NASCAR Cup Series team owners didn't appear for their regularly scheduled meeting with NASCAR officials on Wednesday.
DOVER, DE - MAY 15: A general view of the NASCAR Cup Series logo prior to the NASCAR Xfinity Series - Drydene 200 on May 15, 2021 at Dover International Speedway in Dover DE. NASCAR Cup Series team owners didn’t appear for their regularly scheduled meeting with NASCAR officials on Wednesday., the boycott is because teams are unhappy with the state of discussions surrounding the way television revenue will be divvied up in future seasons.
NASCAR’s tracks are the major beneficiaries of the television deal. The tracks receive 65% of the money while NASCAR itself gets 10%. NASCAR also owns many of the tracks that are on its schedule. The AP reported Wednesday afternoon that NASCAR teams believed the meeting would have solely revolved around the charter system, NASCAR's version of franchising. Thirty-six teams have charters that guarantee them entry into every race and a greater share of the money allocated to teams from the season-ending points fund. The charters themselves serve as a hedge towards the loss of value of a race team. If a team wants to exit NASCAR or must stop racing, it can sell its charter for millions.
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