StarCom Racing confirms it will sell its charter, shut down at end of 2021 NASCAR season
Single-car team set to drop out of Cup Series, charter to take "new ownership"
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1 min read
The end of a NASCAR season always means the end of year-long partnerships between drivers, race teams and their crews alike. And in some cases, the end of a season means the end of the road altogether, as looks to be the case with StarCom Racing.
On Friday, StarCom Racing confirmed the sale of its NASCAR Cup Series charter, stating that it would take "new ownership" following this weekend's season finale at Phoenix Raceway. StarCom's announcement confirms rumors on the team's future that have persisted over the past several months.
A report by Chris Knight of Catchfence.com in late August stated that StarCom had sold its charter to Spire Motorsports.
It is with a heavy heart that we say goodbye to our StarCom Racing fans. After the championship this weekend, our #00 charter will take new ownership. Thank you so much to all our fans for the fun memories and loyal support over the years! #z00m pic.twitter.com/VPVmegCuDQ
— StarCom Racing (@StarcomRacing) November 5, 2021
StarCom Racing entered the Cup Series in 2017, fielding the No. 00 Chevrolet owned by StarCom Fiber as well as 1990 Daytona 500 Champion Derrike Cope. After making its debut late that season, StarCom made the move to full-time Cup racing in 2018, with Landon Cassill running most of 2018 and all of 2019 before Quin Houff drove full-time in 2020 and 2021.
Cassill scored the best finish in team history with an 11th place run at Daytona in July 2019.
The sale of StarCom's charter is the latest development in the movement of NASCAR's charter market, which has put teams in a game of musical chairs for main asset in NASCAR's version of franchising. Among those teams currently in the market is 23XI Racing, who is seeking a charter for the new No. 45 Toyota to be driven by Kurt Busch next season. GMS Racing, which is entering the Cup Series with driver Ty Dillon, is also looking for a charter.
According to a report by Adam Stern of Sports Business Journal, the value of NASCAR charters has doubled since last year, as the next charters to be sold are expected to go at $12 million. Charter purchases already ahead of the 2022 season include Kaulig Racing's purchase of two Spire Motorsports charters as well as the acquisition of all of Chip Ganassi Racing's NASCAR assets, including charters, by Trackhouse Racing.
