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NASCAR president Steve Phelps says that the next television deal needs to be done before the industry can finalize a new charter agreement. “I think the race teams have seen that,” Phelps said duri…
NASCAR President Steve Phelps stated that the next television deal must be finalized before the industry can proceed with a new charter agreement. Discussions with race teams about charters and charter extensions are currently taking place. Charters guarantee race teams a spot in each race and a portion of the television revenue based on performance. NASCAR aims to ensure profitability and competitiveness for race teams and wants their enterprise value to increase. The current charter agreement and media rights deal with Fox Sports and NBC Sports expire after the 2024 season. Despite fluctuating ratings throughout this season, NASCAR is pleased with the current viewership numbers. Interest from media partners for the next media rights deal starting in 2025 have exceeded expectations, and NASCAR expects a strong result with a combination of broadcast, cable, and streaming platforms. The negotiation process is reaching its end, though the final outcome has not been determined yet due to the highly competitive marketplace.
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