“The Charters Are Worth $75 Million or More!” Spire Motorsports Co-Founder Set to Buy Rick Ware Racing

Spire Motorsports co-founder T.J. Puchyr will be taking over Rick Ware Racing with massive plans for expansion.

“The Charters Are Worth $75 Million or More!” Spire Motorsports Co-Founder Set to Buy Rick Ware Racing

T.J. Puchyr (image via Daytona Beach New Journal), Cody Ware in the No. 51 Ford (image via TobyChristie.com)

NASCAR charters have become a point of controversy in recent months due to the lawsuit launched by 23XI Racing and Front Row Motorsports. Nevertheless, stakeholders remain interested in the 36 charters which allow teams to compete in the series and gain financial benefits. Now, Spire Motorsports co-founder T.J. Puchyr has announced that he will be buying Rick Ware Racing with big plans for the future.

Puchyr has kept a close eye on NASCAR charters for almost a decade. He was originally hired by Furniture Row Racing owner Barney Visser alongside Jeff Dickerson in 2018, to sell the team’s charter. Puchyr and Dickerson failed to find a buyer as the series was facing a difficult state commercially.

Ultimately, the two decided to buy it themselves for $6 million, and launched Spire Motorsports. Though, TJ sold his shares in the team last year to Dan Towriss, who now heads Cadillac’s upcoming F1 team.

Over the years, T.J. Puchyr and Jeff Dickerson have been credited for the increase in value of NASCAR charters. Stewart-Haas Racing, which shut shop last season, sold their charters for around $30 million as per AP.

TJ has some big plans for his acquisition of Rick Ware Racing. He wants to convert the operation into a three-car team in the near future. Moreover, Puchyr has shown faith in NASCAR’s future plans, despite the ongoing charter lawsuit. So much so, that the Spire co-founder is confident that these charters could be worth upwards of $75 million.

I am bullish on wanting to build a three-car team. I believe in the France family and the direction of the sport and I want the rest of the shareholders and industry to know that I believe the charters are worth $75 million or more.

T.J. Puchyr told AP

T.J. Puchyr faces legal battle over Legacy charter saga

While currently Rick Ware Racing operates a single charter, run by Ware’s son Cody in the No. 51 Ford, the team also has a second charter. The second charter is currently leased to RFK Racing. However, Legacy Motor Club has launched a legal battle against Rick Ware, claiming that they had an agreement to buy this charter for 2026.

Cody Ware driving the Rick Wire Racing No. 51 Ford (image via Getty images)
Cody Ware driving the Rick Wire Racing No. 51 Ford (image via Getty images)

Initial court rulings have been in favor of Rick Ware Racing. Though, trouble is not over for T.J. Puchyr. The Spire co-founder will have to put up a fight to ensure that he gets the second charter by next season. Legacy Motor Club is owned by NASCAR Hall of Famer Jimmie Johnson, who has not shown any signs of backing down.

TJ made it clear that he was open to discussing the current scenario of the charter agreement. However, Puchyr remained adamant that he would not let things go out of hand, hinting that he will only be happy when he gets back the second charter.

If anybody deserves a pass it is Jimmie and if he wants to sit down and talk about it like men, I’d entertain the conversation. I don’t think Jimmie has all the facts, doesn’t understand the deal we had, and they tried to humiliate Rick publicly. We don’t do business that way.

T.J. Puchyr said

The Spire co-founder is making a big bet by acquiring Rick Ware Racing. It seems that T.J. Puchyr is ready to invest into the team’s expansion as he looks at the big picture. Moreover, all current employees at the team will be retained as part of the deal. Thus, fans must keep an eye on what TJ’s team is up to in the coming months.

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