NASCAR’s annual free-agency bonanza known as “silly season” started even earlier than normal. At the beginning of May, JTG Daugherty Racing announced Ricky Stenhouse Jr. had inked a multi-year contract extension, keeping the former Daytona 500 winner with the team with which he rejuvenated his career.
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Just days after Stenhouse’s deal became public, the driver market received another jolt when Spire Motorsports pulled off a surprise and signed Michael McDowell away from Front Row Motorsports with a multi-year contract.
More notable moves are surely coming in the weeks and months ahead, with several teams seeking to expand, at least one team considering discontinuing operations, one team seemingly restructuring, and a charter agreement between NASCAR and its teams that still needs to be agreed upon.
Consider this your guide to what we know, based on conversations with a dozen sources within the NASCAR industry.
Stewart-Haas Racing
It’s an open secret within the garage that Stewart-Haas Racing co-owners Tony Stewart and Gene Haas are contemplating selling the four charters they own. SHR is also having talks about selling or leasing all or part of its headquarters in Kannapolis, N.C., where it currently has two buildings.
Front Row Motorsports has emerged as the leading candidate to purchase one of SHR’s charters, multiple sources within the teams told The Athletic. While not mentioning SHR specifically, FRM general manager Jerry Freeze said the Bob Jenkins-owned outfit is exploring the idea of adding a team.
“I think we’re always looking to expand, to be honest with you, and I think this year there’s a lot of chatter about that,” Freeze said. “Bob has this desire to be three cars; we were at one time, and I think he had a lot of regret that we sold the one charter we had.”
Any deal between FRM and SHR is likely to include FRM relocating to one of the two buildings on SHR’s campus. FRM’s current shop is inadequately sized to house what would be three full-time Cup teams and a full-time Truck Series team.
“The truth is, we’re kind of space-challenged where we’re at with what we’re doing today,” Freeze said. “We could make it work with three Cup teams out of our shop, but we’d have to find a new home for the Truck team. So I think for us to expand, we’ve got to look at building options.”
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If FRM acquires one SHR charter, what would then happen to SHR’s three others? Does it further downsize or completely close its doors? SHR’s deal with Ford is up at the end of the season, so a manufacturer deal is needed if the team is to continue past 2024. This is the time of year when such partnerships are solidified; that SHR has no deal for 2025 indicates that its days as a Cup team may be numbered.
According to team sources, the likelihood is that SHR divests itself of all four charters. And the market is filled with prospective buyers. In addition to FRM, the teams known to be charter shopping (to varying degrees) are Trackhouse Racing, 23XI Racing, Legacy Motor Club and Richard Childress Racing.
All the uncertainty regarding SHR’s future has prompted many of its personnel to publicly or privately acknowledge they are wondering about their futures. The team has indicated to employees it hopes to make its decision known by the end of the month.
SHR’s driver lineup consists of Josh Berry, Chase Briscoe, Noah Gragson and Ryan Preece. Berry has a year remaining on his contract, Briscoe has an option the team holds, while Preece is a pending free agent. When Gragson signed with SHR over the offseason, his deal was announced as “multi-year,” but he indicated this past weekend his return is not assured.
“The main focus is running good and hopefully the opportunity presents itself,” Gragson said. “I definitely think there’s a lot of stuff up in the air right now on what the future looks like over here (at SHR) and a lot of question marks.”
Briscoe would be in demand if he hits the market. One team executive said the 29-year-old is the kind of talent “you find a way to sign even if you don’t have a spot.” The executive pointed to the fact that Briscoe, in his fourth season, is excelling even amid all the unknowns surrounding SHR by outperforming several drivers with bigger teams in more stable situations. He currently sits in the final playoff position at the halfway point of the regular season.
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Briscoe has long ties to Ford, something he said he’d take into consideration should he have to find a new team. And Ford certainly would prefer to keep Briscoe in its camp.
One frequently mentioned possibility is Briscoe signing with Wood Brothers Racing, a Ford-backed team that may be seeking a new driver (see below). The pairing makes a lot of sense for both parties, but at this time, it’s far from happening.
Both Berry and Gragson should also have options as they’ve had strong seasons and each has sponsorship.
Cole Custer and Riley Herbst are two other candidates for a ride with an expanded FRM team, according to industry sources.
Trackhouse Racing
Team owner Justin Marks has ambitious plans for Trackhouse, including expanding beyond being a two-car operation. And Trackhouse will need to expand if it’s to accommodate all the Cup-ready drivers it has under contract.
Currently, Ross Chastain and Daniel Suárez drive for Trackhouse directly, while Cup rookie Zane Smith has been loaned to Spire, and Shane van Gisbergen is developing in the Xfinity Series with Kaulig Racing. For next year, it’s already been announced that Smith won’t return to Spire, with van Gisbergen suggesting he’ll be jumping up to Cup full-time.
How does Trackhouse handle this logjam?
Chastain is under a multi-year contract and producing quality results; he’s not going anywhere. Neither, likely, is Suárez, who is finalizing an extension, according to sources briefed on the matter.
“We’re working on it,” Suárez said. “Everything is looking good. I don’t think there is much I can mention right now, but it’s moving in the right direction.”
This leaves finding spots for Smith and van Gisbergen. Trackhouse, though, may not be permitted to own four charters. Under the proposed terms of the charter agreement teams are negotiating with NASCAR, there is a provision included that would limit teams to owning three charters, according to team sources briefed on the matter. (Joe Gibbs Racing and Hendrick Motorsports would be grandfathered in.)
This means that even if Trackhouse buys a third charter as expected, it would still be one team short, and one of Smith and van Gisbergen must be slotted elsewhere. Does van Gisbergen spend another year in Xfinity? Does he get moved up to Kaulig’s Cup program? Or is Smith shifted over there?
Austin Dillon
There was some thought that Austin Dillon may step away from full-time racing. Such a move would then allow Richard Childress Racing to pursue Gragson, who has a long association with some of RCR’s sponsors and has been on their radar.
But while Gragson could still end up at RCR should it acquire a third charter, he won’t be replacing Dillon, the grandson of team owner Richard Childress. That possibility is off the table after Dillon recently signed a multi-year contract extension to continue driving the No. 3 car, according to sources briefed on the matter.
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Martin Truex Jr.
For the past few summers, Martin Truex Jr. has debated whether to retire. This year is much the same for the 2017 Cup champion.
Truex usually says little, preferring not to tip his hand. Similar to previous years, two big factors in his decision are: Is he enjoying himself, and is he running competitively?
Truex, 43, says he’s largely happy in this his 19th season, though like many veterans his patience has been tested by the Next Gen car. And that he’s sitting second in points with the second-best average finish shows he’s still competitive — even if he hasn’t won since last July.
“The team is doing a good job and we’ve been fast,” Truex said. “So hopefully I get to break through and get that first (win) here quickly.”
Team sources they expect Truex to return, but if he elects to retire, Joe Gibbs Racing has two in-house candidates that will likely get consideration as replacements: Aric Almirola and Chandler Smith, both of whom are part of JGR’s Xfinity Series operation.
If JGR prefers a veteran who’s won at the Cup level, has playoff experience and could step in with a chance to keep the No. 19 team competitive, then Almirola fits this criteria. If JGR is OK with a young talent who lacks experience but has lots of upside, Smith checks this box.
Corey Heim, Toyota’s top prospect who served admirably for the injured Erik Jones at Legacy Motor Club in a two-race stint this spring, is another name to watch.
Bubba Wallace
When Bubba Wallace said last summer that 2024 was a contract year for him at 23XI Racing, most thought he and 23XI would come to terms on an extension. As expected, all indications point to Wallace returning to the team co-owned by Denny Hamlin and Michael Jordan for a fifth year.
“We’re close. We’re very close,” Hamlin told The Athletic.
Todd Gilliland
In his third season, Todd Gilliland continues to demonstrate he belongs in Cup. Though he has just a single top-10 finish, he’s also had strong runs that haven’t translated to good finishes, often due to factors beyond his control.
No surprise then that FRM is keen on bringing Gilliland, 24, back for a fourth season. Both camps acknowledge that they’re working towards an extension.
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“We’re definitely trying to work towards that,” Gilliland told The Athletic. “I’d say that’s probably the extent I can say, but, yeah, that’s definitely what we’re working towards.”
Keeping Gilliland would be big for FRM, who is losing the veteran McDowell next year. FRM is counting on Gilliland to step in and help fill the leadership void caused by McDowell’s departure. And FRM must still sign a replacement for McDowell, and possibly a third team should it acquire a charter.
“I feel good about where we’re at with Todd and the future with Todd,” Freeze said. “We’re really, really, really happy with the progression he’s made this year. His speed on the racetrack is much improved and we’re really happy with the job he’s doing.”
Justin Haley
Part of Justin Haley’s motivation in joining Rick Ware Racing this season was to demonstrate that he is capable of elevating a team’s performance. This could then position the 25-year-old for a ride with a bigger team.
Haley’s talent has certainly been on display in 2024. His ninth-place finish at Darlington represented the first top 10 for RWR on a non-superspeedway, and he also has three other finishes inside the top 20. That’s impressive stuff for a driver whose No. 51 team has only two cars at its disposal compared to seven at most other places.
Although Haley is under contract to RWR for 2025, should the opportunity arise with a bigger organization it might be hard for him to say no. And with his name having been bandied about as an option within a few teams, the possibility may come to fruition.
“I like what Rick’s doing, and they’ve been great to me and everything, but obviously, there’s a lot of opportunities on the board right now,” Haley said. “So you have to have those discussions to just be in the game.”
Harrison Burton
Whether Harrison Burton will return to Wood Brothers Racing is an open question once again with his contract set to expire. The 23-year-old has had an uneven three years with the team.
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Working in Burton’s favor is that he does bring sponsorship from DEX Imaging, which has served as the team’s primary sponsor in four of 13 points races this season. If Burton exits, this funding void would need to be filled. And that Burton does bring funding with him means he likely will have opportunities elsewhere.
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(Top photo of Tony Stewart and Gene Haas, co-owners of Stewart-Haas Racing, in 2017: Jared C. Tilton / Getty Images)
