The Furniture Row Racing charter has been sold to Spire Sports + Entertainment company.
Driver Martin Truex Jr. moves over to Joe Gibbs Racing for the 2019 season after FRR owner Barney Visser made the decision to close down the team after losing key sponsorship.
According to NBC Sports, the team team will field Chevrolets with the No. 77 being on the car owned by Spire founders Jeff Dickerson and TJ Puchyr.
“We think this is the perfect time to buy in,” Dickerson told NBC Sports.
“Our guys sit in boardrooms and tell people how much they believe in the sport. We believe in this sport. We believe in the leadership.”
While NASCAR does not publicly reveal the value of charters, BK Racing’s charter was recently acquired by Front Row for $2 million.