The richest NASCAR teams, quite simply put, have the best chance to win the Cup series as they have more money to spend on their car through parts, development and testing, not to mention being able to afford to spend millions each year on the richest drivers. Although worth does not always equal success, it does certainly help, although one could argue that success creates a richer team by added revenue from advertising and licensing.
The richest NASCAR teams put together a unique combination of success on the track and savvy business manoeuvres to score the ultimate combination and to make them so valuable, however in recent years the value of each team has not risen as much as teams in sports such as the NFL and NBA. Compared to the pinnacle of NASCAR some dozen years ago, many teams have seen their valuations drop, such as the top eight teams are now valued at 11% less than their peak.
Still, that’s not to say that the richest NASCAR teams are not still doing okay for themselves in the grand scheme of things. The below table shows the top ten richest NASCAR teams from 2019 data:
| Rank | Driver | Value | Revenue | Operating Income |
|---|---|---|---|---|
| 1st | Hendrick Motorsport | $315 million | $172 million | $7 million |
| 2nd | Joe Gibbs Racing | $230 million | $135 million | $5 million |
| 3rd | Stewart-Haas Racing | $165 million | $103 million | -$1 million |
| 4th | Richard Childress Racing | $160 million | $130 million | $6 million |
| 5th | Team Penske | $152 million | $52 million | $3 million |
| 6th | Roush Fenway | $75 million | $52 million | $3 million |
| 7th | Chip Ganassi Racing | $63 million | $45 million | $2 million |
| 8th | Front Row Motorsport | $30 million | $25 million | -$1 million |
| 9th | Richard Petty Motorsport | $28 million | $20 million | $3 million |
Nobody should be surprised to see Hendrick Motorsport as the richest NASCAR team due to their 16 Championship titles (12 Cup Series) and 310 total race victories. When you factor in that Jimmie Johnson, the richest active NASCAR driver, is on their payroll, then you see how driver success can help a team become richer. Hendrick Motorsport employ roughly 500 staff at their 100+ acre site in North Carolina and supply engines and mechanic services in addition to just racing in NASCAR.
Despite having more total race victories (351), Joe Gibbs Racing finds themselves valued just shy of $100m less than that of Hendrick Motorsport. A more recent run of success for Joe Gibbs Racing may still be waiting to be fully beneficial to the Huntersville based outfit as two of their five titles have come since 2015. As the reigning Cup Series champions from 2019 though its not surprise to see them as the second richest team in NASCAR.
Stewart-Haas Racing, Richard Childress Racing and Team Penske all round out the top five for teams valued in excess of $100m, but after that there is quite the drop off. It costs between $20-30million to run a top car in NASCAR and with dwindling licensing income and struggling to gain sponsorship means that some teams just can’t afford this and puts them severely on the back foot. Without some big time investment its impossible to see how the richest NASCAR teams is going to change over the coming years.