“He’s probably losing $3-5 million a year”: NASCAR insider makes bold claims on FRM’s annual financial loss amid legal battle
Renowned journalist Bob Pockrass shared an estimate of how much money Front Row Motorsports owner Bob Jenkins has been losing while competing in NASCAR for over a decade. As per Pockrass, that’s also why FRM had chosen to fight for its rights amid the legal battle with NASCAR.
Ahead of the 2024 playoffs, NASCAR presented the teams with a new charter agreement, asking them to sign it before the postseason began. FRM and 23XI Racing were the only two teams who did not sign the deal. Instead, they filed an antitrust lawsuit against NASCAR claiming that the terms laid down in the agreement did not benefit them in any way and that NASCAR was exercising a monopoly in the sport.
Through the years, FRM has been getting sponsorships from several restaurants like Taco Bell and A&W, all of which are owned by Jenkins himself. As such, the North Carolina-based outfit needed to keep its dollars within the team and not lose them while backing itself.
“He (Bob Jenkins) owns hundreds of those restaurants,” Bob Pockrass told SiriusXM NASCAR Radio. “So I would estimate that he's probably losing three to five million dollars a year for over 10 years in this sport. I think he felt that they needed to have some better terms in the charter agreement.”
However, latest reports indicate that NASCAR has counter-sued FRM and 23XI Racing for violating antitrust laws in an attempt to sabotage the Charter system to fulfill financial goals. The lawsuit filed Wednesday stated,
"This is not the first time that 23XI and FRM have sought to impose their viewpoints, and those of their counsel, on the racing teams writ large. And it is truly ironic that in trying to blow-up the Charter system, 23XI and FRM have sought to weaponize the antitrust laws to achieve their goals.”
The trial date for the counterclaim is set for December 1, the same day the federal court will be addressing the ongoing antitrust lawsuit. Meanwhile, NASCAR is appealing the preliminary injunction granted to the teams which allows them to compete in the Cup Series as chartered teams.
Veteran crew chief claims that Front Row Motorsports has fallen victim in NASCAR lawsuit
Larry McReynolds, who once called races for legendary drivers like Dale Earnhardt, Davey Allison, and Jordan Anderson, shared his views on the situation Front Row Motorsports is currently in. He said that 23XI Racing had pursued FRM to join them in their battle against NASCAR in the first place and now, FRM has fallen victim to this situation.
McReynolds’ comments came during the latest episode of his “On Track” show on SiriusXM NASCAR Radio. He said,
“This is my opinion and my opinion only — I will go to my grave saying that Curtis Polk and 23XI knew they needed an ally to even remotely have a leg to stand on.”
"And I think they convinced Bob Jenkins and the group at Front Row, come be a part of this. We'll make this work. I feel like Bob Jenkins in Front Row honestly has fallen the victim of this whole deal,” he added.
However, FRM's decision is on them. It doesn’t matter why they came onboard or who convinced them to do the same; the battle isn’t ending anytime soon.