🔗 Share this article

The basketball icon, as he cordially introduced himself in a Charlotte court on Friday, stated that his drive to win and novelty within the sport motivated his effort with 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.

Team Investment and a Competitive Drive

Jordan shared financial and corporate details of his 23XI team, revealing he put in $40m of his own funds into the Nascar Cup series team co-founded with business partner Curtis Polk and driver Hamlin.

“Someone had to step forward,” Jordan said in the Charlotte courtroom. “I was a new person, I wasn’t afraid. I believed I could take on Nascar in its entirety. I felt as far as the sport required examination through a new lens.”

Central Issue: Charter Agreements and Renewal Demands

The heart of the case involves the end of a 2016 deal where Nascar provided each team a “charter”. The concept is similar to other professional sports with separately owned franchises, such as the Charlotte Hornets or the NFL’s Panthers. This deal was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan testified for an hour and left the court to a media frenzy, with onlookers and reporters clamoring for a view or a picture of the global icon.

Spearheading the Fight

Jordan’s 23XI is leading the full-court press along with another racing team for Nascar to overhaul a operating model Jordan contended is unlawful to keep two hands on the wheel.

At issue for Jordan and Heather Gibbs, who testified before Jordan, are events from September 2024. She recounted a frantic and emotional period where the sanctioning body informed teams they had to sign a contract extension. This agreement spanned over a hundred pages detailing pay for chartered teams and a guaranteed spot in Nascar-sponsored races.

A Refusal to Sign

Jordan said that 23XI and Front Row Motorsports decided their only feasible option was to refuse a signature that extensive document and litigate the matter. The other 13 organizations agreed to the terms.

Jordan and co-owner Denny Hamlin approached Nascar about possible changes or extension options. Nascar refused to engage, according to his testimony.

The Bottom Line: Winning

But in the end, the resistance against what he saw as a unsustainable system was mostly about the usual bottom line for Jordan: Success.

“Hamlin persuaded me getting a third driver improved our chances to win,” he testified, sharing that he bought a third charter last year for $28 million amid the legal dispute. “So I took the plunge.”

Account from the Gibbs Family

Heather Gibbs detailed her request for permanent charters, submitted in a formal letter to Nascar. She said the timing of the contract signing demand didn’t sit well.

According to her, the team founder first attempted to call and persuade Nascar against forcing signatures, but CEO Jim France declined the request.

“Don’t do this to us,” Heather Gibbs said was the message to Nascar’s executives. The response was, “If I wake up and I have 20 charters, that’s what I have. If I have 30, I have 30.”