NASCAR teams hired antitrust lawyers amidst a sharing model dispute with the sanctioning body
NASCAR and its teams have been at a crossroads over the deal for a long time.
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NASCAR Truck Series race at Talladega (Via IMAGO)
NASCAR is the premier stock racing series in the world and hosts some of the most thrilling Motorsports events every year. The organization is owned by the France Family, descendants of Bill France Sr., who built the stock car racing empire in 1940, merging regional racing organizations and championships.
The revenue-sharing model of the sport has long been a big discussion point in the garage, and recently, it has gotten more dramatic as the charter deal NASCAR has with teams is set to end soon. They have been discussing a new deal for over the last two years, and even after NASCAR signed a new $7.7 billion broadcasting deal, the charter drama is yet to be resolved.
Now, it has been reported by the Associated Press that the Race Team Alliance, the group formed by the NASCAR team, has hired Jeffrey Kessler. He is a partner and co-executive chair of Winston & Strawn LLP, and he will serve as an advisor in their fight with the sanctioning body to secure a suitable revenue-sharing deal.
15 of the majority of the NASCAR team owners attended the meeting at the Daytona International Speedway. NASCAR was also given a written invitation to the meeting, but they refused to send any representative to the meeting. The revelation of hiring the antitrust and sports lawyer came after this meeting.
Jeffrey Kessler’s hiring is too big for NASCAR to ignore
The NASCAR Cup teams wish to get more financial support, which they deserve, from the sanctioning body, and demands for permanent charters put much pressure on the shoulders of the managing body. Having Jeffrey Kessler, one of the best antitrust lawyers in the USA, will give the teams more advantage, and it’s a big challenge to the iron fist rule of the France family.
Jeffrey Kessler has a big CV with multiple litigations he has been part of that changed respective sports forever. He was part of the team that made Division 1 College football owners allow athletes to get paid and played a significant role in US Women’s Soccer teams’ fight for equal pay. Kessler has also worked in matters involving the NFL and NBA.
With the charter deal ending at the end of the season, resolution of the issue is the need of the hour as the NASCAR teams are struggling with the current financial model they are working with. The drying up of sponsorship revenue is another big issue as well. Fans are expecting a rational solution for the issue soon.
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Justin P Joy
(4859 Articles Published)