Hendrick Motorsports, Dale Jr. Again Top Forbes' NASCAR Valuations

Hendrick Motorsports remains NASCAR's "strongest and most valuable team," according to Kurt Badenhausen of FORBES. With a valuation of $350M on revenues of $177M in '10, Hendrick is "worth 56% more than the next-highest-grossing team, Roush Fenway Racing," which is valued at $224M on revenues of $140M last year. One team "on a roll" is Earnhardt Ganassi Racing, worth $76M, ranking it eighth in NASCAR. EGR's value is up 7% as Chip Ganassi became the first owner to capture the Daytona 500, Indianapolis 500 and Brickyard 400 in the same year. Sponsorship revenue for the team is "expected to be up 20% this year." The average value of NASCAR's top 10 teams slid 5% last year to $136M, "as prize money dropped and sponsors dialed back their commitment." But a "rebound in 2011 for the sport is a strong possibility." NASCAR's ability to "mobilize massive numbers of fans is its greatest strength, and why reports of NASCAR's demise are greatly exaggerated." NASCAR, "by many measures, is still the second-most-popular sport in the U.S." behind football, as it "counts 30 million people as avid fans." Attendance "may be down, but 100,000 people still show up to see each race" (FORBES.com, 2/23).

NASCAR'S MOST VALUABLE TEAMS
RANK	TEAM	VALUE	% +/-	PROFIT
1	Hendrick Motorsports	$350M	0%	$18.2M
2	Roush Fenway Racing	$224M	-6%	$8.6M
3	Richard Childress Racing	$158M	3%	$5.9M
4	Joe Gibbs Racing	$152M	6%	$8.7M
5	Penske Racing	$100M	-9%	$4.5M
6	Stewart-Haas Racing	$95M	-3%	$5.9M
7	Michael Waltrip Racing	$90M	2%	$5.8M
8	Earnhardt Ganassi Racing	$76M	7%	$5.2M
9	Richard Petty Motorsports	$60M	-52%	$5.4M
10	Red Bull Racing	$58M	-2%	$2.8M

DALE JR. TOPS DRIVER LIST: FORBES' Badenhausen reported Dale Earnhardt Jr., "despite his lack of success in recent years on the track," is still NASCAR's highest-paid driver, earning $29M in '10. Earnhardt "remains NASCAR's highest-paid driver thanks to merchandise sales that are the best in the sport and reportedly account for one-third of all NASCAR licensed merchandise sales." Other income streams include an "eight-figure annual salary from Hendrick and a 50% share of his $4.9 million in winnings and bonuses in 2010 from Sprint Cup races." Earnhardt also has a "bevy of personal endorsements, including Chevrolet, Nationwide and Wrangler" (FORBES.com, 2/23).

NASCAR'S HIGHEST-PAID DRIVERS
RANK	DRIVER	TEAM	EARNINGS
1	Dale Earnhardt Jr.	Hendrick	$29M
2	Jeff Gordon	Hendrick	$25M
3	Jimmie Johnson	Hendrick	$24M
4	Tony Stewart	Stewart-Haas	$18M
5	Kevin Harvick	Richard Childress	$15M
6	Carl Edwards	Roush Fenway	$14M
7	Kyle Busch	Joe Gibbs	$13M
8	Kasey Kahne	Red Bull	$11.5M
9t	Denny Hamlin	Joe Gibbs	$11M
9t	Matt Kenseth	Roush Fenway	$11M