Leading NASCAR teams have shown interest in buying the organization if it is ever put up for sale, as the ongoing antitrust trial exposes growing rifts between teams and the France family–controlled league. Speculation intensified last Friday when Jonathan Marshall, executive director of the Race Team Alliance, indicated that several prominent teams would consider acquiring NASCAR Holdings if such an opportunity arose, placing focus on the prospect of NASCAR teams buying NASCAR.
Growing Interest from Within the Sport
Sources cited by the Sports Business Journal confirmed that Jonathan Marshall’s comments during the trial are not just hypothetical, but reflect genuine conversations among teams at the top of the sport. The possibility of a sale comes as NASCAR is valued at $5 billion, according to a Goldman Sachs 2023 report, and could mark a historic shift in how the league is governed and owned.
“At least some NASCAR Cup Series teams would be interested in bidding to buy [NASCAR] should the property ever be put up for sale,”
Adam Stern wrote on X. — Adam Stern, Reporter
Previous Models in Motorsports Acquisitions
Mergers or sales involving major motorsports organizations are not unprecedented. In 2019, Penske Corporation, led by Roger Penske, took over INDYCAR and the Indianapolis Motor Speedway, demonstrating that outside groups and powerful individuals can drive substantial change in series ownership. Penske’s takeover included the acquisition of major assets and brought new leadership to the iconic motorsports property.
Outside interest also hovers over the league. Liberty Media, which controls both Formula 1 and MotoGP, and TKO Group Holdings are rumored as possible buyers, indicating that media and entertainment giants see potential in acquiring or partnering with NASCAR Holdings.
Economic Fault Lines Exposed by Antitrust Lawsuit
The current climate around NASCAR is shaped by the ongoing antitrust trial, with teams like 23XI Racing and Front Row Motorsports having committed tens of millions of dollars to their operations and charters. According to public disclosures, 23XI Racing co-owner Michael Jordan has invested approximately $40 million since the team’s debut in 2021 and its recent acquisition of a third Cup charter. The dissatisfaction with the terms offered in the league’s updated charter agreements led teams to file suit, challenging what they describe as a system that undermines the economic health of most teams.
While NASCAR Holdings posts sizable profits—netting about $103 million so far in 2024 and averaging $340 million annually between 2023 and 2024—most Cup Series teams face financial strain. Data tied to the lawsuit indicate an average loss of $2.2 million per chartered car in 2024, with only three teams turning a profit and just one exceeding $150,000 profit per car.
Fans and Stakeholders Call for Change
The idea of allowing NASCAR teams to take an ownership role sparked intense debate online. Reactions to Adam Stern’s post on X highlighted calls for a structure more similar to other professional sports leagues, where teams or ownership groups have a direct say in governance and profit sharing.
“A commissioner, ownership group with a driver’s union like every other sport,”
a fan shared. — Fan, NASCAR Supporter
“That would be the best thing for the sport by letting the teams own it and then pick a commissioner that decides everything like [Mark Martin],”
another fan wrote. — Fan, NASCAR Enthusiast
Other fans suggested partial ownership stakes for teams while leaving ultimate control with the France family, expressing hope for proposals that would balance tradition with fair representation.
“Why not offer a 5% stake in the company to each of the 15 teams? 25% stays with the France family. Most teams would likely be aligned with the France family anyway. And they can retain final decision making when it comes to voting on company-wide proposals.”
— Fan, NASCAR Commentator
What Lies Ahead for NASCAR Governance?
With tensions mounting between teams and the France family, as well as an active antitrust lawsuit spotlighting the sport’s financial inconsistencies, the groundwork may be laid for substantial structural changes. The public airing of teams’ struggles and potential interest from sports and entertainment giants like Liberty Media and TKO Group Holdings suggests that the question of NASCAR teams buying NASCAR could become a defining issue for the league’s future. Should any sale or reorganization proceed, fans, teams, and stakeholders are likely to press for reforms that better balance profitability, representation, and the long-term health of professional stock car racing.
At least some NASCAR Cup Series teams would be interested in bidding to buy @NASCAR should the property ever be put up for sale, people familiar confirm, following Jonathan Marshall's testimony Friday. https://t.co/xHvBANR6bs
— Adam Stern (@A_S12) December 8, 2025
A commissioner, ownership group with a driver's union like every other sport
— megadoomer(7-6) (@Megafrayder2) December 8, 2025
That would be the best thing for the sport by letting the teams own it and then pick a commissioner that decides everything like @markmartin
— Ranson Poore (@rpoore24) December 8, 2025
Why not offer a 5% stake in the company to each of the 15 teams? 25% stays with the France family. Most teams would likely be aligned with the France family anyway. And they can retain final decision making when it comes to voting on company-wide proposals.
— dom (@wwu1100) December 8, 2025
