HIGH LIMIT SPRINT CAR SERIES DEVELOPS CHARTER SYSTEM
The High Limit Sprint Car Series, owned by 2021 NASCAR Cup champion Kyle Larson and five-time World of Outlaws champion Brad Sweet, will introduce a charter system beginning at the conclusion of the 2024 season with a goal to be fully functional by 2026 according to Adam Stern at the Sports Business Journal.
Based on points at the end of 2024, the top five teams will be awarded charters. At the conclusion of 2025, another five teams will receive charters based on their performance during the 2024 and 2025 seasons. These will be the top performing teams that do not already have one of the original five charters. To be eligible for a charter, teams must compete in every High Limit race.
Once the charters have been established, media revenue distribution will start in 2026 with 50 percent of the streaming revenue going to chartered teams. Teams will receive this revenue in monthly fixed payments that vary based on the performance of the team, measured by factors including their average finishing position, race wins and championships.
MORE: Kyle Larson wins inaugural High Limit title
"(Sprint car racing) has changed over the last four to five years with streaming money coming in and some money goes to teams, but ultimately what we want to do is build High Limit and truly align ourselves with the team owners, who are the backbone of the sport and allow us (drivers) to showcase our skillset," Sweet told Sports Business Journal. "We want to reward teams with a charter or franchise that aligns our interest so a revenue share as we grow together, they’ll be a part of the growing process."
These charters cannot be leased to another team and are limited to two per owner. Teams will retain their charters so long as they continue to run all the races.
High Limit was launched with the stated purpose of creating bigger purses and midweek races. The series states they will award $5 million to drivers in 2024 and wants to create a program with lasting value to the owners along the same lines as NASCAR's franchise system, which was created in 2016. In 2024, High Limit has created an inter-series championship called the Midweek Money Series as part of their 60-race calendar.
FloSports currently has the streaming media rights and is also a minority investor in the High Limit series. CEO and co-founder of FloSports, Mark Floreani is also a board member of High Limit and an advocate for the charter system.
"We wanted to have a system where the teams know that even if they have a down year, they’re still adding value hopefully in their asset," said Floreani.
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