The NASCAR Sprint Cup has created a new charter system to give teams a bigger say in how the series is run and it is hoped to produce greater stability.

36 NASCAR squads have been handed nine-year charters and a guaranteed grid slot for the Sprint Cup series, with charter teams having a more meaningful say on how the sport is governed and run thanks to the formation of the Team Owner Council.

NASCAR chairman Brain France has hailed the agreement as 'a landmark change' and hopes the move brings a stronger initiative between rival teams, manufacturers, drivers and sponors.

"Today represents a landmark change to the business model of team ownership in NASCAR," France said. "The charter agreements provide nine years of stability for NASCAR and the teams to focus on growth initiatives together with our track partners, auto manufacturers, drivers and sponsors.

"The charters also are transferable, which will aid in the development of long-term enterprise value for charter members."

NASCAR'S 36 charters:

Hendrick Motorsports - 4
Richard Childress Racing - 3
Roush Fenway Racing - 3
Joe Gibbs Racing - 3
Stewart-Haas Racing - 3
Richard Petty Motorsports - 2
Team Penske - 2
BK Racing - 2
Chip Ganassi Racing - 2
Front Row Motorsports - 2
Michael Waltrip Racing - 2
Furniture Row Racing - 1
JTG Daugherty Racing - 1
Tommy Baldwin Racing - 1
Germain Racing - 1
Go Fas Racing - 1
Premium Motorsports - 1
Circle Sport Racing - 1
HScott Motorsports - 1

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