Dale Earnhardt Jr., co-owner of JR Motorsports, could jump into the NASCAR Cup Series, spurred by growing interest from private equity firms in the premier stock car racing series. JR Motorsports is currently active in the Xfinity Series and zMAX CARS Tour. Dale Jr. previously regretted missing out on an opportunity to acquire a Cup Series charter a few years ago, thinking the current price was too high.
According to Sports Business Journal, growing interest from private equity firms and sports funds in the industry has led to speculation about JRM’s possible entry into the Cup Series. If the fund can help Dale Earnhardt Jr. purchase a charter, one of NASCAR’s most popular characters could become a Cup team owner. NASCAR’s upward trajectory in recent months has reportedly attracted interest from private equity firms and sports funds looking at the premier stock car racing series as an investment opportunity.
Rising valuations for charters are said to be attracting investors. Trackhouse Racing recently brought on Marc Lasry’s Avenue Sports Fund as a “significant minority investor” in the team. Similarly, Joe Gibbs Racing has signed a deal with Harris Blitzer Sports & Entertainment, and Fenway Sports Group is a longtime investor in RFK Racing. Amid the reported interest from private equity groups and sports funds, NASCAR is drafting new rules for investment in new charter deals. The new rules could reportedly prevent sovereign wealth funds from investing in teams. Other restrictions include the maximum percentage the funds can take and details of who will operate/manage the teams.
The timeline for finalizing new charter agreements remains unclear as Cup team owners push for permanent charter agreements. In contrast, NASCAR has reportedly proposed a seven-year extension with an option for another seven years.
Dale Earnhardt Jr. talks about buying a NASCAR Cup charter
JR Motorsports is co-owned by Dale Earnhardt Jr. and his sister, Kelly Earnhardt Miller. Dale Jr. had previously expressed an interest in becoming a Cup Series team owner and was exploring options with his sister, Kelly.
A few months ago, the NASCAR Hall of Famer spoke about the possibility of JRM becoming a Cup Series team on the Dale Jr. Download podcast. He revealed that he had talked to various team owners about a possible partnership, but none of them were successful. “Kelly (Earnhardt Miller) and I have talked about getting in and we thought there were some opportunities for that. We’re still talking to people. We are still at the negotiating table with various teams and talking about possible partnerships and investments. We are always open to hearing how anyone envisions partnering with us. No one has yet thought this would be a win-win… the perfect combination,” he said. [9:11 p.m.]
Dale Earnhardt Jr. also insisted he doesn’t want to buy a charter for profit, emphasizing that becoming a Cup team owner is a lifelong journey for him.
