The NASCAR lawsuit sprang from financial struggles. Ranging from Bob Jenkins’ career-threatening losses for Front Row Motorsports for two decades, to even high-level Cup Series team owner Rick Hendrick’s risks, the evidence divulged was eye-opening. However, 23XI Racing and FRM prepared their case accordingly, and as they started winning in the courtroom, NASCAR began to yield. The result has turned out to be a lucrative future for all teams.

NASCAR’s financial arena expands

“Several NASCAR team investors and industry executives feel charter values have gone up overnight with the establishment of evergreen provisions, with the most bullish of them predicting a near doubling of value right away,” journalist Adam Stern wrote on X.

On Thursday, the NASCAR lawsuit was settled. The sanctioning body shook hands with 23XI and FRM, agreeing to not only return the two plaintiff teams’ charters but also to grant permanent charters to all teams. And the big question was how much each charter would cost. According to Sports Business Journal, they may cost $50 million at the next valuation. Other reports claim it may go up to $90-$100 million. NASCAR SVP and Chief Strategy Officer Scott Prime went with the $100M figure.

Although holding one of the 36 charters available in the NASCAR Cup Series is like a stick-and-ball franchise, there are still differences. For instance, teams still do not own any equity in NASCAR. Before the settlement, charter values soared anyway, going from as low as $2 million to the most recent sale this summer, which went for $45 million. NASCAR CEO Jim France testified that he would not ‘budge’ on granting permanent charters. Yet he had to yield anyway by the end.

“As I had been saying for years and always believed when I owned Richard Petty Motorsports, this outcome was inevitable and a no-brainer, to be honest. A rising tide lifts all boats. This settlement is a clear example of that philosophy… NASCAR is ensuring long-term value for everyone involved. It’s truly a win-win scenario,” said Richard Petty Motorsports owner Andrew Murstein. “And when franchise values rise, which they naturally will because of this permanence, it benefits not just the teams but NASCAR itself.”

Clearly, the lawsuit’s prospects are already looking solid. But what was the final tipping factor in ensuring this future?

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Probably a scathing letter

Over the course of the past two weeks, a lot of jaw-dropping evidence has been made public. Bob Jenkins revealed how he lost about $100 million due to NASCAR’s monopoly. Then Rick Hendrick divulged his $20 million loss over the last 5 years despite winning two championships. But what truly appeared as the nail in the coffin was a scathing letter written by Bass Pro Shops owner Johnny Morris. NASCAR’s long-time sponsor had partnered with Dale Earnhardt Sr. in the past.

“I believe the owner of Bass Pro Shop, Johnny Morris, is asking for Steve Phelps to be fired by NASCAR because at the end of the letter, he said if a commissioner of baseball were to act like Steve Phelps is, it wouldn’t be long, and he would be gone,” opined Xfinity Series veteran Kenny Wallace recently.

Morris bashed the controversial comments posted about Richard Childress. The comments were by Steve Phelps, NASCAR commissioner, who already faced fire from fans. He called Childress a ‘stupid redneck,’ a ‘dinosaur.’ He also called him somebody who needs ‘to be taken out back and flogged.’ And Morris clearly said that leadership, which includes Phelps, needs to be handled sternly.

This may have turned the tide entirely in the teams’ favor. Nevertheless, now the NASCAR Cup Series can look forward to a bright, happening future ahead.