CORNELIUS, N.C. – Spire Sports + Entertainment, a marketing agency which works with several NASCAR teams and represents both drivers and sponsors within the motorsports industry, has purchased the Monster Energy NASCAR Cup Series charter previously owned by Furniture Row Racing.

Jeff Dickerson and T.J. Puchyr will be two of the team’s co-owners. The news was confirmed by multiple media sources, including ESPN and NBC Sports.

The new team will run the No. 77 Chevrolet Camaro ZL1 starting in 2019, with a driver, sponsorship and team alliance to be announced at a later date.

“We think this is the perfect time to buy in,” Dickerson told NBC Sports. “Our guys sit in board rooms and tell people how much they believe in the sport. We believe in this sport. We believe in the leadership.”

Furniture Row Racing, owned by Barney Visser, ceased operations at the end of the season after two top-four points finishes (2015, ’18) and a NASCAR Cup Series championship (’17) in the past four seasons.

While the sale price of the charter has not been announced, based on Furniture Row’s points finishes over the past three seasons, the charter is the most valuable to ever be sold.

Founded in 2010, Spire Sports + Entertainment represents multiple drivers in NASCAR’s top three series, including Kyle Larson, Landon Cassill, Ross Chastain, Todd Gilliland, Justin Haley, Vinnie Miller and Garrett Smithley.

They also provide consultant services to Hendrick Motorsports, Chip Ganassi Racing, GMS Racing and ThorSport Racing.