NASCAR Sprint Cup introduces 36 team charter system for 2016

Thirty-six teams have been granted the nine-year charters and each is guaranteed a grid slot for Sprint Cup races, which have been reduced to 40 from 43 starters for 2016.

The charter teams will also have a say in the governance of and leadership of the series through the establishment of a Team Owner Council.

"Today represents a landmark change to the business model of team ownership in NASCAR," said NASCAR chairman Brian France.

"The charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors.

"The charters also are transferable, which will aid in the development of long-term enterprise value for charter members."

The charter system has been conceived to give greater stability to participating teams, and has met with a positive response.

"The new charter programme strengths each of our businesses individually and the team model as a whole, which is good for NASCAR, our fans, drivers, sponsors and the thousands of people who we employ," said Rob Kauffmann, co-owner of Chip Ganassi Racing, which has charters for its #1 and #42 teams.

"NASCAR and the teams share a desire to preserve, promote and grow the sport and ultimately produce great racing for our fans and partners.

"These common goals served as the foundation for discussions and helped bring us to his unprecedented agreement.

"This is a giant step forward for the entire sport made possible by Brian France setting a new course for the NASCAR industry and the owners coming together on shared issues."

NASCAR will allow non-charter teams to participate, with four places on the grid and the ability to acquire charters from the teams that hold them.

Stewart-Haas Racing does not hold a charter for Kurt Busch's car and nor does Joe Gibbs Racing for Carl Edwards' entry, as these are relatively new additions but this will not prevent them from competing.

Michael Waltrip Racing also has two charters for its defunct Sprint Cup team, which could be transferred.

NASCAR'S 36 CHARTERS

Richard Petty Motorsports - 2 charters

Richard Childress Racing - 3

Team Penske - 2

Hendrick Motorsports - 4

Roush Fenway Racing - 3

Chip Ganassi Racing - 2

Joe Gibbs Racing - 3

Michael Waltrip Racing - 2

Stewart-Haas Racing - 3

Furniture Row Racing - 1

Front Row Motorsports - 2

JTG Daugherty Racing - 1

Tommy Baldwin Racing - 1

Germain Racing - 1

Go Fas Racing - 1

BK Racing - 2

Premium Motorsports - 1

Circle Sport Racing - 1

HScott Motorsports - 1