Getty Images

Forbes’ annual NASCAR report: Team values dip slightly, but sport is still strong overall

2 Comments

The value of NASCAR teams dipped slightly in the last year, but the sport is still strong overall — and has increased promise and growth going forward with things such as young drivers and social media/video engagement.

Also, last season’s top-12 highest-paid NASCAR Cup drivers earned a collective $155 million between them.

Those are among the conclusions from Forbes magazine in its annual analysis of NASCAR team values and driver salaries, released Thursday.

“The top eight NASCAR teams are now worth an average $158 million, down 2 percent from last year,” Forbes reports.

Hendrick Motorsports remains the most valuable organization in the sport, leading the way in both team value ($325 million) and 2016 Revenue (the most recent results available) of $180 million.

Joe Gibbs Racing is second ($220 million team value, $131 million in 2016 revenue), followed by Stewart-Haas Racing ($175 team value, $109 million in 2016 revenue).

Among Forbes’ other observations:

* There is concern that several sponsors have left the sport in the last two years, including Target, Subway, Cheerios, Coors Light and Dollar General. Also, some of NASCAR’s biggest current sponsors are reducing their racing budgets. Forbes cites as an example Miller Lite, which has sponsored Team Penske for nearly 30 years, but will see its sponsorship slip from 24 races to just 11 races per season in its new contract extension with the team.

* On a more positive note, the story talks about the increasing impact of young drivers in the sport, particularly in light of major stars retiring over the last two years including Jeff Gordon, Tony Stewart and Dale Earnhardt Jr.

* Another good sign: “Digital fan engagement numbers are up as well. Last season social engagements increased 12 percent year-over-year, while video views saw a 44 percent increase. Stage racing was strongly supported, with around four out of five NASCAR fans preferring it to the prior format.”

Here’s Forbes’ list of NASCAR teams with the most value and their 2016 Revenue:

  1. Hendrick Motorsports, Team value: $325 million, 2016 Revenue: $180 million
  2. Joe Gibbs Racing, Team value: $220 million, 2016 revenue: $131 million
  3. Stewart-Haas Racing, Team value: $175 million, 2016 Revenue: $109 million
  4. Richard Childress Racing, Team value: $170 million, 2016 Revenue: $145 million
  5. Team Penske, Team value: $142 million; 2016 Revenue: $63 million
  6. Roush Fenway Racing, Team value: $140 million, 2016 Revenue: $97 million
  7. Chip Ganassi Racing, Team value: $68 million, 2016 Revenue: $49 million
  8. Front Row Motorsports, Team value: $21 million, 2016 Revenue: $19 million

Also, Forbes lists NASCAR’s 12 highest-paid drivers from 2017:

  1. Dale Earnhardt Jr., 2017 Total earnings $22 million, 2017 Salary/winnings $14 million
  2. Jimmie Johnson, 2017 Total earnings $19.2 million, 2017 Salary/winnings $14.2 million
  3. Kyle Busch, 2017 Total earnings $14.7 million, 2017 Salary/winnings $13.1 million
  4. Denny Hamlin, 2017 Total earnings $14.6 million, 2017 Salary/winnings $12.9 million
  5. Kevin Harvick, 2017 Total earnings $13.8 million, 2017 Salary/winnings $11.6 million
  6. Brad Keselowski, 2017 Total earnings $11.2 million, 2017 Salary/winnings $9.8 million
  7. Kasey Kahne, 2017 Total earnings $11.2 million, 2017 Salary/winnings $9.8 million
  8. Danica Patrick, 2017 Total earnings $10.3 million, 2017 Salary/winnings $5.8 million
  9. Joey Logano, 2017 Total earnings $10.2 million, 2017 Salary/winnings $8.6 million
  10. Kyle Larson, 2017 Total earnings $10.1 million, 2017 Salary/winnings $9 million
  11. Martin Truex Jr., 2017 Total earnings $9.9 million, 2017 Salary/winnings $8.9 million
  12. Matt Kenseth, 2017 Total earnings $9 million, 2017 Salary/winnings $7.9 million

Click here to read the full story.

Follow @JerryBonkowski

Forbes: NASCAR team values dip slightly, but some flourish

Getty Images
1 Comment

Forbes magazine has released its annual list of the value of the top-10 teams in NASCAR.

While the business magazine said team values dropped 7 percent from 2015 to 2016, the average team value is $137 million.

While some organizations such as Roush Fenway Racing and Richard Petty Motorsports have leased charters, other teams have expanded or strengthened their value with additional charters, including Furniture Row Racing and Front Row Motorsports, Forbes reported.

Here are the top 10 teams, their value and 2016 revenue:

  1. Hendrick Motorsports – team value $350 million, 2016 revenue $200 million.
  2. Joe Gibbs Racing – team value $225 million, 2016 revenue $135 million.
  3. Stewart-Haas Racing – team value $180 million, 2016 revenue $112 million.
  4. Richard Childress Racing – team value $170 million, 2016 revenue $141 million.
  5. Roush Fenway Racing – team value $150 million, 2016 revenue $102 million.
  6. Team Penske – team value $135 million, 2016 revenue $62 million.
  7. Chip Ganassi Racing –  team value $65 million, 2016 revenue $47 million.
  8. Richard Petty Motorsports – team value $48 million, 2016 revenue $43 million.
  9. Furniture Row Racing – team value $24 million, 2016 revenue $17 million.
  10. Front Row Motorsports – team value $22 million, 2016 revenue $20 million.

Follow @JerryBonkowski

Forbes: Hendrick Motorsports most valuable NASCAR team, Dale Earnhardt Jr. is highest earning driver

7 Comments

Forbes has released its annual report on the value of Sprint Cup teams and driver salaries. Not surprising, both categories involve Hendrick Motorsports.

HMS has increased in value to $350 million, according to the magazine, making it NASCAR’s most valuable organization.

It also is the highest-funded organization in the sport from a sponsorship perspective, earning nearly $120 million from corporate partners, part of an overall $180 million in revenue, also tops among all NASCAR teams/organizations.

The only major category where HMS was bested was race winnings: Stewart-Haas Racing took home $26 million in prize money in 2014 to $23 million for HMS.

Forbes reports that the second-most valuable team in overall worth is Joe Gibbs Racing at $201 million, an increase of 14 percent from the previous year.

Stewart-Haas Racing, which has won two of the past four Sprint Cup championships, including last year with Kevin Harvick, is third on the overall team worth list at $186 million, according to Forbes – up 26 percent from the previous year.

Dale Earnhardt Jr. was estimated as the highest-paid driver for the seventh consecutive year. According to Forbes, Earnhardt earned $23.8 million in 2014. Driver earnings are based upon salaries, endorsements/licensed merchandise sales and race winnings.

The top 12 Sprint Cup drivers earned a collective $187 million in 2014, which is down from $192 million in 2013.

Six-time Sprint Cup champion Jimmie Johnson was the second-highest earner ($22.5 million), followed by Hendrick teammate Jeff Gordon ($18.6 million), who is entering his final full-time season.

After Gordon on the earnings list are Harvick ($15.5 million), Denny Hamlin ($15.2 million), Tony Stewart ($14.4 million), Kyle Busch ($14.3 million), Danica Patrick ($13.8 million), Carl Edwards ($13.5 million), Kasey Kahne ($11.9 million), Brad Keselowski ($11.8 million) and Matt Kenseth ($11.6 million).

Follow @JerryBonkowski