Make room, Mooresville. Company’s coming again.
It was announced earlier this week that yet another new NASCAR team will be competing within its premier division with the presence of Live Fast Motorsports.
It becomes the third newest entry to be organized so far this still somewhat short off-season and second of them to be at least temporarily based directly out of Mooresville.
Live Fast Motorsports, co-owned by drivers Matt Tifft and B.J. McLeod, will join 23XI Racing co-owned by driver Denny Hamlin and current National Basketball Association team owner Michael Jordan as those that will be calling the area home over the course of their respective inaugural campaigns.
Live Fast with be in a joint operation in a partnership with Stewart-Haas Racing. The co-owners purchased ownership interest of a charter previously used by Go Fas Racing.
Live Fast owners each share some experience behind the wheel.
Tifft, who at the age of 24 becomes the youngest owner in the NASCAR Cup Series, had made 134 career starts combined between the Cup, Xfinity and Truck series from 2014 through 2019.
As for McLeod, he has also appeared in each of the organization’s three national series and made 16 starts in Cup races this past season. The two are longtime acquaintances dating back to time spent at a driving school based out of Florida.
The two, close enough of companions that McLeod served as a groomsman during Tifft’s wedding in 2019, shared a common interest in becoming team owners and made the move in anticipation of a changing business model when NASCAR introduces its NextGen car in 2022.
The presence of the new model makes ownership more appealing due to the fact that the car is expected to dramatically cut spending. It has also spurred in increase in the bidding for coveted charters that serve to guarantee one of the 36 positions in a race’s field.
Each of the charters earns an automatic percentage of the weekly purse. As a result, owners can recover some of their purchase expenses over the course of a single season of competition.
“Everybody wanted a piece of the pie,” said Live Fast co-owner Tifft, also noting that he and his partner were in negotiations for the purchase prior to the market’s spiked interest, “and there aren’t that many slices. NASCAR’s NextGen car and model for teams will provide opportunities for new teams to compete at a higher level.”
Expectations are already high for the new No. 78 car.
“We want the team to be successful,’’ said McLeod.