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Why the New Charter System Is a Win-Win for NASCAR and Its Race-Team Owners

For nearly 68 years, it's been NASCAR's way or the highway. Tuesday, the sport took perhaps its most significant detour ever when NASCAR announced a revolutionary new system—known as a charter system—had been agreed upon by NASCAR officials and team owners. In the most basic sense, the charter system is the realization of decades of owners' hopes to get some type of equity from NASCAR in return for all the years, if not decades, and the multimillions of dollars they've invested in the sport. Now, when a team owner wants to sell his team—maybe because it's time to retire or he's decided not to spend any more money—that owner has a charter to sell to recoup much of his investment over the years. That's unlike the way i...

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