DAYTONA BEACH, Fla. – NASCAR and the Race Team Alliance jointly announced on Friday that the NASCAR Cup Series charter agreement has been extended through 2024.
First put into place ahead of the 2016 season, the NASCAR charter agreement guarantees 36 Cup Series teams entry into every event throughout the season.
It was first implemented to give team owners at NASCAR’s top level long-term financial security, as well as additional business equity, within the sport.
Current charter teams include Hendrick Motorsports, Joe Gibbs Racing, Stewart-Haas Racing, Roush Fenway Racing, Chip Ganassi Racing, Richard Childress Racing, Team Penske, Leavine Family Racing, Rick Ware Racing, Germain Racing, StarCom Racing, Wood Brothers Racing, Go Fas Racing, Richard Petty Motorsports, JTG-Daugherty Racing, Premium Motorsports and Spire Motorsports.
“The charter agreement is delivering stability and long-term value to existing team owners, while providing a clear path for ownership in the NASCAR Cup Series,” said NASCAR President Steve Phelps. “We are pleased to have reached an agreement with the team owners that extends the length of the charter system until 2024.
“A healthy ownership structure ensures strong, competitive racing for our fans, which is a goal the industry collectively shares.”