What is Steve Phelps net worth? NASCAR commissioner’s salary, career earnings, and rise to the top

Steve Phelps, the longtime NASCAR executive who became the sport’s first commissioner in March 2025, is stepping away from his role by the end of January 2026. Now 63, Phelps spent more than 20 years inside NASCAR and became one of the most powerful people in stock-car racing. He helped secure major media deals, pushed new race locations, and guided the sport through big changes. His exit comes after a difficult year that included a major antitrust lawsuit involving NASCAR teams.Steve Phelps joined NASCAR in 2005 as a marketing executive after working with the NFL and Turner Sports. Over the years, he slowly climbed the ladder. He became chief marketing officer, then chief operating officer, and in 2018, he was named NASCAR president.In March 2025, NASCAR created a new role and named Phelps the sport’s first commissioner. That move gave him control over business operations, growth plans, and long-term strategy. People inside NASCAR often credited Steve Phelps for helping modernize the sport and bring in new fans.During his time in charge, Steve Phelps helped NASCAR land a massive multi-billion-dollar media rights deal, which secured the sport’s future on major TV and streaming platforms. That deal was one of the biggest business moves in NASCAR history.He also supported bold changes, including the Next Gen car launch in 2022, the Chicago Street Race in 2023, and plans to expand NASCAR’s points races outside the United States, including events in Mexico. Steve Phelps also backed NASCAR’s push toward environmental goals, including long-term carbon-reduction plans.Court records from the 2025 antitrust case revealed details about Steve Phelps’s pay. As commissioner, he earned a base salary of about $2.5 million per year, with bonus chances that could raise his total yearly pay much higher.Because of his long career at NASCAR and earlier work in major sports companies, business reports estimate Steve Phelps’s net worth around $10 million. Most of that money came from executive salaries, performance bonuses, and long-term business roles, not side businesses.Steve Phelps’s final year in charge was difficult. In 2025, 23XI Racing and Front Row Motorsports filed an antitrust lawsuit against NASCAR. During that case, private text messages involving Phelps became public and caused backlash.The lawsuit later settled, but only weeks later, in early January 2026, NASCAR confirmed that Steve Phelps would step away as commissioner by the end of the month. In his message, Steve Phelps thanked the France family, NASCAR teams, and fans. NASCAR has not yet named a new commissioner, and leadership duties are being shared for now.Also Read: Tyson Fury Breaks Silence On Comeback As Former Heavyweight Champion Confirms Return Despite Massive Fortune