SPORTS TODAY
NASCAR and Michael Jordan’s racing team, 23XI, have settled an antitrust lawsuit. On Thursday, the parties reached an agreement over NASCAR’s alleged monopoly on U.S. premier stock car racing.
Jordan’s team, which he co-owns with driver Denny Hamlin, and Front Row Motorsports Inc. reached a deal with NASCAR on the ninth day of their federal trial. The financial agreement will not be publicly disclosed as part of the settlement terms.
“This resolution reflects our shared commitment to maintaining a fair and equitable framework for long-term participation in America’s premier motorsport, one that supports teams, partners, and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world,” according to a joint statement. “The agreement allows all parties to move forward with a unified focus on advancing stock car racing and delivering exceptional competition for our fans.”
Last year, 23XI and Front Row Motorsports accused NASCAR of anticompetitive and exclusionary practices that financially compromised teams. The lawsuit followed failed negotiations between NASCAR and the racing teams over a new charter agreement, which guarantees money and racing spots in the Cup Series.
“From the beginning, this lawsuit was about progress,” Jordan said in a statement after the settlement. “It was about making sure our sport evolves in a way that supports everyone: teams, drivers, partners, employees and fans.
“With a foundation to build equity and invest in the future and a stronger voice in the decisions ahead, we now have the chance to grow together and make the sport even better for generations to come.”
In 2016, NASCAR implemented charter agreements, similar to franchising. The 36 teams involved in the charter agreements were guaranteed entry into every season race and a larger share of purse money than non-charter teams. After the previous agreement expired at the end of the 2024 season, NASCAR gave teams less than one day to agree to the 2025-2031 charter agreement. NASCAR claimed it was its final offer after months of negotiations. Most teams signed on, but 23XI and Front Row Motorsports held out, leading to the lawsuit.
Judge Bell said the solution was “the right thing to do.”
“This is going to be great for the entity NASCAR, the industry NASCAR, the teams, the drivers, and as you have so often said yourselves, ultimately the fans,” Bell said.
