Forbes says Hendrick Motorsports is the most valuable team

Forbes says Hendrick Motorsports is the most valuable team

NEW YORK (AP)—Forbes’ annual rankings show that Hendrick Motorsports is the most valuable team in NASCAR for the third consecutive year.

Forbes’ report released Wednesday showed NASCAR’s top team was worth $350 million. But the report finds the average team value has declined 5 percent over the past year because of declining sponsorships.

Roush Fenway Racing is again ranked second at a value of $224 million, and Richard Childress Racing is ranked third at $158 million.

Joe Gibbs Racing ($152 million) and Penske Racing ($100 million) round out the top five.

Forbes says the average team is valued at $136 million and generated an average of $89 million in revenue last year.