How much do we know about NASCAR’s finances? Until yesterday, not much. Since going private in 2019, NASCAR has not released its financial statements to the public. However, the organization has now made its 2025 financial statement a public record as the charter dispute with 23XI Racing and Front Row Motorsports continues.
This sudden release has raised more questions than answers, especially after a veteran NASCAR insider responded to the numbers, revealing a reported revenue drop of $400 million within a single year.
What Do the New Financial Documents Reveal About NASCAR?
The NASCAR Charter Agreement, which dropped on Wednesday, is as thrilling as you would expect for 108 pages of dense legal jargon. It is safe to say the document, which could send even the most dedicated lawyer to sleep, will not be featured on many bedtime reading lists.
Despite the dry material, the legal documents do contain some interesting findings. They show NASCAR earned $103 million in 2024, a staggering $434 million drop from the $537 million it earned the previous year.
Fox Sports reporter Bob Pockrass shared the financial statement on his X profile, where sharp-eyed fans quickly spotted the massive gap in the revenue figures. Many took to the comments to ask what was behind the discrepancy.
“How could NASCAR show comprehensive income of $537M in 2023 and $103M in 2024 … in 2023, it sold much of the land of California Speedway for $543M so that minus some closing costs would have had a big impact,” Pockrass responded.
In 2023, NASCAR sold most of the Auto Club Speedway property in Fontana, California. According to Sports Business Journal, 433 acres of the 522-acre site had already changed hands by February 2023. This move came amid rumors that NASCAR intended to convert the two-mile track into a half-mile oval.
Now, warehouses and commercial buildings stand on that land. As a result, NASCAR has temporarily shelved its plans to build a short track on the rest of the former Auto Club Speedway grounds.
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NASCAR last raced at the site in February 2023. Since then, developers have razed most of the facility for the Next Gen California project, which called for a half-mile short track. Several suites, some grandstands, and pit road remain standing.
However, NASCAR insists plans for a short track are still on the table. “That market … is an important market for us,” NASCAR Commissioner Steve Phelps said. “What the future of that particular facility is, I’m still unsure. Would I like to build a new facility at Fontana? I would. It would be a short track because we don’t have room for anything else, frankly.”
With the changes in Fontana, Sonoma Raceway is NASCAR’s only remaining California venue. Additionally, The Clash, which was held at the L.A. Memorial Coliseum from 2022 to 2024, relocated to Bowman Gray Stadium this year.
Fontana was a staple on the NASCAR calendar from 1997 to 2023, hosting all three national series. The Craftsman Truck Series, however, stopped racing there after the 2009 season.
