The exclusive period expires May 1, Phelps told AP, and NASCAR can explore television rights deals with outside partners after that date. NASCAR is in an exclusive negotiating window with both Fox Sports and NBC Sports on renewals. The current charter agreement expires at the same time that NASCAR's current television deals expire. 'Financially healthy race teams will put a better product on the racetrack and that´s great for the sport overall.' 'We have said publicly and we will continue to say publicly that we need to have financially healthy race teams,' Phelps said then. NASCAR President Steve Phelps in February told AP that he was confident a resolution could be found. Because sponsorship is so vital, teams are desperate for financial relief elsewhere and have asked NASCAR for help to cover baseline costs. The teams revealed last October that sponsorship covers 60-80 percent of the budgets for all 16 chartered organizations. NASCAR has said it is willing to work with the teams on financial security and reiterated that Teams have argued they have become 'full-time fundraisers' seeking sponsorship to keep their organizations afloat and the only possible place to make further financial cuts is through layoffs. There are two major track operators, NASCAR and Speedway Motorsports NASCAR owns the majority of the venues on the Cup Series schedule, including the crown jewel Daytona International Speedway, and the France family owns NASCAR. The financial split from the $8.2billion media rights deal signed ahead of the 2015 season sends 65 percent to the tracks, 25 percent to the teams and 10 percent to NASCAR, according to the series. NASCAR has maintained teams receive about 40 percent of industry-wide generated revenue. We want to make a deal.' But he reiterated that talks must open on permanent charters.Īlpern and Polk declined to discuss specifics on how teams have gained traction with NASCAR during months of negotiations. The meetings with NASCAR are limited to one team owner and one executive from each of the 16 chartered teams.Īsked what happens next, Polk said 'we're ready to meet. CEO and Chairman of NASCAR Jim France (right) NASCAR in 2016 adopted a charter system for 36 cars that is as close to a franchise model as possible in a sport that was founded by and independently owned by the France family. When it became apparent on the call with 50-plus participants that permanent charters was the only issue the RTA wanted addressed, the smaller negotiating committee advised NASCAR that its meeting should be delayed. The RTA is comprised of all 16 teams and teams can have as many representatives as they choose on those calls. The breakdown happened after the entire Race Team Alliance held a call Tuesday to discuss topics for the smaller meeting with NASCAR. 'We remain committed to continuing discussions in the spirit of collaboration and with the shared goal of growing our sport for the benefit of all stakeholders.' 'NASCAR is committed to open and productive dialogue on a regular basis with all industry stakeholders,' NASCAR said in a statement. NASCAR has said it is willing to work with the teams on financial security, and reiterated that commitment Wednesday after no owners showed for the meeting. If they gave you the moon, but they're able to take it away from you periodically, what good is having the moon?' Polk told AP. 'It's the foundation that everything else is built upon. The race teams want the charters to become permanent, and NASCAR apparently is unwilling to even discuss the issue. The charters are both renewable - the current ones expire at the end of the 2024 season - and revocable by NASCAR if a team fails to perform over a predetermined length of time. The charters give the teams something of value to hold - or sell - and protect their investment in the sport. In a telephone interview with The Associated Press, Alpern and Polk said significant progress has been made with NASCAR on many key issues but the two sides have reached a 'significant impasse' on the charters. A top group of NASCAR team owners missed a meeting with series officials Wednesday
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |