NASCAR is confronting a severe downturn in fan engagement and television ratings despite holding a historic $1.1 billion TV contract. Brad Keselowski, the 2012 Cup champion and RFK Racing owner-driver, recently identified the key issue threatening the sport’s future during his appearance on the Stacking Pennies podcast.
Brad Keselowski Identifies the Fundamental Flaw in NASCAR’s Track Business Model
In a candid discussion with podcast host Corey LaJoie, Brad Keselowski pinpointed the central challenge NASCAR faces as the struggling business model of race tracks. He emphasized that the tracks are overly dependent on broadcast revenue and have failed to diversify their income streams, creating a precarious financial situation. This dependency, combined with the tracks’ acceptance of this unstable model, poses a serious risk to the sport’s health.
“The number one problem with the sport right now is the model with the tracks — that’s the number one issue, hands down, in my opinion. The tracks aren’t able to generate enough revenue on their own; they’re wholly reliant on the TV money. And they’re comfortable with that, which is the scariest part of all.” Brad Keselowski said via Stacking Pennies podcast.
Keselowski explained that this problematic arrangement leads to broader complications within NASCAR’s ecosystem. For instance, tracks do not put enough effort into promoting race weekends, which contributes to poor ticket sales. This impacts the teams financially by reducing incentives tied to live events and attendance.
“This creates a subset of problems that flow down through the ecosystem, where we don’t promote enough to the fans at the track to sell tickets. We cascade into other issues for the teams, because they’re not necessarily incentivized. The costs are mostly covered before the day ever starts.” Brad Keselowski added.
This situation fosters an unstable environment where teams and tracks alike struggle, as the sport’s live fanbase shrinks and on-site revenues decline. The overreliance on TV money contributes to a fragile foundation, threatening NASCAR’s economic sustainability.
How NASCAR Teams Are Losing Their True Identity Due to Financial Pressures
Brad Keselowski further discussed the ripple effects of the broken track model on NASCAR teams, highlighting that limited revenue sources have forced teams to become excessively dependent on sponsorships. As a result, team decisions revolve primarily around sponsorship commitments, which compromises the authenticity and freedom of drivers and teams.
“That flows down into revenue problems for the teams, which makes them wholly reliant on sponsorship. This creates another subset of issues where the authenticity of the drivers and people in the sport is decreased, because they’re beholden to representing Fortune 500 companies, or else they don’t have a job.” Brad Keselowski said.
This reliance severely restricts drivers’ ability to express their personalities and connect with fans beyond the typical sponsor-driven image. The consequence is a lack of standout superstar drivers who can elevate NASCAR’s appeal both within and beyond the sport’s traditional fanbase.
Without the personality and individuality of drivers shining through, NASCAR risks losing what made it compelling to fans for decades: authentic characters with strong personal brands. Keselowski’s comments suggest that unless NASCAR addresses these fundamental business and promotional challenges, the sport’s decline will continue unabated.
The Broader Implications for NASCAR’s Future Viability
Keselowski’s analysis reveals that the issues with track revenue models and team sponsorship dependence are deeply intertwined and impact the entire NASCAR ecosystem. With tracks comfortable relying on broadcast money despite falling attendance and teams obligated to prioritize corporate interests over genuine racing culture, the sport faces a critical crossroads.
If these challenges remain unaddressed, NASCAR may struggle to rebuild its fanbase or create new stars capable of attracting wider audiences. The deterioration of race-day atmospheres and weakened team dynamics could accelerate the sport’s decline in popularity, further damaging its brand and financial health.
As NASCAR enters this uncertain period, stakeholders face pressure to rethink the economic frameworks governing tracks and teams. Innovative business strategies and enhanced fan engagement efforts will be crucial for revitalizing interest and ensuring a sustainable future for the series.
Clipped this from @keselowski 's appearance on Stacking Pennies because I thought it was interesting: He says the biggest problem with NASCAR currently is the business model with the tracks, which are wholly reliant on TV money because they can't generate enough revenue on their… pic.twitter.com/itQS1Xx848
— Steven Taranto (@STaranto92) September 25, 2025
