On Sunday, NASCAR drivers will assemble at Homestead-Miami Speedway to race in the Monster Energy Cup Championship. Drivers compete for the love of the game, but for the eventual winner, there's lots of prize money at stake.
And that's a good thing, given that the costs associated with racing are far from cheap, a group of NASCAR drivers told CNBC this week. In fact, the cost of fielding a team can easily reach seven figures.
"It takes about a million dollars a race to run one of these race cars. That's a lot of money," professional stock car driver Brad Keselowski said on CNBC's "Power Lunch."
On Sunday, Keselowski — along with fellow NASCAR drivers Kyle Busch, Kevin Harvick, and Martin Truex Jr. — will compete in the Monster Energy championship. The winner will take home a $1 million purse, in addition to sponsorships that could be worth millions.
Sunday's race takes place as NASCAR revenues have taken a hit, amid falling television viewership, declining revenues at major tracks and unfilled sponsorships. In 2016, the value of the top 10 NASCAR teams fell by 7 percent, Forbes reported earlier this year.
It raises the stakes for a game that takes lots of money to grease the wheels of those fast cars.
"You have to raise a good amount of financial [backers] and capital to race these cars," Keselowski told CNBC. "You have a lot of Fortune 500 companies to make the wheels go 'round."
Winning a championship title "solidifies your future," he added.