Stewart-Haas Racing has announced that it will shut down operations after the 2024 season. In a joint statement, Tony Stewart and Gene Haas spoke about how it was now time for them to pass the torch.
The statement read, “Racing is a labor-intensive, humbling sport. It requires unwavering commitment and vast resources, with a 365-day mindset to be better than everyone else. It’s part of what makes success so rewarding. But the commitment needed to extract maximum performance while providing sustainability is incredibly demanding, and we’ve reached a point in our respective personal and business lives where it’s time to pass the torch.”
Because of this, four charters previously held by the Stewart-Haas team became available for the NASCAR 2025 season. While the newly formed Haas Factory team has retained one, being driven by Cole Custer, the others are up for grabs. Once the debate and discussions of the charter agreement are concluded, we’ll know who will be buying those. Two days back, a NASCAR insider discussed potential buyers of the charters, suggesting that Michael Jordan and Justin Marks might be eyeing them.
Who will the remaining three charters go to?
Before the charters have a new owner, the ongoing discussion on the charter agreement needs to be settled. With the NASCAR charter set to expire after the 2024 season, tensions are high over the future of the system. At the heart of the negotiations are the issues of permanent charters and revenue allocation, as teams are seeking a higher cut from NASCAR. However, if we assume that this debate is settled, who will the charters go to?
Perhaps the delay in finalizing the deal is due to key managerial changes being made by NASCAR. According to Sports Business Journal, NASCAR is undergoing a leadership reshuffle. President Steve Phelps will assume a broader role, focusing on the sport’s overall strategy and expanding its reach globally. Ben Kennedy, a former driver often seen as a potential successor to NASCAR CEO Jim France, will be transitioning to a new position within the organization.