Trackhouse, 23XI, Legacy, JR Motorsports among NASCAR teams rumored to be interested in NASCAR Cup Series expansion

Trackhouse Racing, 23XI Racing and Legacy Motor Club are among the Cup Series teams rumored to be interested in expansion in NASCAR’s premier series, per Adam Stern of Sports Business Journal.

Stern added that JR Motorsports, the Xfinity Series team co-owned by NASCAR Hall of Famer Dale Earnhardt Jr., has also been exploring the idea of buying a Cup Series charter in recent years. Those respective teams’ interest comes with the possibility of Stewart-Haas Racing downsizing its four-car Cup Series operation as soon as next year.

The team, co-owned by NASCAR Hall of Famer Tony Stewart, currently has four Cup Series charters. Josh Berry pilots the No. 4, Noah Gragson drives the No. 10, Chase Briscoe is behind the wheel of the No. 14 while Ryan Preece sits in the No. 41. But after a disappointing 2023, the pressure is on for SHR to perform in 2024.

Only Kevin Harvick, who retired after the season, qualified for the playoffs. Harvick, however, failed to win a race. The trio of Aric Almirola, Briscoe and Preece didn’t find their way to victory lane as well. With Harvick and Almirola moving on from full-time competition, SHR saw an influx of youth into the team this offseason. Berry replaced Harvick in the No. 4. Gragson is piloting the No. 10 in place of Almirola.

Could SHR downsize NASCAR Cup Series charters?

The team also lost likely low eight figures in annual sponsorship revenue with the departures of Anheuser-Busch, Smithfield Foods and Hunt Brothers Pizza. Teams rely on sponsorship for about 60-80% of their annual revenue, Stern noted in his report.

“We’re going to have to get some races into it,” Stewart said in February. “But if we’re not having the results we’re looking for, we’re going to start making some major changes. So, everybody knows that, everybody understands that. And it’s those guys at SHR to take what we have and make it better. … We need to see the needle moving in the right direction and make progress.”

Spire Motorsports bought a charter from now-defunct Live Fast Motorsports for slightly under $40 million last year, the last charter trade in NASCAR. With NASCAR and teams currently negotiating a new governing agreement that would start next year, it’s unlikely outside investors would buy a charter at this time.

“Only teams inside the sport who are confident that the system will continue in some form would be likely to buy one at this time, but it’s possible that even they will wait for a resolution with NASCAR before any further charter transactions take place,” Stern wrote.