NASCAR teams navigating chaotic charter market ahead of 2022

CHARLOTTE, N.C. (AP) — Kaulig Racing bought two charters to take its Xfinity Series team to NASCAR’s top level. Matt Kaulig is believed to have paid $10 million for each of the two charters he bought from Spire Motorsports. That has the industry in a frenzy. A charter guarantees a team a spot in the field each week, as well as a portion of guaranteed money from NASCAR. The charter market is red hot right now since NASCAR is unveiling a newer, cost-friendly car next year. Owners say sponsorship money is still critical to running a team.