Richard Childress is one of the longest-serving team owners in NASCAR, with more than 50 years of tenure. He\u2019s seen the sport enjoy its greatest heights of popularity and success, but has also seen it struggle for attendance, TV viewership, and lack of fan interest.<\/p>\n
NASCAR has tried all types of methods to get things back on an upward swing, including new tracks (and styles of races, such as the Chicago Street Race), the charter system, changes in the playoff format, and more.<\/p>\n
In a recent episode of Lights Out with Johnny Roberts, the 79-year-old Childress discussed his thoughts on NASCAR\u2019s current business model, even amid NASCAR\u2019s nearly $8 billion, multiyear TV deal between FOX, Amazon Prime, TNT and NBC.<\/p>\n
\u201cI think the business model has got a long way to go before it\u2019ll work good for the car owners,\u201d Childress said firmly. \u201cThis car (the Next Generation\/Gen 7 car, which was introduced in 2022) came out being much, much more expensive than any of us thought it would be.<\/p>\n
\u201cSome of the traveling we\u2019re having to go now, Mexico, San Diego next year, all these things add up to extra dollars. There\u2019s got to be a little more work done on the business model before it becomes a really, really solid business model.\u201d<\/p>\n
One of the biggest keys to achieving success on the racetrack is to sell significant amounts of sponsorship so that teams can afford the right parts and pieces, as well as to hire and retain key personnel to run the teams.<\/p>\n
Sponsorships can only go so far<\/p>\n
When asked if sponsorships are enough to make it a profitable venture, Childress surprised somewhat with his blunt reply.<\/p>\n