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Charter Agreements

All articles tagged with #charter agreements

sports1 year ago

NASCAR Teams' Antitrust Injunction Request Denied by Judge

A judge denied a preliminary injunction request from 23XI Racing and Front Row Motorsports in their antitrust lawsuit against NASCAR, which sought to allow them to sign 2025 charter agreements without a clause preventing legal action against NASCAR. The judge ruled the teams did not demonstrate irreparable harm without the injunction, as the 2025 season is still months away. The lawsuit challenges NASCAR's charter agreement system, which the teams claim uses anti-competitive practices. Despite the setback, the teams plan to continue their legal battle.

sports2 years ago

NASCAR team owners boycott scheduled meeting over revenue negotiations.

Most team owners in the NASCAR Cup Series skipped a scheduled meeting with NASCAR officials, which may be related to ongoing negotiations over the renewal of charter agreements. Charters guarantee a team a spot in the field in each Cup series race and a portion of the purse. The negotiating window for new agreements is set to take place during the final six months of the 2023 season, and all current charter members have until the end of February 2023 to indicate whether they wish to renew their individual agreements.