Dale Earnhardt Jr is one of the most accomplished figures in the NASCAR industry owning a NASCAR team with his sister Kelly Earnhardt named JR Motorsports. Do you believe JR Motorsports, co-owned by Dale Earnhardt Jr. and his sister Kelly Earnhardt, is unprofitable despite its focus on fostering young talent in NASCAR’s Xfinity series?
NASCAR teams losing money to go racing? Nothing new in our book. 📖 pic.twitter.com/WtJDhkh7ij
— Dirty Mo Media (@DirtyMoMedia) May 1, 2024
During his podcast, Dale Jr Download, Dale shared about the article he read that the team owner loses money every year. He said, “That article, man, teams lost money in class, teams lose money every year. That’s nothing new. I’ve never made any money racing. I would love to know where somebody is racing a race car and making money.”
Dale Jr continued, “It ain’t happened in my life. And every Cup team I’ve ever known didn’t make money. But, you know, the teams think that that’s possible. And the teams think that that’s realistic. It should be happening. But that’s so foreign to me. That’s where I’m struggling because I’m locked in this mode of, dude, race has always been like, how do you make a small fortune? You start with a big one and go racing. That’s always been the known factor.”
“If you’re gonna get in racing, be ready to spend some money and not, you’re not gonna walk away profitable. I don’t know if it’s even realistic for the teams to think that they can even get profitable, but maybe they could.”Dale Jr concluded.
The Battle Over NASCAR Charter Agreements
As the current charter agreement between NASCAR and race teams approaches its expiration, tensions are rising. The charter system, implemented in 2016, aimed to provide stability and assurances for team owners investing in the sport. However, the revenue-sharing model has left many teams struggling financially.
Without a charter, teams miss out on a significant portion of purse money guaranteed to chartered teams. However, the absence of a charter means they aren’t obligated to participate in every race. If attending a race results in financial losses, teams have no incentive to show up.
