Latest news with #Puchyr
Hamilton Spectator
16-07-2025
- Automotive
- Hamilton Spectator
Legacy Motor Club sues broker for alleged interference in NASCAR charter deal with Rick Ware Racing
CHARLOTTE, N.C. (AP) — Legacy Motor Club on Wednesday sued the broker who helped negotiate its purchase of a charter from Rick Ware Racing, accusing him of tortious interference for now trying to buy Ware's NASCAR team. Legacy alleged in its filing in North Carolina Superior Court that T.J. Puchyr, acting as a consultant for the Cup Series team owned by seven-time NASCAR champion Jimmie Johnson, violated the state Unfair and Deceptive Trade Practices Act by using 'insider knowledge and position of trust to interfere with Legacy's Agreement with RWR.' Legacy also accused Puchyr of making public personal attacks against Johnson when he announced last month his plans to purchase Ware's tiny race team. The dispute began not long after Legacy entered into agreement for Johnson and his partners at Knighthead Capital Management to purchase one of Ware's two charters. Legacy says the deal is for next season, when it plans to expand to three full-time Cup cars. RWR maintains the deal was for 2027 because it already is under contract with RFK Racing to lease that organization a charter next season. Ware says he didn't read the contract closely when he signed it to note that it read 2026, and that honoring the RFK contract and selling a second charter to Legacy next year would put the NASCAR team out of business. Legacy in April sued Ware, but as that fight is playing out, it claims Puchyr struck a deal to buy RWR. Puchyr is a co-founder of Spire Motorsports and now acts as a motorsports consultant. 'Mr. Puchyr was well aware of the parties' dispute. He knew of the charter purchase agreement between Legacy and RWR that he helped broker,' the suit contends. 'Despite Mr. Puchyr's insider knowledge of the contract, his obligations under his consulting agreement with Legacy, Legacy's contractual right to a charter ... Mr. Puchyr recently announced that he intends to purchase both of RWR's charters for himself.' The latest filing is part of two active lawsuits surrounding charters, which are at the heart of NASCAR's business model. Having one is vital to a team's survival. 23XI Racing and Front Row Motorsports are locked into a prolonged suit with NASCAR over antitrust allegations against the most popular motorsports series in the United States. 23XI, co-owned by retired NBA great Michael Jordan, and Front Row, owned by entrepreneur Bob Jenkins, last September refused to sign the charter agreements offered by NASCAR after more than two years of contentious negotiations on extensions. The two were the only holdouts out of 15 organizations to refuse the extensions. They instead sued and are awaiting a federal judge's decision on if they will be stripped of their six combined charters as the case heads toward a Dec. 1 trial date. NASCAR has said it has asked multiple times for settlement proposals but heard nothing. NASCAR also has no intention of renegotiating the charter agreements held by 30 other teams. Johnson, despite his own legal fight, said last weekend that he supported a settlement in the antitrust case. 'I would love to see a settlement of some kind,' Johnson said. 'I really don't think that getting into a knock-down, drag-out lawsuit is good for anybody.' ___ AP auto racing:
Fox Sports
16-07-2025
- Automotive
- Fox Sports
Legacy Motor Club sues broker for alleged interference in NASCAR charter deal with Rick Ware Racing
Associated Press CHARLOTTE, N.C. (AP) — Legacy Motor Club on Wednesday sued the broker who helped negotiate its purchase of a charter from Rick Ware Racing, accusing him of tortious interference for now trying to buy Ware's NASCAR team. Legacy alleged in its filing in North Carolina Superior Court that T.J. Puchyr, acting as a consultant for the Cup Series team owned by seven-time NASCAR champion Jimmie Johnson, violated the state Unfair and Deceptive Trade Practices Act by using 'insider knowledge and position of trust to interfere with Legacy's Agreement with RWR.' Legacy also accused Puchyr of making public personal attacks against Johnson when he announced last month his plans to purchase Ware's tiny race team. The dispute began not long after Legacy entered into agreement for Johnson and his partners at Knighthead Capital Management to purchase one of Ware's two charters. Legacy says the deal is for next season, when it plans to expand to three full-time Cup cars. RWR maintains the deal was for 2027 because it already is under contract with RFK Racing to lease that organization a charter next season. Ware says he didn't read the contract closely when he signed it to note that it read 2026, and that honoring the RFK contract and selling a second charter to Legacy next year would put the NASCAR team out of business. Legacy in April sued Ware, but as that fight is playing out, it claims Puchyr struck a deal to buy RWR. Puchyr is a co-founder of Spire Motorsports and now acts as a motorsports consultant. 'Mr. Puchyr was well aware of the parties' dispute. He knew of the charter purchase agreement between Legacy and RWR that he helped broker,' the suit contends. 'Despite Mr. Puchyr's insider knowledge of the contract, his obligations under his consulting agreement with Legacy, Legacy's contractual right to a charter ... Mr. Puchyr recently announced that he intends to purchase both of RWR's charters for himself.' The latest filing is part of two active lawsuits surrounding charters, which are at the heart of NASCAR's business model. Having one is vital to a team's survival. 23XI Racing and Front Row Motorsports are locked into a prolonged suit with NASCAR over antitrust allegations against the most popular motorsports series in the United States. 23XI, co-owned by retired NBA great Michael Jordan, and Front Row, owned by entrepreneur Bob Jenkins, last September refused to sign the charter agreements offered by NASCAR after more than two years of contentious negotiations on extensions. The two were the only holdouts out of 15 organizations to refuse the extensions. They instead sued and are awaiting a federal judge's decision on if they will be stripped of their six combined charters as the case heads toward a Dec. 1 trial date. NASCAR has said it has asked multiple times for settlement proposals but heard nothing. NASCAR also has no intention of renegotiating the charter agreements held by 30 other teams. Johnson, despite his own legal fight, said last weekend that he supported a settlement in the antitrust case. 'I would love to see a settlement of some kind," Johnson said. "I really don't think that getting into a knock-down, drag-out lawsuit is good for anybody.' ___ AP auto racing: recommended Item 1 of 1 in this topic
Winnipeg Free Press
16-07-2025
- Automotive
- Winnipeg Free Press
Legacy Motor Club sues broker for alleged interference in NASCAR charter deal with Rick Ware Racing
CHARLOTTE, N.C. (AP) — Legacy Motor Club on Wednesday sued the broker who helped negotiate its purchase of a charter from Rick Ware Racing, accusing him of tortious interference for now trying to buy Ware's NASCAR team. Legacy alleged in its filing in North Carolina Superior Court that T.J. Puchyr, acting as a consultant for the Cup Series team owned by seven-time NASCAR champion Jimmie Johnson, violated the state Unfair and Deceptive Trade Practices Act by using 'insider knowledge and position of trust to interfere with Legacy's Agreement with RWR.' Legacy also accused Puchyr of making public personal attacks against Johnson when he announced last month his plans to purchase Ware's tiny race team. The dispute began not long after Legacy entered into agreement for Johnson and his partners at Knighthead Capital Management to purchase one of Ware's two charters. Legacy says the deal is for next season, when it plans to expand to three full-time Cup cars. RWR maintains the deal was for 2027 because it already is under contract with RFK Racing to lease that organization a charter next season. Ware says he didn't read the contract closely when he signed it to note that it read 2026, and that honoring the RFK contract and selling a second charter to Legacy next year would put the NASCAR team out of business. Legacy in April sued Ware, but as that fight is playing out, it claims Puchyr struck a deal to buy RWR. Puchyr is a co-founder of Spire Motorsports and now acts as a motorsports consultant. 'Mr. Puchyr was well aware of the parties' dispute. He knew of the charter purchase agreement between Legacy and RWR that he helped broker,' the suit contends. 'Despite Mr. Puchyr's insider knowledge of the contract, his obligations under his consulting agreement with Legacy, Legacy's contractual right to a charter … Mr. Puchyr recently announced that he intends to purchase both of RWR's charters for himself.' The latest filing is part of two active lawsuits surrounding charters, which are at the heart of NASCAR's business model. Having one is vital to a team's survival. 23XI Racing and Front Row Motorsports are locked into a prolonged suit with NASCAR over antitrust allegations against the most popular motorsports series in the United States. 23XI, co-owned by retired NBA great Michael Jordan, and Front Row, owned by entrepreneur Bob Jenkins, last September refused to sign the charter agreements offered by NASCAR after more than two years of contentious negotiations on extensions. The two were the only holdouts out of 15 organizations to refuse the extensions. They instead sued and are awaiting a federal judge's decision on if they will be stripped of their six combined charters as the case heads toward a Dec. 1 trial date. Thursdays Keep up to date on sports with Mike McIntyre's weekly newsletter. NASCAR has said it has asked multiple times for settlement proposals but heard nothing. NASCAR also has no intention of renegotiating the charter agreements held by 30 other teams. Johnson, despite his own legal fight, said last weekend that he supported a settlement in the antitrust case. 'I would love to see a settlement of some kind,' Johnson said. 'I really don't think that getting into a knock-down, drag-out lawsuit is good for anybody.' ___ AP auto racing:
NBC Sports
26-06-2025
- Automotive
- NBC Sports
Report: Former Cup team owner enters agreement to buy Rick Ware Racing
T.J. Puchyr, a former owner of Spire Motorsports, has entered an agreement to purchase Rick Ware Racing, according to a report Thursday by The Associated Press. No price was reported on the deal for the NASCAR Cup team. The Associated Press reported that Purchyr will keep Ware as a partner and that Ware's son, Cody, will continue to drive the No. 51 car in the Cup Series. The report also stated that all Rick Ware Racing employees will be retained. Puchyr and Jeff Dickerson became car owners when they purchased the charter from Furniture Row Racing for $6 million after the 2018 season. They formed Spire Motorsports, which won the July Cup race with Justin Haley in July 2019. Puchyr sold his shares of Spire last year to Dan Towriss, CEO of TWG Motorsports, The Associated Press reported. The AP reported that Puchyr believes the charters are undervalued. He was involved in Spire's purchase of Live Fast Motorsports' charter for $40 million in 2023. 'I am bullish on wanting to build a three-car team. I believe in the France family and the direction of the sport, and I want the rest of the shareholders and industry to know that I believe the charters are worth $75 million or more,' he told The Associated Press. Nate Ryan, Rick Ware Racing has two charters — one for the No. 51 car with Cody Ware and a second that is being leased to RFK Racing this year for the No. 60 car of Ryan Preece. Charters can only be leased once every seven years. Rick Ware Racing has a two-year deal with RFK Racing to lease both of its charters for one year each. Legacy Motor Club is suing Rick Ware Racing over a NASCAR charter purchase deal. Legacy Motor Club, which is owned by seven-time Cup champion Jimmie Johnson, alleges that Rick Ware Racing is backing out of its agreement to sell a charter to the team. Rick Ware Racing has filed a countersuit, claiming any agreement was for the 2027 season and not the 2026 season as Legacy Motor Club contends. Dustin Long, 'If anybody deserves a pass it is Jimmie and if he wants to sit down and talk about it like men, I'd entertain the conversation,' Puchyr told The Associated Press. 'I don't think Jimmie has all the facts, doesn't understand the deal we had, and they tried to humiliate Rick publicly. We don't do business that way.' Rick Ware Racing's No. 51 car ranks last in owner points among the 36 charter teams heading into Saturday night's race at EchoPark Speedway in Hampton, Georgia. Puchyr is confident he can help improve the organization's performance. 'I've won at everything I've done at every level and I think we can compete with these guys,' Puchyr told The Associated Press. 'I think we can build it brick-by-brick and it's going to take people, money and time. It's not lost on me that (RWR) is the 36th-place car in the garage, we all see it. But I believe we can make this a competitive organization, even a winner.'
San Francisco Chronicle
26-06-2025
- Automotive
- San Francisco Chronicle
T.J. Puchyr agrees to buy Rick Ware Racing with plans to build a 3-car NASCAR team
CHARLOTTE, N.C. (AP) — One of the founders of Spire Motorsports has entered an agreement to purchase the NASCAR team owned by Rick Ware and is jumping back into the stock car series because he believes the current charters are grossly undervalued. T.J. Puchyr, who in 2018 alongside Jeff Dickerson launched the Spire team to take over the charter that Furniture Row Racing could not unload, told The Associated Press on Thursday he and Rick Ware Racing have a deal for him to take over Ware's organization next season. When Puchyr and Dickerson bought the Furniture Row charter, the market for NASCAR's version of franchise models was essentially dead. Their agency had been hired by Furniture Row owner Barney Visser to sell the charter and when they couldn't find a buyer, the two decided to purchase it themselves for $6 million and launch their own team. That decision jump-started the charter market and the most recent charters sold — when Stewart-Haas Racing went out of business at the end of last season — went for approximately $30 million. Puchyr and Dickerson are largely credited with pumping life and value into an otherwise dormant charter system. Puchyr last year sold his shares of Spire to Dan Towriss, the CEO of TWG Motorsports and head of the new Cadillac F1 team. Puchyr has spent 2025 consulting with various teams, including RWR and Legacy Motor Club. He's watched the market closely and has attended several of the recent court hearings involving NASCAR against 23XI Racing and Front Row Motorsports, who have filed an antitrust lawsuit over the charter agreement those two teams refused to sign last September. There are only 36 Cup Series charters, which guarantee a team entry into every NASCAR race and a steady revenue stream. Puchyr believes they are greatly undervalued and in one of his final deals with Spire, he helped acquire a charter from Live Fast Motorsports for $40 million. 'I am bullish on wanting to build a three-car team. I believe in the France family and the direction of the sport and I want the rest of the shareholders and industry to know that I believe the charters are worth $75 million or more,' he told AP. What about Ware's second charter? In his deal with Ware, Puchyr will keep Ware on board as a partner, also keep Ware's son, Cody, in the No. 51 Ford, and retain all of the current RWR employees. Ware's current second charter is leased to RFK Racing, but Legacy Motor Club made a legal claim that it had entered an agreement to buy that charter next season. A judge did not agree with Legacy, and said Ware has a lease deal with RFK for 2026 on a second charter. Puchyr believes none of the parties can perform to the Legacy-RWR contract — which he said was written by Legacy — and there is no charter available from Ware for Legacy for either lease or purchase in 2026. Ware has filed a countersuit against Legacy. Legacy, a two-car Cup team, is currently owned by seven-time NASCAR champion and Hall of Famer Jimmie Johnson. He has recently taken on partnership from private equity firm Knighthead Capital Management, which alongside Johnson is exploring expansion into several other motorsports series. 'If anybody deserves a pass it is Jimmie and if he wants to sit down and talk about it like men, I'd entertain the conversation,' said Puchyr, who was offended that Legacy sued Ware. 'I don't think Jimmie has all the facts, doesn't understand the deal we had, and they tried to humiliate Rick publicly. We don't do business that way.' Now, Puchyr and Ware are confident the second charter currently leased to RFK will be returned to their team in 2027, allowing Puchyr to expand the organization. He wants to buy a third charter that makes the organization a three-car Cup team by 2027. Can Puchyr build a winning team? Ware has done the second-most charter transactions in the industry only to Spire and at one point held four. Now he's trying to rebuild his organization and win races with his son as the driver, something Puchyr wants to help him achieve. 'I've won at everything I've done at every level and I think we can compete with these guys,' Puchyr said. 'I think we can build it brick-by-brick and it's going to take people, money and time. It's not lost on me that (RWR) is the 36th-place car in the garage, we all see it. But I believe we can make this a competitive organization, even a winner. 'And I believe we can get these charters valued at their true worth.' Ware fields winning organizations in other motorsports series, including NHRA with Clay Millican. A Ware-owned team won the 2024 American Flat Track championship, the 2022 FIM World Supercross Championship and the 2019-2020 Asian Le Mans Series prototype title. Puchyr did not reveal to the AP how much he's paying for Ware's organization, which technically only holds the charter for Cody Ware's car this season and runs Corey Lajoie in a second 'open' car in select races. Once it gets its leased charter back from RFK in 2027, the team will have at least two cars with the focus on purchasing a third. Purchasing charters is not easy at this time as multiple teams have interest but lack the monetary funds to buy them at the ever-increasing rates. Among them is Hall of Famer Dale Earnhardt Jr., who has not been able to get his hands on charters to take his Xfinity Series team to NASCAR's top Cup Series level.
