Silly Season is well underway
on the NASCAR Sprint Cup Series, with a handful of drivers mulling new
opportunities for 2017 and beyond.
Baldwin is "exploring all opportunities." |
New to the Silly Season dance,
however, is the concept of team owners selling or leasing their competition
charters to other organizations. As least two NSCS owners are openly discussing
the possibility of unloading their charters in coming weeks, with others
looking to acquire the guaranteed starting spots and increased purse and point
fund payoffs that come with being a chartered team.
Team owner Tommy Baldwin, Jr.
is expected to sell his Sprint Cup Series charter to Leavine Family Racing for
the 2017 season. Baldwin met with his employees last week to “give them the
options if they needed to go find a job,” and multiple published reports have
the Long Island, NY native ready to sign documents on the transfer in the
coming days.
The former NSCS crew
chief-turned owner confirmed that he is “exploring all my opportunities right
now… trying to figure everything out.'' Baldwin told NBC Sports he is not interested in shutting down his team, which
made its initial Sprint Cup Series start in 2009, preferring instead to sell
his charter – and possibly the assets of his team – to another organization.
"The options are (to)
keep going, or sell,'' said Baldwin, who has fielded Chevrolets for driver
Regan Smith this season en route to 33rd place in the championship
standings, with one Top-5 and two Top-10 finishes. Their best finish of the
season – a third in the Pennsylvania 400 at Pocono in early August – was not enough
to attract additional sponsorship to the team, forcing Baldwin to confront the
looming possibility of shuttering or selling the team.
Baldwin has reportedly found a
willing buyer in Leavine Family Racing, which currently partners with Circle
Sport Racing to field Michael McDowell’s No. 95 Thrivent Financial/K-LOVE
Chevrolet. Team owner Bob Leavine has leased a charter from Joe Falk Racing this
season, on a one-year basis. NASCAR rules allow such an arrangement for only
one year, however, and Falk will be forced to either use his charter in 2017,
or sell it outright.
Leavine Family Racing Vice
President Jeremy Lange confirmed last week that his organization is, in fact, purchasing
a charter for 2017, but would not name the seller.
St. Hilaire (L) is also looking. |
While Baldwin and Leavine dot
the “I”s on their deal, GoFas Racing owner Archie St. Hilaire is considering
his options, as well.
St. Hilaire told reporters
last week that he would be willing to lease his charter next season, or partner
with another chartered team in an effort to help his operation grow. NASCAR
rules state that if a chartered organization finishes in the bottom three (of
36 charter holders) in three consecutive seasons, their charters can be revoked
and awarded to another organization.
“Anybody in the bottom three
is exploring all their options right now,'' admitted St. Hilaire, who has
fielded his No. 32 Ford for a
revolving-door lineup of drivers this season, including Bobby Labonte, Jeffrey
Earnhardt, Joey
Gase, Jeb
Burton, Eddie
MacDonald and Boris
Said. The team is currently 38th in the
championship owner’s standings.
St. Hilaire says he hopes to
have a 2017 plan in place within the next 30 days.
While it’s always unfortunate
when team owners face the end of the line, Baldwin and St. Hilaire are better
off than they would have been as little as two years ago. Prior to the advent
of NASCAR’s Charter System, they would have been left with little to sell but a
few race cars, parts, pieces and transporters. There is usually not a long line
of buyers for older, mid- to back-of-the-pack equipment, however, meaning that
both organizations would be liquidated for mere pennies on the dollar.
Now, Baldwin and St. Hilaire
own two of just 36 Sprint Cup Series charters, complete with guaranteed
starting spots in each race, along with purse and point fund payouts large than
those awarded to non-chartered, “open” teams. Depending on demand on the open
market, those charters will almost certainly be worth multiple millions of
dollars.
With Leavine Family Racing
openly looking to buy, Furniture Row Racing expending to a second full-time
operation with driver Erik Jones and JTG Daugherty Racing also reportedly
planning to expand to a second car in 2017, both Baldwin and St. Hilaire stand
to cash a much larger exit check than ever before possible in the history of
the sport.
At the very least, they will
be able to lease their respective charters for a season, allowing them time to
regroup, forge new alliances and court additional sponsorship.
That opportunity has never
existed before.