Business of Sport Jimmie Johnson, 7x NASCAR Champion: 'Has the Rise of F1 Been Good For NASCAR?' (Ep63)
Today we welcome 7-time NASCAR Champion Jimmie Johnson, a racing legend. Motorsport has never been bigger. The Liberty Media world of F1 has exploded, MotoGP has sold for over $4bn, but what about NASCAR? The US's second most watched sport is an entertainment and commercial giant, yet outside of America, it’s fair to say exposure is limited.
Jimmie Johnson is one of the most successful drivers to grace any track; think Lewis Hamilton or Michael Schumacher. He is the joint record holder for most Championships won, dominating the sport in the noughties winning 5 titles in a row. Now, he’s changed the race seat for team ownership with Legacy Motor Club. From billion dollar media rights deals to cars described as revolving billboards, when we get into it, the business of this sport is ridiculous! We’re delighted to welcome Jimmie to the show.
On today's show we discuss:
The Business of NASCAR:
- Where does NASCAR sit in the US sporting ecosystem?
- What does it cost to buy a team, or ‘Charter’, and how many cars do you enter into a race when you have secured your spot?
- The $8bn media deal is a major financer of the sport, but what does the distribution model look like?
- How much do the top drivers get paid and how has the sport changed as regulation restricts the money spent on cars?
- Why the demand for Charters is on the rise and the shift in investor profile.
- Does NASCAR need to go global to reach its full potential?
The Rise of Jimmie Johnson:
- From humble beginnings to the joint most Championships in NASCAR history, what did the path to the top look like?
- Racing in the 2000s was very different to racing in the present day; how did the salaries and stardom compare?
- Private planes and international fame…NASCAR drivers lived a great life, but what did the sacrifices to achieve the ultimate success look like?
- It’s hard to keep the fire burning; what did Jimmie do to ensure he kept focused and hungry?
- How is Jimmie adding value to Legacy Motor Club as a co-owner that leverages his storied career as a driver?
The Future of NASCAR:
- What does the sport need to do to reach its full potential? Should it go to the F1 playbook?
- Does the business model allow for the sport to grow? Should there be a better distribution model and decentralised control to develop the commercial end?
- With a couple of teams pushing back against the latest regulation, is the sport heading for a political dogfight?
- What does Jimmie want to achieve as an owner?
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