NASCAR, Sprint Cup teams meet on charters; sides ‘close’ to deal

NASCAR officials and Sprint Cup car owners have been meeting this week, moving closer to resolution on a new charter system intended to guarantee financial stability and security to teams. A source who was present for a meeting Friday said that no deal had been signed, but that the sides were "close."

The source spoke on the condition of anonymity because they weren't authorized to speak publicly about the talks. Adam Stern of the Sports Business Journal tweeted that the system was likely to be unveiled in two weeks, which would point to an announcement during Speedweeks.

NASCAR teams will arrive Feb. 11 at the Daytona International Speedway garage in preparation for the Feb. 21 season-opening Daytona 500. Stern also tweeted the charter system deal would be for five years with a four-year option. Asked for comment,

NASCAR spokesman David Higdon said in a release: "NASCAR and NASCAR Sprint Cup team owners have continued to make progress in our discussions. There still is work to be done, but we remain very optimistic that we'll have agreements completed prior to the start of the 2016 season." Rob Kauffman, chairman of the Race Team Alliance consortium that has been brokering the deal on behalf of the owners, also tweeted he felt positive about negotiations. NBC Sports