Bob Jenkins testified on December 4, 2025 that he has lost $100 million since becoming a NASCAR team owner in the early 2000s, even with Michael McDowell winning the 2021 Daytona 500 for Front Row Motorsports. The fast food franchiser fulfilled his childhood dream of owning a Cup Series team, but two decades of losses pushed him to join 23XI Racing’s antitrust lawsuit against NASCAR.
Take It or Leave It Negotiations Offended Bob Jenkins
Jenkins received two charters for free when NASCAR created the system in 2016 and thought the agreements were terrible but represented a step forward. When NASCAR presented its final charter extension offer in 2024, Jenkins became offended by what he called a “take it or leave it” approach.
He testified feeling “honestly very hurt” by how NASCAR handled negotiations, believing the sanctioning body “knew we had to blindly sign it” because other owners had invested $500 to $600 million in facilities and locked in long term sponsors. Joe Gibbs personally apologized to Jenkins after signing the deal. Jenkins told the court “not a single owner said ‘I was happy to sign it.’ Not a single one.”
The Math Doesn’t Work According to Bob Jenkins
Both Jenkins and Denny Hamlin testified it costs $20 million to bring a single car to all 38 races, and that figure excludes overhead, operating costs, and driver salaries. NASCAR’s new charter agreement guarantees $12.5 million per car annually, up from $9 million, but Jenkins argues the revenue model remains unsustainable.
Jenkins clarified during testimony that he supports the charter system concept but opposes how NASCAR structured the actual agreements. He stated, “100% of the owners think the charter system is good. The charter agreement is not.” Front Row and 23XI became the only two organizations out of 15 that refused to sign, choosing federal court over accepting terms they considered fundamentally unfair.