Reports reveal NASCAR’s multi-billion-dollar income in 2024

Reports from Fox Sports have revealed NASCAR’s financial structure in detail. The data, now public through documents in an ongoing antitrust lawsuit, shows the manner in which NASCAR generate profits.

The lawsuit was originally filed by 23XI Racing, co-owned by Denny Hamlin and Michael Jordan, along with Front Row Motorsports. The case, which accuses NASCAR of running a monopoly that limits teams’ financial stability, has led to the documents showing the sport’s profits, payouts, and costs being made public.

NASCAR’s financial disclosures show that it made $1.7 billion in revenue in 2024, despite its total income falling sharply from the previous year. In 2023, the organization had reported $537 million in comprehensive income, boosted by the $543 million sale of land at California Speedway.

By comparison, NASCAR’s net income dropped to about $103 million in 2024. The data also confirms that NASCAR remains a profitable entity overall.

It paid an average of $670 million to teams and tracks during the 2023–24 season and still averaged $340 million in annual profit. NASCAR’s assets are valued at $1.18 billion after depreciation, including 17 tracks and major facilities.

At the same time, teams participating in the Cup Series continue to face expenses. Chartered teams earn between $7 million and $18 million per season before sponsorships, with payouts determined by performance and charter status.

Each chartered entry gets around $141,000 per race, which can go up to $185,000 depending on ranking. A top-performing team might make about $488,000 per event, while the championship team earns 8.4 percent of the season-ending points fund, totaling about $2.84 million from the $33.7 million prize pool.

However, the costs of competing in NASCAR outweigh these numbers. The average cost of running a Cup car in 2024 was just over $20 million, according to estimates shared in court documents and reports by SportsPro. The high costs of parts, staff, and operations, combined with NASCAR’s control over suppliers and payments, make it difficult for most teams to generate any profit. Even as NASCAR raised the total payout to $431 million in 2025 from $333 million in 2024, teams report that it is still not enough to break even.

NASCAR teams continue to struggle despite rising payouts

Despite NASCAR making billion-dollar revenues, Cup Series teams continue to struggle. Documents released as part of the ongoing antitrust case against the governing body show that teams lost an average of $2.2 million per car in 2024.

According to the shared reports, only three NASCAR teams made a profit in 2024, while one lost more than $10 million per car. The lowest-earning team brought in $8.2 million per car, while the top team earned about $43 million, including race purses, sponsorships, and charter payments. Despite the profits, even the best-funded teams are still burdened by heavy expenses.

Under the current structure, Cup Series teams earn around $185,000 per event, while the top performers take home closer to $488,000. Annual payouts go anywhere between $7 million and $18 million without factoring in sponsorships.

But given that it costs about $20 million to operate a NASCAR car, the economics are unbalanced. Teams argue that NASCAR’s control over parts, suppliers, and revenue distribution prevents them from running a sustainable business.

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Edited by Tushhita Barua