StandOnIt
Farm Truck
Another leg on the table is kicked out. Pretty much rules out the possibility of either outlier team and the click bait talking heads in the media crying about missing the race while they are suing Nascar.
Fight tooth and nail to keep the teams ftom having pseudo-charters, win, and then guarantee their starting spots anyway.NASCAR doing some CYA.
There's a big difference between a guarantee of making the field and being paid as a charter teamFight tooth and nail to keep the teams ftom having pseudo-charters, win, and then guarantee their starting spots anyway.
yep. They are an open team. Reports are that open teams get about a third compared to teams who have charters.I would imagine that a win at Indy would pay pretty good. Will they reduce the prize money paid to the team for not being a charter team?
I'd imagine this was one of the bigger purses tooyep. They are an open team. Reports are that open teams get about a third compared to teams who have charters.
The problem with that land situation here is this.I understand the confusion. It really is about the value of things. Remember after Covid when the supply of new cars was so low, used car prices skyrocketed? We had a 2 year old Honda Pilot under lease, in mint condition. I was retiring and wanted to reduce autos. Because of the value of that rented asset, we not only were relinquished from all future payment obligations, they also paid us several thousand dollars to aquire it.
The Charters were formed and originally conferred without any payment to NASCAR. From the beginning they represented a form of contractural leasehold between the team and NASCAR. Take land as an example. In leasehold property, the lessee (tenant) obtains the right to possess and use the property for a specific period, but does not own the land itself. The landowner (lessor) retains ownership and can reclaim the property at the end of the lease term. Leasehold agreements define the rights and responsibilities of both parties, including the payment of leasing fees. Charters were “sold” by teams to other team owners, which was really just a transfer of rights to the benefits of the Charter system and an agreement to NASCAR’s obligations.
As I understand it, what's getting sold isn't the property itself, it's the permission to live on it for a contractually limited period of time.The problem with that land situation here is this.
Say you owned the property and I was the tenant. I can't just go and sale that to someone else and make money off of it. But a team CAN sale their charter and make money off it. So see how that doesn't make sense?
Freddie and Tommy Baldwin talked about this on DBC in the last couple weeks about payout, Tommy said it is about 18 to 19% of what they would get if chartered.yep. They are an open team. Reports are that open teams get about a third compared to teams who have charters.
I've never had to rent before, could the person renting pass the lease to someone else, and get paid for that?As I understand it, what's getting sold isn't the property itself, it's the permission to live on it for a contractually limited period of time.
I've never had to rent before, could the person renting pass the lease to someone else, and get paid for that?
And permission had to be stated in the original lease to be able to do it legally.Yes, you can sublease an apartment. You could theoretically charge more rent than you’re paying but you would have to find a really dumb subletter.
And permission had to be stated in the original lease to be able to do it legally.
Well, if we're going to run with this analogy, it might be more equivalent to paying the current lease holder to break his lease early.I've never had to rent before, could the person renting pass the lease to someone else, and get paid for that?
Thank you.Yes, you can sublease an apartment. You could theoretically charge more rent than you’re paying but you would have to find a really dumb subletter.
I mean idk if you can say "if I'm going to run with that." because that's what it seems Con was saying. Because a team can "sell" something they dont own and make money off of it. But supposedly you can do that, I guess.Well, if we're going to run with this analogy, it might be more equivalent to paying the current lease holder to break his lease early.
I'm definitely not saying the analogy is perfect, just that it's as close as I've come to understanding. The whole thing falls apart when we consider the landlord isn't making a dime.
I agree completely.I just still think its odd. Because you're not paying NASCAR any "rent money" and then you can take something they say you don't own, and sell what you don't own to someone else to not own it.