Spire Motorsports, which currently fields two full-time entries in the NASCAR Cup Series, has reportedly reached an agreement to purchase a charter from Live Fast Motorsports, per a report from The Athletic.
The charter, which is said to have been purchased from Live Fast Motorsports for about $ 40 million, means that Spire Motorsports will have a three-car team in the NASCAR Cup Series in 2024.
On August 2nd, it was announced that Corey LaJoie had reached a multi-year contract extension with the organization to remain the driver of the No. 7 Chevrolet Camaro, a seat he’s held at NASCAR’s top-level since 2021.
The No. 77 Chevrolet, the organization’s second full-time entry, is currently driven by Ty Dillon, but according to Saturday’s report, the long-time NASCAR Cup Series driver isn’t expected to return to the organization in 2023.
While no driver has been officially announced, The Athletic also reports that Zane Smith, the defending champion of the NASCAR Craftsman Truck Series, is the leading candidate to drive the entry in an unorthodox arrangement with Smith is farmed out to Spire Motorsports, while being under contract to Trackhouse Racing.
Smith, a native of Huntington Beach, California, is currently in the middle of his fourth full-time season in the NASCAR Craftsman Truck Series, where he’s collected nine victories and three top-two points finishes, including the series title last year for Front Row Motorsports.
The 24-year-old driver has also been introduced into the NASCAR Cup Series on a part-time basis this season, having competed in six events for Front Row Motorsports and Rick Ware Racing, netting a best finish of 10th-place.
With this charter purchase expected to exceed $ 40 million, this transition will be the highest price point for a guaranteed spot in the NASCAR Cup Series field since the charter system was instituted prior to the 2016 season.