With Formula 1 growing stronger in America, NASCAR is making moves abroad.
The racing series is starting a division in Brazil through an agreement with the GT Sprint Race series. The 10-year-old, 18-race series will be rebranded as the NASCAR Brazil Sprint Race.
- The series, which will launch next year, will be NASCAR’s first in South America.
- Brazil joins Mexico, Canada, and Europe in hosting NASCAR series.
- NASCAR will hold races in 12 countries across three continents next year.
NASCAR is not acquiring the GT Sprint Race as part of the arrangement. The move could appeal to NASCAR sponsors GM and Toyota, who have major business interests in Brazil.
NASCAR broadcasts its races in Brazil through a deal with Band Sports.
Teams Call for Changes
Negotiations between NASCAR and some of its most prominent teams boiled over last month, with team owners telling the media that the current financial model is unsustainable.
Representatives from Hendrick Motorsports, Joe Gibbs Racing, RFK Racing, and 23XI Racing said that they had called for substantial changes, including broader revenue sharing.
Teams earn around 60-80% of their revenue from sponsorships. NASCAR distributes 25% of its media revenue to teams.
NASCAR has sought to reduce costs through its Next Gen car, but the vehicle has raised safety concerns.