which will last until 2031. The two teams that did not sign are Michael Jordan’s 23XI Racing and Front Row Motorsports.
During a news conference to announce that Kyle Larson will compete in the Indianapolis 500 in 2025, Hendrick said that the two years of negotiations with NASCAR had been exhausting.
“We worked really hard for two years, and it came down to the point where you can’t make everyone happy. I was just tired,” Hendrick said.
“You’re not going to get everything you want in any negotiation. I felt it was a fair deal.
We protected the charters, which was our top priority, got an increase in revenue, and a lot of things we didn’t like were removed. So, I’m satisfied with the outcome.”
Charters ensure that teams have access to all important Cup Series races. There are currently 36 charters used by 15 teams.
During the talks, teams wanted four main things: a bigger share of the revenue, a role in decision-making, a share of business deals that use team or driver images, and most importantly, permanent charters to ensure stability.
NASCAR was not willing to make the charters permanent, and the final offer did not include that provision. The new deal also includes terms that could allow the France family, who own NASCAR, to hold charters and field their own teams.
23XI Racing, which is co-owned by Jordan, Denny Hamlin, and Curtis Polk, led the push for changes, and unexpectedly, Bob Jenkins from Front Row Motorsports also refused to sign the agreement. Hendrick is uncertain about what 23XI and Front Row hope to achieve by not signing, as their charters could expire and be canceled in December without a deal with NASCAR.
