Spire Motorsports to buy Live Fast Motorsports’ charter for $40 million

Spire Motorsports is reportedly buying Live Fast Motorsports’ charter for $40 million, according to a report from Jeff Gluck and Jordan Bianchi of The Athletic.

With Spire Motorsports and Live Fast Motorsports reaching the agreement, gives Spire three NASCAR Cup Series teams for 2024. It will acquire the No. 78 car in the transaction. The team currently houses Cup Series drivers Corey LaJoie (No. 7) and Ty Dillon (No. 77), though Dillon likely won’t return next season.

Per the report, no driver has officially been announced to sit behind the wheel of the 78 car for next season. However, Truck Series driver Zane Smith is expected to be the leading candidate.

From The Athletic: “The approximately $40 million price point Live Fast is receiving represents the highest for a charter since the NASCAR equivalent of a franchise system was instituted prior to the 2016 season.”