Richard Childress: Permanent charters a positive for NASCAR's future growth

Perhaps the most important development to come out of NASCAR's settlement with 23XI Racing and Front Row Motorsports in court in December was the establishment of permanent charters for NASCAR Cup Series organizations. 

Charters in NASCAR essentially work like franchises in stick and ball sports, ensuring teams' entry into races and being valued at roughly $40 million apiece for one Cup Series car. 

Richard Childress, who has owned a Cup Series team for nearly 57 years and testified for 23XI and FRM during the December trial, spoke on SiriusXM NASCAR Radio on Monday about why he believes permanent charters are a good thing for NASCAR. 

Richard Childress' point of view 

"What it does, it's helped put NASCAR, the team owners, the drivers — all of us are pulling that rope now in the same direction," Childress said on "The Morning Drive." "I think it's going to do nothing but be better for NASCAR, the fans, our sport. I'm [as] excited about our sport as much now as I've been in many years because of the closeness that it's brought the team owners and NASCAR and all of us back together, like it was years ago."

Charters were first implemented ahead of the 2016 NASCAR Cup Series season.

"I think getting these permanent charters, you're building equity in your brand when you're doing that," Childress explained. "That's the big thing permanent charters gives you."

Childress' team, Richard Childress Racing, owns two Cup Series charters for the No. 3 and No. 8 teams, respectively, with drivers Austin Dillon and Kyle Busch.