Sports
Gene Haas and Tony Stewart on The Verge Of Losing Over $25 Million
Gene Haas and Tony Stewart on The Verge Of Losing Over $25 Million
Executives introduced the NASCAR charter system in 2016, intended to allow more financial flexibility for teams. But on the contrary, race teams faced new economic sinkholes to slip into. Ranging from expensive Next Gen Cup car parts to soaring race entry fees, team owners were in a soup. So since 2016, 11 teams have “closed, merged, or gone bankrupt,” as 23XI Racing co-owner Michael Jordan said.
The increasingly tighter financial situation led a NASCAR executive to admit drivers’ dwindling value: “Unless you’re Jeff Bezos, it’s never as much as you think.” So Tony Stewart and Gene Haas may not be able to bid adieu to their beloved Cup team in peace. They sold an SHR charter to Front Row Motorsports for around $25 million. But if the charter agreement does not renew, that throws up a question that Kenny Wallace asked.
Hosting Denny Hamlin on the July 13 episode of the Kenny Conversation, Wallace asked, “We just watched some teams pay Gene Haas $25 million. What would happen if, at the end of this year, NASCAR said charters don’t exist? Does NASCAR have a responsibility? How could that just all go into thin air?” He significantly added NASCAR’s basic sense here: “It’s kindergarten stuff.”
Denny Hamlin pointed out how this is exactly what the Cup teams and the Race Team Alliance are fighting against. However, given Jim France’s traditionalist mindset and the fact that he doesn’t stray too far from his family’s legacy, improving Tony Stewart’s situation seems unlikely. Hamlin replied, “I know, I hear you. But the sport is run differently and it’s unfortunately run by someone who says, ‘This is what’s worked for 75 years, and I’m not changing.’”
Then, Denny Hamlin further stated that Tony Stewart’s charter deal was at risk. His agreement with FRM owner Bob Jenkins may be null and void if the charter deal is not renewed. “More than likely, Bob Jenkins put provisions in there that says, ‘Okay, this deal will go through as long as there are charters.’ Attorneys would never put that at risk, I would think. You can’t sell something that doesn’t exist. So, I think Gene Haas wants to see this charter deal done.”
If NASCAR does implement what is sure to be a grim reality – that charters won’t exist anymore – Front Row Motorsports will undoubtedly ask for the $25 million or so that Haas and Stewart earned to be returned. And the co-owners would have no option but to oblige. So, as D-Day approaches, it won’t just be Haas and Stewart on the edge of their seats. It’ll be every team that owns a charter because, according to Hamlin, the situation “keeps getting worse.”
What brings fans to races every single weekend? It’s the drivers and the teams, and the love fans have for them. Imagine a situation where there is no charter deal. The 23XI co-owner mentioned spending around $18 million a year to put a car on the racetrack. So, if there was no charter deal and teams weren’t paid to enter races, they would just choose the highest-paying ones and participate only in them. And where would that lead NASCAR?
The organization would crumble. That’s what will happen. However, NASCAR management isn’t understanding that. Venting his frustration, Denny Hamlin told Wallace, “We’re banging our heads up against the wall because, repeatedly, as these negotiations have gone on, there’s been no negotiation. Every proposal they send back to us is worse than the previous. That is factual; it keeps getting worse. We are worse off than we were 2 years ago, and we are 8 months away from the Daytona 500 and there not being any charters.”
In line with Denny Hamlin’s concerns, a 23XI Racing official also chimed in along similar lines.If NASCAR does not reach a favorable agreement soon, SHR will not be the only team set to lose money. Spire Motorsports bought a charter for a whopping $40 million a few months ago. So this massive investment might turn worthless unless NASCAR yields to the drummed-up demand for permanent charters. Curtis Polk, Jordan’s longtime financial and business manager and a part owner of 23XI, shed some light on this pressing matter.
Polk drew a rather apt comparison, highlighting the helplessness of race teams. “We’re basically tenants in an apartment building. We have these charters, and they give us certain rights, and we have responsibilities because of the rights they give us. But at a date certain — which right now is Dec. 31, 2024 — we have no further rights to renew, and [the charters] could be taken away from us.”
THERE IS COMMENT BOX AFTER THE ADS, SHARE YOUR THOUGHT WITH US
Lewis Hamilton has opted not to make his Ferrari debut during the post-Abu Dhabi Grand Prix test, telling future boss Frederic Vasseur he wasn’t eager to jump into the red car so soon.
While Carlos Sainz, whom Hamilton will replace at Ferrari in 2025, will test for his new team Williams after the Abu Dhabi season finale, Hamilton will be focusing on pre-arranged commitments with Mercedes.
“I don’t want to block him,” Vasseur said, referring to Sainz.
As for Hamilton, Vasseur explained that Ferrari did not pursue the matter with Mercedes boss Toto Wolff, citing contractual obligations. “They have a contract, so I didn’t even ask Toto,” Vasseur said.
Hamilton admitted in Qatar that missing the test could leave him slightly disadvantaged when he begins his Ferrari tenure.
“It will definitely slow down the process and make the start of next year more difficult, but we will do everything we can to make up for it,” he said.
The seven-time world champion also shared his personal reasons for skipping the test.
“I know that Fred wanted me to do the test, but I was in two minds,” Hamilton explained. “The idea of getting behind the wheel of a red car for the first time in Abu Dhabi did not excite me too much. In an ideal world, I would like the first runs to be done without much scrutiny.
“Toto and the team had planned ahead for me to meet some sponsors and say goodbye to them, so I don’t think I would have been allowed to take part in the tests even if I had asked,” he added.
Hamilton revealed that he had informed Vasseur of his feelings well in advance. “I have a contract with Mercedes until December 31, and it is not a problem for me because I told Fred in advance that I didn’t really want to do it.”
THERE IS COMMENT BOX AFTER THE ADS, SHARE YOUR THOUGHT WITH US
All Hendrick Motorsports drivers won Cup Series races this year. Kyle Larson stood out with the maximum, clinching 6 race victories. However, his teammate holds the bragging rights to achieving more than just race trophies. Chase Elliott went from a despicable season in 2023, where he injured himself and got himself suspended to snapping a 42-race winless streak. At the end of the year, he can pose with more than just race wins, having picked up the Most Popular Driver title.
Elliott brought a guest to the NASCAR Awards banquet – a blonde woman with striking blue eyes. Her presence confirmed the active status of our Hendrick Motorsports star’s dating life. His newly ordained better half recently poured her heartfelt wishes as Elliott turned 29th.
Ever since Chase Elliott failed to crack the playoffs last year, he has been on a mission. His snowboarding injury and race suspensions lent him the fury of a man redeeming himself. So this year during the April Texas race, Elliott edged out Ross Chastain on the second restart in overtime to win. Although his victories ceased after that, Elliott put up a consistent performance – clinching 11 top-fives and 19 top-tens. In spite of his dismissal from the Round of 8, Chase defended his Most Popular Driver status, winning the award for the 7th time.
To accompany him in receiving this honor was Ashley Stephenson, twinning with her new boyfriend in all-black attire. The talented hair stylist and lifestyle vlogger publicly posted a photo with Elliott at the Awards ceremony. Similarly, Anderson proudly uploaded a story on Instagram to celebrate Chase Elliott’s 29th birthday on 28th November. She proclaimed her love as she wrote, “Happiest birthday, Bubs!” She added her heartfelt 3-word message for Elliott: “Thankful for you,” and followed it up with affectionate emojis.
Not much is known about Stephenson and Elliott’s dating life. Both of them hail from Dawsonville, Georgia, and have reportedly been friends for a long time. According to rumors in the NASCAR world, Stephenson and Chase Elliott began dating each other after the Hendrick star split up with his ex-girlfriend, Kaylie Green. Stephenson works as a hairstylist and lifestyle vlogger in Dawsonville, often posting her work on Instagram. They have made multiple appearances on the racetrack together, and Ashley’s oldest picture with Chase on her profile dates back to mid-2020. Her appearance at the NASCAR Awards ceremony was their first public appearance together after a long while. She also shares a relationship with Ryan Blaney’s fiancee Gianna Tulio.
Dale Earnhardt Jr’s First Sighting in Infamous Firesuit Has NASCAR Fans Losing Their Minds.
After 17 long years, Dale Earnhardt Jr finally reclaims his legacy. The 26-time Cup race-winning veteran will sport those bright red colors on a racetrack once again. His estranged stepmother, Teresa Earnhardt, offered an olive branch this year in June, allowing Junior to buy the trademark for the No. 8. She retained rights over the long-lost Dale Earnhardt Inc. team. But the update means one thing – Junior fans can relive a nostalgic dream!
The podcast host and JR Motorsports owner is already creating a flutter with a wardrobe drop. Dale Earnhardt Jr.’s loyal army of fans will see a spectacle at Florence Motor Speedway on November 23rd. A fiery red firesuit embroidered with Budweiser’s famous logo is all that the NASCAR community is drooling over right now.
That Memory Lane was a long 2000-2007 journey, sprinkled with colorful victories. Starting from the 2000 DirecTV 500 win in Texas and ending with the 2006 Crown Royal 400 win in Richmond, Dale Earnhardt Jr collected 17 victories for Dale Earnhardt Inc. What stood out was his iconic bright red Budweiser fire suit that clung to the icon’s tired body during every Victory Lane celebration. From 2007, Dale Jr shifted to Hendrick Motorsports, as his stepmother tightened her control over DEI and the No. 8 logo. 17 years later, that scenario has finally changed.
Ahead of the upcoming spectacle in the South Carolina 400 race at Florence, Dale Earnhardt Jr dropped a teaser. A NASCAR fan shared a picture of modern-day Dale Jr smiling his heart out in the legendary ruby-red firesuit, holding a Budweiser beer can. The post caption encapsulated the soaring emotions of numerous fans’ hearts: “If you ever wanted to see present day @DaleJr in a Budweiser firesuit, here ya go.” Being under lock and key for so long, the famous logo will feature where it rightfully belongs – on the firesuit and car of Dale Jr, under his team JR Motorsports.
Dale Earnhardt Jr’s Florence entry will also mark the “Bud King of Beers” paint scheme’s first time on the track in 17 years. “It is an incredible opportunity for me to be able to reunite with Budweiser, and the No. 8,” Earnhardt, 50, said of the ride he made famous from 1999 to 2007. “Budweiser and I had some great memories with that iconic scheme and number. We’ve always supported each other over the years. It’s going to be really special for me to be able to represent that brand on the racetrack again.”
After all, Dale Earnhardt Jr has several precious memories in this firesuit. Less than four months after his father, the Intimidator, passed away in Daytona, Dale Jr roared back to win on the same track. Leading 116 of 200 laps, he won the Pepsi 400, and the pit crew, competitors, and fans all roared when he climbed out of his car in Victory Lane. Now that the same victory outfit is back in business, fans are ecstatic for more memories. One fan wrote, “Seeing him in a bud suit…nature has healed just a tiny bit more. The way I miss the old days though…” Another fan heaved a sigh of relief that we would be able to relive the golden era of NASCAR again. “All is right in the world,” they wrote.
Dale Earnhardt Jr holds the classic No. 8 close to his heart – given the numerous tracks he conquered wearing it. For instance, he won four of six Talladega races wearing Budweiser’s suit, the best memory coming in April 2002 when he led 133 laps. So the veteran sports an infectious smile while wearing that glorious suit today – enough to mesmerize fans. “Junior’s enthusiasm for everything NASCAR really is infectious. So glad he was/is my favorite driver,” somebody wrote.
THERE IS COMMENT BOX AFTER THE ADS, SHARE YOUR THOUGHT WITH US
