High Limit Racing is creating a charter system for its teams, set to be implemented in 2026.
The series, co-owned by five-time World of Outlaws champion Brad Sweet and NASCAR champion Kyle Larson, along with FloSports’ minority ownership stake, will split media revenue with its teams following its first two seasons as a national tour.
High Limit Racing will give out 10 total charters over the 2024 and 2025 seasons.
The top five finishing teams in the 2024 point standings will receive the first five charters.
The five highest-finishing teams that don’t already have a charter in 2025 will receive the latter half of the 10 charters handed out, based on their average points finishes from the 2024 and 2025.
In 2026, teams with a charter will receive 50 percent of High Limit Racing’s annual streaming revenue in monthly, fixed payments that will be given out based on average finishing position over the 2024 and 2025 seasons as well as race wins.
“(Sprint car racing) has changed over the last four to five years with streaming money coming in and some money goes to teams, but ultimately what we want to do is build High Limit and truly align ourselves with the team owners, who are the backbone of the sport and allow us (drivers) to showcase our skillset,” Sweet told Adam Stern of Sports business journal. “We want to reward teams with a charter or franchise that aligns our interest so a revenue share as we grow together, they’ll be a part of the growing process.”
Teams will keep their charter eligibility only by competing in every race. Charters can not be leased to someone else and team owners (or those with a combined majority interest) are only allowed to have two charters.
The charter system will not entirely replace the end-of-year points fund, but High Limit does have plans to reconfigure it beginning in 2026.
In order for outside teams to gain access to a charter, they must buy them away from an existing team with one.
A system similar was implemented in NASCAR in 2016, where 36 teams were given a charter at the beginning. The most recent charter sale was purchased for an amount that neared $40 million.
The system was created with the intentions to award more money to drivers and teams and also create value in owning a team that races in the High Limit series.
It has already created a vested interest, with 10 teams committed to running the series full-time in 2024 at the time this article was written.
Fans can tune into every race on FloRacing, beginning with the season opener at East Bay Raceway Park on Monday, February 12.
