Leavine Family Racing secures NASCAR Sprint Cup Charter
By Ted Fleming
Purchase of Charter from Tommy Baldwin Racing allows team to automatically qualify for every Sprint Cup race in 2017.
Leavine Family Racing announced today that they have secured an ownership charter in the NASCAR Sprint Cup Series after it was acquired from Tommy Baldwin Racing. LFR ran two cars in 2016, the No. 59 by Michael McDowell and the No. 95 who ran a part time schedule by Ty Dillon. Regan Smith piloted the No. 7 for TBR.
“Leavine Family Racing is committed to continued growth on and off the race track,” said owner Bob Leavine, in a release. “The charter is a meaningful step forward for our team and provides us further stability as we look towards success in 2017 and beyond. We are confident that the purchase of the charter and continued improvement on the track will lead to increased revenue opportunities.”
It is not known if Tommy Baldwin will remain in NASCAR is come capacity and there is no comment from LFR if they will run three cars next racing season. TBR had a charter for his single car team.
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NASCAR instituted a landmark long-term agreement that provides teams with increased business certainty and the ability to work more closely with NASCAR to produce best-in-class racing. Charter teams in good standing are also provided financial certainty and long term market value. Each Charter team owner has a guaranteed entry into the field of every NASCAR Sprint Cup Series points race.
“Today represents a landmark change to the business model of team ownership in NASCAR,” NASCAR Chairman and CEO Brian France said, when making the announcement last Feb. 9. “The Charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors. The Charters also are transferable, which will aid in the development of long-term enterprise value for Charter members.”