NASCAR

Front Row Motorsports intends to buy charter from Stewart-Haas

Published

5m ago

May 30, 2024 / 2821 Views

Evan Walker

FRM currently operates two full-time Cup teams with Michael McDowell (No. 34) and Todd Gilliland (No. 38). McDowell is set to leave the team for Spire Motorsports at the end of the year.

The team has entered a third car on a part-time basis, and recently earned Ford Tier 1 Ford status after forming a technical alliance with Team Penske.

The charters, created with the start of the 2016 season, guarantees a team entry in all 36 points-paying races each year and sets a minimum guaranteed payout for each race. The payouts can change based on where the team ranks in owner points.

Since the charters were introduced, they have increased more than 10 times in value. Spire purchased Live Fast MotorSports’ charter reportedly for around $40 million last year.

Motorsport.com was able to confirm that the new charter FRM is aiming to obtain would come from Stewart-Haas Racing, which announced plans to shut down its four-car operation at the conclusion of the 2024 season.

Read Also:

NASCAR CupStewart-Haas Racing to shut down NASCAR Cup Series operation

However, a purchase cannot be finalized until a new charter agreement is reached. Team owners received a new charter agreement proposal from NASCAR on Tuesday.

"We have a very positive outlook on the future of NASCAR and as the sport plans for success, so do we," said Bob Jenkins, Owner, Front Row Motorsports. "Today that means having a plan for expanding back to three cars in the NASCAR Cup Series. I always have the vision to continue to grow and improve our team and that commitment and desire never changes. I am committed to the sport and its passionate fans and partners."

Added FRM General Manager Jerry Freeze: "It is good to get the news out now as we have a lot of work to do to prepare a new team. All of us on the leadership team will be working through that, obtaining the parts and pieces needed for the new team. And, most importantly, adding to the dedicated and talented staff and culture that exists today within our organization."

Front Row Motorsports won the 2021 Daytona 500 with McDowell and has four wins total as a Cup Series organization.

There is no indication on FRM's full 2025 driver lineup, but Riley Herbst is likely a leading candidate, as are the current SHR drivers currently looking for rides in 2025.