Dale Earnhardt Jr honest about owning team as | Sports News

Rising NASCAR Cup Series constitution costs proceed to discourage the legendary Dale Earnhardt Jr. from owning a team.

Earnhardt Jr. runs an Xfinity team, however with Legacy Motor Club agreeing to a $45 million buy of a constitution from Rick Ware Racing, the $300m NASCAR icon’s hesitancy to make the leap was clear after discussing the game’s newest lawsuit between the 2 groups over the settlement.

“And that’ll go up in a month,” Earnhardt Jr. quipped about the $45m deal, the  largest constitution buy within the sport’s historical past. “You don’t even have a racecar yet. You spend $90 million, $100 million, and then you gotta build a race team,” he added. Continuing, Earnhardt Jr. stated: “It has created a very, very challenging barrier of entry for anyone that’s not a billionaire.”

However, Earnhardt Jr. wasn’t all doom and gloom on the rising constitution costs. In the JR Motorsports proprietor’s thoughts, there are some positives. “A part of me is very happy,” he stated.

“You can start a business, and then you have some value to sell. Literally, in the Xfinity series today, if I wanted to sell this company, you’re selling it for pennies on the dollar. Now, teams have a charter that they can sell, and you got real value. That’s awesome. I love that.”

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“I believe the value of the charters is well north of $150 million. That ceiling, I don’t think anybody can predict,” he added. Earnhardt Jr.’s newest feedback come after he admitted he is by no means made money as a team proprietor. “I’ve never made any money racing. I’ve never known a Cup team that made money,” he stated final yr.

For the legendary No. 8, he is uneasy about tying up a massive portion of capital. “If I park that money in the charter, it’s not like a stock that I can turn around and sell,” Earnhardt Jr. defined. Hailing from NASCAR royalty, together with his dad, Dale Earnhardt Sr., a joint-championship report holder with seven, racing is about profitable.

Earnhardt Jr. would not need to buy a constitution to make future revenue. “We’ve always raced to win a race and compete, not thinking about it as a way to profit,” he acknowledged.

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As for Earnhardt Jr.’s Xfinity enterprise, he just lately had a trademark software for an additional No. 8 font contested by NFL famous person Lamar Jackson. Earnhardt Jr. cleared up the problem, defending Jackson. His transfer to trademark an various No. 8 font got here after efficiently choosing up his legendary No. 8 Budweiser quantity.

“Well, I learned on social media about the same time as everybody else did that Lamar was contesting our trademark application,” Earnhardt Jr. said on his latest podcast episode. “He wasn’t suing me. He’s just contesting it. And there’s a part of the trademark process where if you believe somebody’s applying for a trademark and it’s going to hurt your brand, you can oppose it, right?

“And say, ‘Hey, I need this. I need y’all to look at this first.’ And what happens is our application for our trademark would stop and the board would check out what Lamar’s concerned about and agree or disagree. And then the process would then pick up and continue.

“Well, when I learned about it, I thought for sure it was over the Bud No. 8. But when I dug into it, I learned that it was that JR Motorsports font and we weren’t ever gonna use that again. Ever. And so after some conversations with Kelley and our team, they’re like, yeah, we’re gonna abandon that.

“And, so yeah, it’s not an issue. It’s a non-issue. The next day actually we filed the paperwork to abandon the acquisition of that trademark for the JR Motorsports No. 8. We got what we wanted and we’re down the road. I was not gonna argue with Lamar over something that I didn’t plan on using and I wasn’t gonna spend thousands of dollars with my lawyers to fight for something that I didn’t need.”