Chase Elliott Spills the Beans on The Economics of NASCAR

Chase Elliott revealed the economics of NASCAR and how money moved between the teams and the drivers according to the contract.

Chase Elliott Spills the Beans on The Economics of NASCAR

Chase Elliott (via Hendrick)

The life of a NASCAR driver isn’t as simple and glamorous as people make it out to be. While the drivers earn a decent income from racing, there are a lot of life aspects that aren’t covered by the sport or teams. Moreover, there are a lot of binding contracts that the drivers need to stay true to and not violate. As such, Hendrick Motorsports’ star Chase Elliott reveals how money moves between teams and drivers in NASCAR.

Chase Elliott has emerged as one of the better drivers on the NASCAR grid, having achieved over 19 career race wins. This meant that Elliott has garnered a great sum of money from his performances alone. On top of that, sponsorship and brand deals help them further extend their economic portfolio. However, the No.9 driver reveals that it isn’t as simple as ABC to manage these funds as they come in.

Chase Elliott pointed out that he is more or less a contractor for Hendrick Motorsports. This means that he works for the team and brings in income for them with his performances. Elliott reveals that the team owner, Rick Hendrick, is his boss who pays the former his salary according to the contract. However, the 29-year-old clarifies that being a driver isn’t similar to being a freelancer.

Elliott is like an employee at Hendrick Motorsports and earns regular income from the team. Still, this employment doesn’t come with the regular benefits of a company. The drivers do not receive healthcare insurance or other benefits from the team, as it is a separate matter. As such, NASCAR drivers need to pay their own medical bills and are fully responsible for them.

I work for Hendrick Motorsports. So, I’m basically a contractor of Hendrick Motorsports. I work for them. Rick is my boss, and he pays me. You’re not just a freelance dude. I’m very much employed by HMS. But you are responsible for all the things you’re talking about, whether it is health insurance or that sort of thing.

Chase Elliott said on the MeatEater Podcast.

Chase Elliott reveals his true feelings on NASCAR’s podium-style celebration in Mexico

The inaugural Mexico City Cup race witnessed a great fan influx and viewership from global viewers as well. The road course circuit, despite being widely hated, put forth some good racing action. As Shane van Gisbergen took home the victory, NASCAR tried out a Formula 1-style podium celebration with champagne and trophies. However, Chase Elliott, who finished in P3 and fumbled with the champagne spraying, has revealed his true feelings about the sport, wanting to try out a new style.

Christopher Bell, Shane van Gisbergen and Chase Elliott at Mexico City race podium (via Getty)
Christopher Bell, Shane van Gisbergen and Chase Elliott at Mexico City race podium (via Getty)

Chase Elliott noted that podium celebrations are not at all normal for NASCAR drivers despite being widely used in a lot of sports. As such, the podium finisher in Mexico reckoned that he was okay with the glamorous celebration. At the same time, Elliott asserted that he was fine with not doing the celebration on the podium, spraying champagne, and staying true to the sport’s true roots

It’s (podiums) not normal for us, so I am okay with it. I am okay with doing it (or) I am okay with not doing it. If that is going to be a new thing, then it’s totally fine and we can start a new tradition. But that has not historically been us.

Chase Elliott told Cup Scene

NASCAR has continued to gain more and more viewers in recent years due to the increasing appeal of motorsports in general. Racing in different countries and continents would only boost the number, but this change isn’t welcomed with open arms by the fans. Still, the coming years are set to be more successful for the sport as the drivers would hope to earn more money by then.

Read More: Joey Logano Exposes How Donald Trump’s Controversial Announcement Ruined His White House Cup Championship Celebration