NASCAR Settles Antitrust Lawsuit with Michael Jordan
NASCAR settled an antitrust lawsuit with 23XI Racing and Front Row Motorsports, co-owned by Michael Jordan, agreeing to make team charters permanent.Summary
NASCAR has reached a settlement in an antitrust lawsuit filed by 23XI Racing, owned by Michael Jordan, Curtis Polk, and Denny Hamlin, along with Front Row Motorsports. The lawsuit alleged that NASCAR’s charter system, which guarantees teams a spot in races and a share of revenue, constituted a monopoly. The two teams had refused to sign the charter renewal in late 2024, seeking permanent charters, a larger revenue share, and greater governance input. Following the settlement, NASCAR Chairman Jim France announced that charters would be made permanent for all Cup Series teams, and both 23XI and Front Row Motorsports would regain their charters. While the financial terms remain undisclosed, an economist estimated damages owed to the teams at over $300 million. All parties expressed a shared commitment to the sport’s future, calling the settlement a “landmark moment” that strengthens NASCAR’s foundation.
(Source：Brietbart)