23XI statement on not signing Charter agreement

[Greg]

To me this whole thing is the equivalent of demanding a raise because your employer made money last year. So if nascar shows a loss one year will Dennis write a check to help cover their losses?

People fail to realize what operating costs of a company are. Tracks cost a lot money to run to only see one or two times a year of income.

I see this all the time at work. People think that I get paid a ton because of how much an hour we charge hourly for me to be onsite. Turns out there's a whole lot of things that have to get paid out of that money, including my salary.

Sent from my SM-G991U using Tapatalk

NASCAR teams have operating expenses as well. I think it is also common knowledge that drivers earn less of a salary than they were previously paid. That's a good indicator of tighter operating budgets for most everyone, in my opinion.

All the while, NASCAR is more of a closed (just trust me) book. I think the assumption is that stock car racing stops without NASCAR and that the teams are expendable. I just don't buy into that, at least when the teams are considered collectively, and they also essential imo. Especially when NASCAR is the one playing hardball.

 

[rd45usa]

I just can't see Nascar wanting to open their books for everybody to see with a lawsuit. Time will tell.

 

[rd45usa]

I'm sorry, what gambling revenue? I don't gamble or follow the industry. I didn't know NASCAR had a gambling revenue source.

Thanks.

Best NASCAR Betting Sites

Here’s our list of the best NASCAR betting sites available. Start betting on NASCAR Cup Series and Xfinity Series races today at these secure sites.

www.thesportsgeek.com

 

[Charlie Spencer]

Best NASCAR Betting Sites

Here’s our list of the best NASCAR betting sites available. Start betting on NASCAR Cup Series and Xfinity Series races today at these secure sites.

www.thesportsgeek.com

So NASCAR runs these sites?

 

[rd45usa]

So NASCAR runs these sites?

No, the people betting go thru sports betting services.

Legalized betting could drum up interest in NASCAR

NASCAR should get a boost in exposure thanks to the Supreme Court ruling opening up sports betting to all states, but don't expect it to be a gold mine from the start.

www.espn.com

 

[aunty dive]

So NASCAR runs these sites?

NASCAR Goes All-In on Sports Gambling

NASCAR has gone all in on sports gambling, as it looks to increase revenue and expand viewership beyond its traditional audience.

heavy.com

 

[antman12]

There’s a reason Steve Latarte has a 30-60 second segment going over the “live odds” partway through the race… It’s brought to you by (sponsored/paid by) Draftkings.

https://www.roadandtrack.com/news/a46297310/nascar-has-a-new-gambling-partner-in-draftkings/

 

[Charlie Spencer]

@rd45usa , @aunty dive , so NASCAR isn't directly involved in the gambling but gets paid by the gambling companies to use its name, like any other 'official partner' relationship or at-track vendor? I read both articles but I'm not clear on how NASCAR is making money from someone else's gambling operations, or whether there's enough involved for it to be significant in charter negotiations. This doesn't sound like money on the level of the four Cup series sponsors.

 

[Dwayne]

I am still waiting to hear or read one credible reason that these two teams did not sign.

If I'm a team owner and one of my teams is in 12th and doesn't make the playoffs while a team in 34th does....

 

[DIDIT]

Uncertainty of charter values going forward … some teams, including 23X1 and FRM paid tens of millions for what they thought would remain as appreciating assets?

Sports gambling revenue split?

NASCAR’s speculative desire to charter / operate teams of its own? Flies directly in the face of antitrust law.

I think it’s a mistake to underestimate this group of people.

Regarding buying a charter, the teams clearly knew the conditions of the charter agreement when purchased. That's business, risk, and speculation. Every day businesses buy what the think would be an appreciating asset but it fails to materialize.
Sports gambling...I am not understanding where you are going with this in regards to the charters and I don't see any definitive abuse of antitrust laws

If I'm a team owner and one of my teams is in 12th and doesn't make the playoffs while a team in 34th does....

I don't understand your point here???

 

[StandOnIt]

Regarding buying a charter, the teams clearly knew the conditions of the charter agreement when purchased. That's business, risk, and speculation. Every day businesses buy what the think would be an appreciating asset but it fails to materialize.
Sports gambling...I am not understanding where you are going with this in regards to the charters and I don't see any definitive abuse of antitrust laws

I don't understand your point here???

Neither do I. Racing teams are free to go race in any series they choose. The charters actually help if teams choose to leave Nascar.

 

[Charlie Spencer]

I don't understand your point here???

His point is that 34th-place Burton was in the playoffs while 23XI's 12th-place Wallace will wind up no better than 17th for the season; and that may be another reason the team hasn't signed.

EDIT - I don't see the outcome of any potential lawsuit resulting in a change to the competition rules.

 

[aunty dive]

Regarding buying a charter, the teams clearly knew the conditions of the charter agreement when purchased. That's business, risk, and speculation. Every day businesses buy what the think would be an appreciating asset but it fails to materialize.
Sports gambling...I am not understanding where you are going with this in regards to the charters and I don't see any definitive abuse of antitrust laws

It’s so easy to be misunderstood here.

Are the charters balance sheet assets or are they operating statement expenses whose cost is spread out over the time remaining on the agreements? Corporate income taxes payable are very different in each case. Obviously, the 2 outliers are in the former camp and may attempt to prove that by legal / accounting means. I have no way to know whether or not they’d be successful and take no position either way. Not enough information.

I haven’t suggested that any potential sports betting revenue splits have anything to do with the anti-trust issues involving the charters. Apparently other revenue sharing disagreements have been resolved. I brought it up simply because Chris Polk mentioned it as an unresolved issue during an interview I read about.

He also said: “We will continue to race. We have the resources.” I need some new kicks. I think I’ll go to the Nike Store.

 

[Charlie Spencer]

I haven’t suggested that any potential sports betting revenue splits have anything to do with the anti-trust issues involving the charters.

Thanks. If there isn't any documented issue, I'll quit wondering how it works.

I think I’ll go to the Nike Store.

Let us know if you bump into @Revman doing his part to support one of HIS Yoyos.

 

[hmmm298]

Thanks. If there isn't any documented issue, I'll quit wondering how it works.

Let us know if you bump into @Revman doing his part to support one of HIS Yoyos.

He's probably out crash studying for the BAR right now before the end of the season to try to keep them there.

 

[Revman]

Thanks. If there isn't any documented issue, I'll quit wondering how it works.

Let us know if you bump into @Revman doing his part to support one of HIS Yoyos.

Ride or die Nike. Of course.