NASCAR teams call revenue model ‘broken,’ warn of layoffs

CHARLOTTE, N.C. (AP) — NASCAR heads into Sunday’s playoff elimination race with another issue to address. The most powerful teams in the stock car series are demanding a new charter agreement in 2025 that gives them more revenue. An executive with the 23XI Racing team owned by Michael Jordan and Denny Hamlin says the economic model is broken. The financial plight of the teams is now in the spotlight as NASCAR is also dealing with safety concerns surrounding its new Next Gen car.