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Kauffman Hopes To Create More Stable Model For NASCAR Teams With Franchising System
Published December 3, 2015
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OWNERSHIP STAKES: Kauffman touched on his decision to purchase a stake in Chip Ganassi Racing, which he said is completed but will not be formally announced until after NASCAR's champions week. He said of dropping his stake in Michael Waltrip Racing, which folded, "I don't like to quit, but at some point, if you're a disciplined investor and business person, you have to make some decisions about whether it's working or not. The team had some setbacks in 2013 from their Spingate issue; we tried to reboot in 2014; in 2015, the team had all the resources I felt it needed to be able to perform, and we weren't able to make that combination. So that, plus the business structure of the sport -- which currently isn't very stable, where sponsor contracts are 70% of your income and you're kind of on a George Jetson treadmill of trying to renew your contracts -- it just wasn't getting it done. ... I don't mind spending money, but I hate losing money."
COMING SOON: Kauffman said the next priority for the RTA after completing the charter system would be the digital media revenue-distribution and structure side. He added, "Everyone feels there's a huge amount of growth in that, and it's pretty big, but it's not anywhere near as organized as it could be. Everyone thinks there's a lot of potential there and that's where we can ... grow the sport."