Stewart Haas Racing, a prominent team in the Next-Gen era, has been performing poorly. They have only managed to secure three wins since the 2022 season and were unable to win any races last season. Their current form does not indicate a quick recovery. The team’s lack of strong leadership and the loss of major sponsorship deals after Tony Stewart and Ryan Preece’s retirements have put them in a difficult position.
According to reports from the Sports Business Journal, Stewart Haas Racing is planning to scale down their operations in the upcoming season. It is rumored that they will be selling two of their charters and parting ways with two of their drivers. This move may also help the team extend their contract with Ford, as their current partnership is set to end soon.
By selling their charters, Stewart Haas Racing can generate enough funds to improve their team. In a recent charter sale, another team earned around $40 million. Considering the desperate situation of SHR, they could potentially earn around $50 million from the sales. However, they may not have the same advantage in the market as the other team did.
There is a high demand in the market for the sale of charters. 23XI Racing, owned by Michael Jordan and Denny Hamlin, has expressed interest in expanding their operation. Other teams like Trackhouse Racing, Spire Motorsports, and Legacy MC are actively searching for new charters to add to their garage.
The announcement of Stewart Haas Racing’s downsizing has received mixed reactions from NASCAR fans. Some fans criticized co-owner Tony Stewart for his lack of passion and alleged that he no longer cares about the sport. Gene Haas, another co-owner, also faced criticism. However, some fans believe that blaming driver Ryan Preece is unfair. While he may be the worst performing SHR racer at the moment, his poor form is mainly due to the uncompetitive machinery provided by the team.
Fans have also made predictions about what could happen if the sales plan is approved. Some suggest that this could be an opportunity for the Earnhardt brands to make a comeback in the Cup series. Others predict that Trackhouse Racing and 23XI Racing may purchase the two charters.
Overall, downsizing seems to be the right move for Stewart Haas Racing given their current situation. By offloading unnecessary resources and focusing on fielding championship-winning cars, they can work towards getting back on track and potentially expand to a four-car team in the future.
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