T.J. Puchyr Returns to NASCAR with the Purchase of Rick Ware’s Team
One of the founders of Spire Motorsports has reached an agreement to acquire the NASCAR team owned by Rick Ware, marking his return to the stock car series. Puchyr, who co-founded Spire in 2018, believes that the current charters are undervalued. T.J. Puchyr, in an interview, revealed that he has reached an agreement with Rick Ware Racing to take control of the organization next season. This decision underscores his confidence in the future of NASCAR and the value of the charters. In the past, Puchyr and Jeff Dickerson acquired the Furniture Row Racing charter for $6 million, revitalizing the charter market. Recently, charters have been sold for approximately $30 million, demonstrating the market’s growth. Puchyr sold his Spire shares to Dan Towriss and has been advising several teams, including RWR. He has closely followed the market and attended court hearings related to the antitrust lawsuit filed by 23XI Racing and Front Row Motorsports. With only 36 charters in the Cup Series, which guarantee entry to each race and a steady flow of income, Puchyr sees great potential. In one of his latest transactions with Spire, he helped acquire a charter from Live Fast Motorsports for $40 million.In the agreement with Ware, Puchyr will keep Ware as a partner, Cody Ware in the number 51 car, and all current RWR employees. Ware’s second charter is leased to RFK Racing, but Legacy Motor Club claimed an agreement to buy that charter. A judge disagreed with Legacy, and Ware has a lease agreement with RFK for 2026. Puchyr and Ware are confident that the second charter leased to RFK will return to their team in 2027, which will allow Puchyr to expand the organization. Their goal is to acquire a third charter to turn the organization into a three-car team by 2027. Ware has completed the second-highest number of charter transactions in the industry, and Puchyr seeks to help him rebuild his organization and win races with his son as a driver.I am excited 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 the industry to know that I believe the charters are worth $75 million or more.
T.J. Puchyr
Puchyr did not disclose the amount he is paying for the organization of Ware. Currently, the team has a charter for Cody Ware’s car and participates in selected races with a second “open” car. Once they recover their leased charter from RFK in 2027, the team will have at least two cars, with the focus on buying a third. Acquiring charters is a challenge, as several teams show interest but lack the funds to buy them at current rising prices.I’ve won in everything I’ve done at all levels and I think we can compete with these guys. I think we can build it brick by brick and it will take people, money and time. It doesn’t escape me that (RWR) is the car in the 36th garage, we all see it. But I think we can make this a competitive, even winning organization.
T.J. Puchyr
