NASCAR Commissioner Addresses Ongoing Litigation at State of the Sport
Phoenix, AZ – During NASCAR’s annual State of the Sport address at Phoenix Raceway, Commissioner Steve Phelps delivered a detailed statement regarding the ongoing antitrust lawsuit filed by 23XI Racing and Front Row Motorsports. This marked one of the few occasions NASCAR has publicly addressed the matter, with Phelps explicitly stating that no questions would be entertained on the topic.
Phelps emphasized the importance of healthy race teams to the sport, reaffirming that the current litigation is not an antitrust case. He highlighted key aspects of the upcoming 2025 charter agreement, which promises over $3 billion in guaranteed payments to teams and maintains charter security until at least 2039. “We are committed to charters,” Phelps stated, reiterating that the legal action poses a risk to this system.
The commissioner recognized the foundational role the France family has played in NASCAR, noting their significant investments and risks taken to grow the sport over the last 75 years. “The charter system is a critical part of this sport, created with and for the teams, and will continue to be defended,” he asserted.
Phelps also provided insights into NASCAR’s financial structure, revealing the organization has over $1.2 billion in invested capital and emphasizes reinvestment into the sport. He stated that teams receive approximately $1.1 billion annually from a combination of sponsor agreements and NASCAR funds. Despite improvements in revenue streams and reduced costs for team operations, ongoing liabilities and unique financial commitments distinguish NASCAR from other sports.
Phelps concluded with a message of optimism, expressing hope for a resolution to the litigation while looking forward to celebrating new champions in the coming weekends. He remarked, “Our racing is as good as it has ever been,” underscoring the sport’s commitment to delivering a quality experience for fans and stakeholders alike.
