Live Fast Motorsports Charter Sale: The 2021 NASCAR Cup Series season saw two high-profile additions to its team roster: Trackhouse Racing Team, co-owned by Justin Marks and Pitbull, and 23XI Racing, the brainchild of Denny Hamlin and Michael Jordan. Amid these renowned teams emerged Live Fast Motorsports, a lesser-known yet significant addition.
Co-owners B.J. McLeod and Matt Tifft ventured into team ownership, with Tifft becoming the sport’s youngest team owner at 24 due to medical reasons sidelining him from driving. The No. 78 Ford/No. 78 Chevrolet was primarily driven by McLeod, shared across the 2021-2023 seasons. However, after three full-time seasons, Live Fast Motorsports has decided to step away from full-time competition in 2024.
Though a team can risk losing its charter if it finishes in the bottom three of the owner standings for three consecutive seasons, Live Fast Motorsports seemed initially secure. Yet, their 2022 and 2023 finishes in the 36th position dashed those hopes, consistently lagging far behind the top tiers.
Optimism was scant for the team heading into 2024. While NASCAR doesn’t automatically repossess charters for underperforming teams making significant strides to improve, Live Fast Motorsports, amid ongoing struggles, seemingly didn’t fit that mold.
Rather than leaving their fate to chance, Live Fast Motorsports took proactive steps, selling their charter to Spire Motorsports for an unprecedented $40 million, dodging any potential charter loss from NASCAR.
Spire Motorsports now owns three charters, with Corey LaJoie returning for a fourth season in the No. 7 Chevrolet. Former Niece Motorsports Truck Series driver Carson Hocevar takes the No. 77 Chevrolet’s helm, replacing Ty Dillon, rumored to be heading to Kaulig Racing.
The intriguing third entry, donning a number unseen in the Cup Series since 2011, will be piloted by former Front Row Motorsports Truck Series champion Zane Smith. Smith inked a multi-year deal with Trackhouse Racing Team but, lacking space in the two-car team, will drive for Spire Motorsports in 2024.
While Live Fast Motorsports won’t compete full-time, they remain open to select starts throughout 2024, confirming plans for all six superspeedway races. McLeod is slated to drive the No. 78 Chevrolet at Daytona International Speedway’s season-opening Daytona 500, actively seeking potential road course drivers to expand their schedule.
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Our Reader’s Queries
Who bought Live Fast Charter?
McLeod’s Live Fast Motorsports charter was sold to Spire Motorsports before the 2023 season ended. Although financial details were not disclosed, it is believed that the charter, which McLeod acquired from Go Fas’ in 2021 for around $10 million, was sold to Spire for approximately $40 million.
Who owns Live Fast Motorsports?
Live Fast Motorsports is a US-based stock car racing team that competes part-time in the NASCAR Cup Series. The team is owned by B.J. McLeod and Joe Falk and currently runs the No. car.
Who does Trackhouse Racing have an alliance with?
Trackhouse Racing recently revealed its multi-year driving agreement with the 2022 truck series champion, Smith. The team’s goal is to operate three full-time NASCAR Cup Series entries by 2025. Smith will race full-time in the Cup Series in 2024, driving a Chevrolet for Spire Motorsports in partnership with Trackhouse. This exciting announcement marks a significant step forward for both Smith and Trackhouse Racing, and we can’t wait to see what the future holds for this dynamic duo.
How many charters does Spire Motorsports have?
Spire Motorsports recently revealed that they have obtained a third charter, which they will lease to Trackhouse Racing for the upcoming 2021 season. This exciting news has been making waves in the racing community, as it means that Trackhouse Racing will now have the opportunity to compete at the highest level with the support of Spire Motorsports. With this new partnership, both teams are sure to make a big impact on the racing scene in the coming year.
