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.'
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