In Charlotte, North Carolina, a notable shift is occurring in the NASCAR world as T.J. Puchyr, co-founder of Spire Motorsports, has agreed to purchase the NASCAR team owned by Rick Ware. Puchyr aims to reinvigorate his involvement in the stock car series, driven by the belief that current NASCAR charters are significantly underappreciated. Puchyr, alongside Jeff Dickerson, originally launched the Spire team in 2018 when their agency took over a charter left by Furniture Row Racing. With no buyers for the charter, they opted to purchase it themselves for $6 million, sparking what would become a lucrative charter market.
The intervention by Puchyr and Dickerson breathed new life into an otherwise stagnant charter system when they took a bold step forward. The most recent charters, following Stewart-Haas Racing’s exit, fetched around $30 million, substantially enriching the market. Puchyr, having sold his shares of Spire to Dan Towriss — CEO of TWG Motorsports and leader of the new Cadillac F1 team — has spent 2025 consulting with various teams, including Rick Ware Racing (RWR) and Legacy Motor Club. He has strategically observed market trends and participated in court hearings relevant to NASCAR’s ongoing legal battles with 23XI Racing and Front Row Motorsports over charter agreements.
The exclusiveness of NASCAR’s 36 Cup Series charters creates a stable revenue stream and guaranteed entries into races. Puchyr maintains that these are undervalued and is enthusiastic about developing a three-car team, attributing a belief in the charters being worth over $75 million. His previous acquisition of a charter from Live Fast Motorsports for $40 million marks his confidence in the sport’s trajectory.
In his agreement with Rick Ware, Puchyr will retain Ware as a partner, keeping Cody Ware as the driver in the No. 51 Ford and preserving the current RWR staff. At present, Ware’s secondary charter is leased to RFK Racing, although a legal dispute with Legacy Motor Club emerged when Legacy claimed an agreement to purchase that charter. A judge ruled in favor of Ware’s existing lease arrangement with RFK for 2026. Puchyr has argued that the contract with Legacy, as drafted by them, cannot be executed, leaving no available charter for Legacy to either lease or purchase in 2026. Consequently, Ware countersued Legacy.
Legacy Motor Club, a two-car Cup team led by seven-time NASCAR champion Jimmie Johnson, recently aligned with Knighthead Capital Management, hinting at broader motorsports ambitions. Puchyr extended an olive branch to Johnson for a face-to-face dialogue, expressing discontent over Legacy’s legal tactics against Ware.
Puchyr and Ware anticipate that their second charter, presently under RFK’s lease, will revert to them by 2027, facilitating the expansion to a three-car Cup operation. Ware, a prominent figure in the charter exchange space, aims to rebuild with Puchyr’s aid, aspiring for competitive success with his son as the driver. The duo is determined to transform RWR from being the 36th place car into a competitive, championship-contending entity and to elevate the perceived value of NASCAR charters.
Ware’s track record includes victories in other motorsports, like NHRA and the 2024 American Flat Track championship, showcasing his potential for building successful racing teams. Though Puchyr withheld the financial details of acquiring Ware’s organization, it was noted that the team currently runs a single charter for Cody Ware’s vehicle, with aspirations to expand once their leased charter is recovered from RFK by 2027. The escalating prices for charters create barriers to entry for new teams, hindering even distinguished figures like Dale Earnhardt Jr. from securing charters to elevate his Xfinity Series team to the Cup Series.