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|Forbes Ranks Hendrick Top Value in NASCAR
|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.
Forbes ranked three Hendrick drivers as the highest paid in NASCAR. Dale Earnhardt Jr. is first at $29 million, followed by Jeff Gordon ($25 million) and Jimmie Johnson ($24 million.)
Tony Stewart was fourth at $18 million and Kevin Harvick fifth at $15 million.
(Copyright 2011 by The Associated Press. All Rights Reserved.)