Before NASCAR finalizes its new charter agreement with full-time teams, which is still under negotiation, the organization is implementing significant internal changes.
NASCAR is rearranging several executive roles, as first reported by Sports Business Journal. President Steve Phelps will take on more responsibilities, focusing on the sport’s strategic vision and the global expansion of NASCAR-owned racing properties.
Ben Kennedy, a former racer and potential successor to current NASCAR CEO Jim France, will transition from SVP of Racing Development and Strategy to EVP and Chief Venue and Racing Innovations Officer. This new role will merge the scheduling and facility development groups with NASCAR’s consumer strategy division.
Kennedy, 32, is the son of Lesa France Kennedy, NASCAR’s current Executive Vice Chair. Lesa France Kennedy, 63, may assume the CEO role before her son. Kennedy has been influential in many of NASCAR’s recent major changes, including schedule diversification.
Tim Clark will step in as NASCAR’s new EVP and Chief Brand Officer. Eric Ryan will become the SVP and Chief Communications Officer, while Nick Rend will move from Managing Director of Gaming and Esports to VP of Interactive and Emerging Platforms. These decisions are crucial as NASCAR aims to demonstrate its capacity for substantial internal shifts before securing a new charter agreement. These moves also indicate NASCAR’s readiness to innovate ahead of its new broadcast rights agreement, set to begin in 2025, when Amazon and Turner Sports will broadcast Cup Series races.
NASCAR teams are advocating for the new charter agreement to allocate them a larger share of the revenue from the upcoming broadcast deal. Valued at nearly $8 billion over seven years, the media rights deal is a significant source of funding, and teams want NASCAR to cover a portion of their expenses. Team owners are also requesting permanent charters to ensure long-term stability.
