Michael Jordan's Lawsuit Against NASCAR Underway
Michael Jordan’s Lawsuit Against NASCAR Underway: “They Told Me To Shut Up” - Page 2
Michael Jordan ruled the basketball court for decades, but now he’s found himself in legal court thanks to his newfound obsession: NASCAR.
Jordan owns 23XI Racing alongside three-time Daytona 500 winner Denny Hamlin, and they’ve joined another team, Front Row Motorsports, in a fight against the owners of NASCAR.
In 2024, the two teams were presented with new charter agreements to sign in order to continue participating in the races. The charter is essentially like an NBA team’s franchise rights, which give each team spots in the Cup races and a piece of the profits through media deals, purses, and sponsorships.
According to Yahoo Sports, the initial 2024 offer from NASCAR was a seven-year charter agreement that would increase media revenue and raise the annual cost from $5.5 million to $8.5 million. But more than a year later, negotiations have proved unsuccessful for 23XI and Front Row, while the 15 other teams eventually signed.
So 23XI and Front Row are suing the France family—who owns NASCAR—accusing them of violating antitrust laws, claiming they’re running a monopoly. They feel they’re forced to take part in the charter system, that the prices cut into their profits, and that they’re prevented from competing “without accepting the anticompetitive terms.”
The lawsuit threatens to upend NASCAR’s existing business model and could usher in a new era that puts more power into the hands of individual teams, possibly ending the charter system.
“I am once again amazed at the effort going on to burn this house down over everyone’s head, but I’m a fire marshal, and I’ll be here in December if need be,” Judge Kenneth D. Bell said in June.
Jordan, however, made it clear he’s up for the challenge, saying in a text message leading up to the court date, “I look forward to going down firing. If I have to fight this to the end for the betterment of the sport, I will do that.”
He didn’t have much to say outside of the first day of court, telling eager members of the media, “I can’t comment, they told me to shut up.”
See social media’s reaction to Jordan’s lawsuit against NASCAR below.
Michael Jordan’s Lawsuit Against NASCAR Underway: “They Told Me To Shut Up” - Page 2 was originally published on cassiuslife.com
