T.J. Puchyr, a co-founder of Spire Motorsports, has entered an agreement to purchase Rick Ware Racing and plans to expand the operation into a three-car NASCAR Cup Series team by 2027, marking his return to team ownership after selling his stake in Spire last year.
The deal, which takes effect in 2026, comes as the charter market continues to evolve and legal disputes over franchise rights intensify across NASCAR. Puchyr's acquisition represents another shift in team ownership as investors bet on the long-term value of NASCAR's franchise system.
Puchyr told The Associated Press he is "jumping back into the stock car series because he believes the current charters are grossly undervalued"1. He values charters at "$75 million or more," well above recent sale prices of approximately $30 million when Stewart-Haas Racing dissolved12.
"I am bullish on wanting to build a three-car team. I believe in the France family and the direction of the sport," Puchyr said1. The former Spire co-founder, who sold his shares to Dan Towriss in 2024, spent 2025 consulting with various teams including RWR and Legacy Motor Club3.
Under the agreement, Rick Ware will remain as a partner while his son Cody continues driving the No. 51 Ford12. All current RWR employees will be retained1.
Rick Ware Racing currently owns two charters. One supports Cody Ware's operation, while the second is leased to RFK Racing through 202623. Puchyr expects the leased charter to return to his organization in 2027, enabling the three-car expansion1.
"I've won at everything I've done at every level, and I think we can compete with these guys," Puchyr told the AP4. "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."
The acquisition occurs amid ongoing litigation between RWR and Legacy Motor Club over a disputed charter sale12. Legacy claims RWR agreed to sell a charter for $45 million, while RWR filed a countersuit arguing the deal was for 2027, not 20261.
Puchyr previously helped revitalize NASCAR's charter market when he and Jeff Dickerson purchased Furniture Row Racing's charter for $6 million in 2018, launching Spire Motorsports3. That move "jump-started" what the Associated Press called a "dormant" charter system4.
