Understanding the RWR Racing Sale

If You're New to NASCAR... Understanding the RWR Racing Sale

In June 2025, an agreement was announced for T.J. Puchyr to purchase RWR Racing. Puchyr is a former co-founder of Spire Motorsports, which currently fields the 77 of Carson Hocevar, 71 of Michael McDowell, and the 7 of Justin Haley in the NASCAR Cup Series. Puchyr had sold his shares of Spire Motorsports in 2024. The transaction, effective for the 2026 NASCAR season, occurred as the NASCAR Charter System entered its eleventh year, having been enacted in 2016.

CHARTER VALUE - Was the primary driver in this transaction. A NASCAR Charter grants a team a guaranteed starting spot in every Cup Series race and a share of the sport’s television revenue and prize money. Puchyr's strategy focused on acquiring these Charters as appreciating assets. His expressed belief was that Charters are significantly undervalued, with a projected worth exceeding seventy-five million dollars per Charter. This investment is distinct from the operational profitability of simply running the race team.

CHARTER HISTORY - Started in 2016 to bring much-needed stability and financial predictability to team owners. Chartered teams are guaranteed entry into every event, removing the need to qualify on speed each weekend, and benefit from a predetermined payout structure per finishing position. At the time of the sale Rick Ware Racing operates with two such charters: Charter No. 27, which for the 2025 season is leased to RFK Racing for their No. 60 car driven by Ryan Preece, and Charter No. 36, primarily associated with RWR's own No. 51 car driven by Cody Ware. For example, RWR Racing has been involved in an ongoing lawsuit with Legacy Motor Club. Legacy alleges RWR backed out of a signed Charter sale agreement, claiming it was for Charter No. 27 for the 2026 season. RWR countersued, contending the agreement was for Charter No. 36 for the 2027 season, highlighting a dispute over both the specific Charter number and the transfer date. Legacy's initial request for a preliminary injunction to force the sale was denied in May 2025, meaning the legal battle continues to determine the Charter's fate and ownership. This legal conflict underscores the intricate nature of Charter transactions.

CODY WARE - Son of founder Rick Ware, he continues his role as a driver for the team under the new ownership. Ware competed full-time in the Cup Series in 2022, and notably secured a career-best fourth-place finish in a 2024 Cup Series race at Daytona. He is slated for a full-time return to the No. 51 in 2025. This maintains a level of continuity for the operation.