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NASCAR Chairman and CEO Brian France speaks during a news conference in Charlotte, N.C., Tuesday, Feb. 9, 2016. NASCAR announced a new charter system for team owners. (AP Photo/Chuck Burton)

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NASCAR Chairman and CEO Brian France speaks during a news conference in Charlotte, N.C., Tuesday, Feb. 9, 2016. NASCAR announced a new charter system for team owners. (AP Photo/Chuck Burton)

NASCAR allows franchise system to give team owners value

CHARLOTTE, N.C. - NASCAR announced a dramatic overhaul of its business model Tuesday, shifting to a franchise-like system that is intended to provide actual value and financial stability to team owners after decades of heavy reliance on sponsors.

The change gets away from the independent contractor model that had been used ...

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