In a significant leadership change for one of America's premier motorsport bodies, Steve Phelps, the first-ever commissioner of NASCAR, has announced his decision to step down from the role by the end of January 2026. The 63-year-old executive, a central figure in stock-car racing for over two decades, leaves after a tenure marked by transformative business deals and recent legal turbulence.
The Rise of a NASCAR Powerhouse
Steve Phelps' journey in NASCAR began in 2005 when he joined as a marketing executive, bringing experience from his previous stints with the NFL and Turner Sports. His climb within the organisation was steady and impactful. He first ascended to the position of chief marketing officer, later took on the responsibilities of chief operating officer, and was ultimately named the president of NASCAR in 2018.
His influence reached a new peak in March 2025 when the organisation created a groundbreaking new position. Phelps was named NASCAR's inaugural commissioner, a role that vested in him comprehensive authority over the sport's business operations, strategic growth initiatives, and long-term planning. Insiders frequently credit Phelps with playing a pivotal role in modernising NASCAR's appeal and attracting a new generation of fans.
Landmark Achievements and Reshaping the Sport
During his leadership, Steve Phelps was instrumental in securing a monumental multi-billion dollar media rights agreement for NASCAR. This deal, counted among the most significant business accomplishments in the sport's history, guaranteed its broadcast future across major television networks and streaming platforms.
Phelps was also a champion of bold innovations. He supported the launch of the Next Gen car in 2022, backed the ambitious and successful Chicago Street Race in 2023, and pushed for plans to expand NASCAR's points races beyond US borders, including potential events in Mexico. Furthermore, he aligned the sport with contemporary environmental concerns by endorsing long-term carbon-reduction strategies.
Compensation, Net Worth, and a Challenging Final Act
Details from court records related to a 2025 antitrust case shed light on Phelps's compensation. As commissioner, he earned an annual base salary of approximately $2.5 million, with the potential for substantial performance bonuses that could significantly increase his total yearly earnings. Given his lengthy career at NASCAR and prior roles in major sports enterprises, his estimated net worth is around $10 million, primarily accumulated through executive salaries and bonuses.
However, Phelps's final year was overshadowed by legal difficulties. In 2025, NASCAR teams 23XI Racing and Front Row Motorsports filed a major antitrust lawsuit against the governing body. During the proceedings, private text messages involving Phelps were made public, causing considerable controversy. Although the lawsuit was eventually settled, the fallout was swift. Just weeks later, in early January 2026, NASCAR confirmed Phelps's departure.
In his farewell message, Steve Phelps expressed gratitude to the France family, the teams, and the loyal fanbase. NASCAR has not yet announced a successor for the commissioner's role, and for the time being, leadership duties are being managed collectively within the organisation.
