Michael Jordan testified Friday that a new business model for NASCAR was needed because teams were risking their lives, citing the league as a monopolistic bully. The former NBA star claimed his co-owned team 23XI had no choice but to sue the organization when NASCAR refused to make permanent revenue-sharing agreements for its drivers.
Jordan stated that the current system does not offer teams any financial security and has led to teams investing heavily in their operations, despite often losing money. He pointed out that in the NBA, players receive a significant share of revenue, which he believes is an unsustainable model for NASCAR.
He also spoke about how his own team invested $35 million to become more competitive on the track, with Jordan saying, "I'm pretty sure they know I love to win." The six-time NBA champion stated that permanent charters were necessary for teams to secure their investments and protect their interests in the sport.
Jordan's testimony follows dramatic statements from his daughter-in-law Heather Gibbs, who described the intense pressure teams faced when trying to negotiate a new revenue agreement. Gibbs testified that NASCAR made it clear they would not make any concessions, leaving teams feeling devastated.
The case centers around the 112-page charter extension signed by 15 of the 38 Cup Series teams in September 2024. Only two teams, Jordan's co-owned 23XI and fast food franchiser Bob Jenkins' Front Row Motorsports, refused to sign the deal, citing that it was unfair for them.
The trial is ongoing with testimony from both sides expected to continue over the coming days. The judge has cautioned against a slow pace of the trial, warning both sides to keep their witnesses engaged in conversation.
Jordan stated that the current system does not offer teams any financial security and has led to teams investing heavily in their operations, despite often losing money. He pointed out that in the NBA, players receive a significant share of revenue, which he believes is an unsustainable model for NASCAR.
He also spoke about how his own team invested $35 million to become more competitive on the track, with Jordan saying, "I'm pretty sure they know I love to win." The six-time NBA champion stated that permanent charters were necessary for teams to secure their investments and protect their interests in the sport.
Jordan's testimony follows dramatic statements from his daughter-in-law Heather Gibbs, who described the intense pressure teams faced when trying to negotiate a new revenue agreement. Gibbs testified that NASCAR made it clear they would not make any concessions, leaving teams feeling devastated.
The case centers around the 112-page charter extension signed by 15 of the 38 Cup Series teams in September 2024. Only two teams, Jordan's co-owned 23XI and fast food franchiser Bob Jenkins' Front Row Motorsports, refused to sign the deal, citing that it was unfair for them.
The trial is ongoing with testimony from both sides expected to continue over the coming days. The judge has cautioned against a slow pace of the trial, warning both sides to keep their witnesses engaged in conversation.
This whole NASCAR thing is getting pretty wild... I mean, who knew it was this tough for teams to make ends meet? 
35 million dollars invested and still losing money? That's crazy talk! 
And now Michael Jordan is coming out swinging, saying the league is a monopolistic bully? 
It sounds like NASCAR needs some serious restructuring if they want to keep their drivers safe... both on and off the track. 
I'm no expert, but it seems like teams are just getting caught in the middle of all this power struggles between the league and the drivers. What's your take on this? 
it's crazy how passionate he is about this issue - it's not just about the money, it's about the teams' lives on the track! 
i think what's really interesting here is how he and his daughter-in-law are painting a picture of a monopolistic organization that doesn't care about its teams. NASCAR's response to permanent revenue-sharing agreements seems pretty extreme - refusing to make any concessions? that's just ridiculous! 
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I mean, I love racing and all but it's crazy that teams are risking their lives just to stay competitive. 35 million dollars invested by Michael Jordan's team is insane, and now they're fighting for permanent revenue-sharing agreements. It's not right, in my opinion. The drivers should be getting a fair share of the money, you know? 
Like, I get that teams need to invest to stay ahead, but it shouldn't come at the cost of people's safety. And what's up with NASCAR being so rigid about this? Can't they see how unsustainable their current model is? 
). What I find more interesting is how the teams that signed that charter extension are just swallowing it without even fighting back. It's like they're giving up and expecting nothing else 
. the whole system is broken and someone needs to shake things up.
. it's like, can't we all just get along? 
. he's not afraid to call out NASCAR for being unfair and holding teams hostage 
. i hope they can get to the bottom of this and figure out a new business model that works for everyone 
. It's all about profits over people, right? And what's up with teams shelling out $35 million to become competitive only to have it feel like they're operating in the red