Breaking News: Major NASCAR Announcement

Today, NASCAR have announced a major “media alert”. The press conference will be held by NASCAR Chairman & CEO Brian France along with Key Industry Executives at Charlotte Convention Center, room 217, 1:30 p.m. ET (19.30 CET).

The only statement prior to this press conference is from David Higdon, NASCAR Vice President, Integrated Marketing Communications, on Tuesday’s Major NASCAR Announcement: DAYTONA BEACH, Fla. (February 8, 2016) – “NASCAR and NASCAR Sprint Cup Series team owners are pleased to share information that will be in place for the 2016 season. We’re eager to discuss it in more detail, and will do so on Tuesday at 1:30 p.m. ET.”

According to FOX news, the announcement is about a mutual charter agreement by Sprint Cup team owners and NASCAR. The new charter system would give the team owners a more secure financial position in Sprint Cup.

So, what is a charter system? NASCAR expert Tom Jensen writes “…the charter system is expected to be somewhat similar to the medallion system used by taxicabs in New York and many other large cities. To operate a cab in New York, taxi owners have to purchase a medallion that entitles them to do business in the city. Medallions can be sold privately, so if a cab driver wants to retire, he or she can sell that medallion to a new operator”. 

Lets hope that this new agreement will bring stability to the sport. Specially for the smaller teams, who always fighting to get the economy in balance. (JS)

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