Teams losing their patience with NASCAR over revenue distribution × Follow Us Create Notifications New User posted their first comment this is comment text Link Approve Reject & ban Delete Log in Manage your profile Editing Story Queue Video Queue Editing Stats Writer Home SEO Redirection Admin Gaming Wiki Edits Taxonomy Home Edit Site Menu Mapping Dashboard Tag Pages Community Social Feed Queue Feed Center Notification Center Affiliate Home Manage Pages Bottom Tagline Dash Timeless Stories Logout NASCAR NASCAR Cup Series News Teams losing their patience with NASCAR over revenue distribution By Rahul Ahluwalia Modified Oct 08, 2022 11:00 PM IST Follow Us Comment Share Ryan Blaney (#12) leads the field during the 2022 NASCAR Cup Series YellaWood 500 at Talladega Superspeedway in Talladega, Alabama. (Photo by Chris Graythen/Getty Images) Talks over the 2022 NASCAR Cup Series teams' allocated budget have been bubbling under the surface for quite some time now, with little to no avail in favor of the competitors on the track. The governing body sat down with representatives from the team last weekend to discuss the matter, which has been spoken upon by several owner-operators in the sport such as Denny Hamlin and Brad Keselowski in the past. The meeting last weekend was addressed by NASCAR after the Teams Negotiation Committee sent their proposal to the sport in June earlier this year, only to be looked at last week. Four members of the committee, namely 23XI Racing co-owner Michael Jordan, his business partner Curtis Polk, Hendrick Motorsports co-owner and vice chairman Jeff Gordon, Roush Fenway Keselowski Racing president Steve Newmark and Joe Gibbs Racing president Dave Alpern spoke to the media on Friday about the proceedings for the same. Bob Pockrass@bobpockrassThe RTA group that met with media today stressed they love the sport and are not seeking to break away from NASCAR. Just that the model of 60-80% of team revenues being from sponsorship has to change. And that the bulk of the answer can’t be cutting costs.56241The RTA group that met with media today stressed they love the sport and are not seeking to break away from NASCAR. Just that the model of 60-80% of team revenues being from sponsorship has to change. And that the bulk of the answer can’t be cutting costs. The collective goal that representatives from several teams had in mind was to increase revenue for the teams while working in conjunction with NASCAR for the upcoming revision of the sport's TV rights. The process that is due to take place in 2025 will see the governing body negotiate with the highest TV rights bidder along with the charter allocations for the different teams in the sport, both of which are yet to be worked upon. After an already delayed response from the sport, Michael Jordan's business partner Curtis Polk elaborated on how the demands were far from finalized on both ends. He said: "After waiting three months and consistently asking them to please respond because our owners were losing their patience, we received a proposal with a minimal increase in revenue, and the emphasis was on cutting costs dramatically." Adam Stern@A_S12NASCAR teams' calculations show that 93% of the total value of the sport is represented by the league and tracks, while 7% is represented by teams’ combined value, per @23XIRacing investor Curtis Polk. NASCAR has not yet responded to that claim.:sportsbusinessjournal.com/Daily/Closing-…893100NASCAR teams' calculations show that 93% of the total value of the sport is represented by the league and tracks, while 7% is represented by teams’ combined value, per @23XIRacing investor Curtis Polk. NASCAR has not yet responded to that claim.:sportsbusinessjournal.com/Daily/Closing-… https://t.co/bx1KaesoC2 Polk also touched on the fact that the cost of NASCAR's Next Gen cars is largely fixed, which would mean letting go of crucial people in the teams, and said: "The cost of the car is somewhat fixed. What would that lead to? That would lead to massive layoffs at our teams." NASCAR hopes to work towards finding a solution with the teams NASCAR's take on the recently held meeting between the Team Negotiation Committee and the governing body was leaning towards finding a solution in the future. A press release on behalf of the governing body read: "NASCAR acknowledges the challenges currently facing race teams. A key focus moving forward is an extension to the charter agreement, one that will further increase revenue and help lower team expenses. Collectively, the goal is a strong, healthy sport, and we will accomplish that together." With owners from big teams such as Hendrick Motorsports and Joe Gibbs Racing also pushing for a policy change, it is only obvious that smaller outfits such as Kaulig Racing and Spire Motorsports will appreciate the increase in funding whenever it is finalized. Poll : 0 votes Quick Links More from Sportskeeda Edited by Anurag C × Feedback Thank You! Be the first one to comment Follow Us Share Show More Comments GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? No thanks Delete GIF Cancel Update GIF Cancel Reply ❮ ❯ GIF Comment in moderation 0 0 Reply x Edit Delete Delete the comment? 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