NASCAR Has Agreed to Make Charters Permanent After Michael Jordan's Team Files Federal Antitrust Lawsuit
In a significant development, NASCAR has settled a federal antitrust lawsuit filed by two teams, including one owned by basketball legend Michael Jordan. The agreement makes the charters at the heart of NASCAR's business model permanent for all Cup Series teams, ensuring that they will no longer be renewable.
The lawsuit, which was filed last year by 23XI Racing and Front Row Motorsports, accused NASCAR of being a monopolistic bully. The two teams refused to sign agreements on the new charter offers presented in September 2024, which guaranteed access to top-level Cup Series races and a revenue stream. Jordan and his team sued instead, citing that a loss would have put them out of business.
The settlement comes after eight days of testimony, during which the Florida-based France family, the founders and private owners of NASCAR, were shown to be inflexible in making the charters permanent. The defense had initially focused on mitigating damages rather than proving that NASCAR did not act anticompetitively.
As part of the agreement, 23XI Racing and Front Row Motorsports will receive a significant financial payout, estimated to be over $300 million in damages. However, the exact amount was not disclosed. The settlement also marks a major victory for Jordan, who had pushed ahead with the lawsuit, saying that he felt like one of the few who could challenge the series.
NASCAR Chairman Jim France and Jordan joined forces outside the courthouse, flanked by co-owner Denny Hamlin and Front Row owner Bob Jenkins. "Today's a good day," Jordan said, reflecting on the outcome.
The settlement has been welcomed by both NASCAR and the plaintiffs, with a joint statement describing it as a "landmark moment" that ensures the sport's foundation is stronger and its future brighter. The agreement marks a significant shift in power dynamics within the sport, giving teams more control over their own destiny and paving the way for greater competition.
In a statement from the court, U.S. District Judge Kenneth Bell expressed his satisfaction with the outcome, saying that he believes it will be "great for NASCAR, great for the future of NASCAR, great for the entity of NASCAR, great for the teams and ultimately great for the fans."
In a significant development, NASCAR has settled a federal antitrust lawsuit filed by two teams, including one owned by basketball legend Michael Jordan. The agreement makes the charters at the heart of NASCAR's business model permanent for all Cup Series teams, ensuring that they will no longer be renewable.
The lawsuit, which was filed last year by 23XI Racing and Front Row Motorsports, accused NASCAR of being a monopolistic bully. The two teams refused to sign agreements on the new charter offers presented in September 2024, which guaranteed access to top-level Cup Series races and a revenue stream. Jordan and his team sued instead, citing that a loss would have put them out of business.
The settlement comes after eight days of testimony, during which the Florida-based France family, the founders and private owners of NASCAR, were shown to be inflexible in making the charters permanent. The defense had initially focused on mitigating damages rather than proving that NASCAR did not act anticompetitively.
As part of the agreement, 23XI Racing and Front Row Motorsports will receive a significant financial payout, estimated to be over $300 million in damages. However, the exact amount was not disclosed. The settlement also marks a major victory for Jordan, who had pushed ahead with the lawsuit, saying that he felt like one of the few who could challenge the series.
NASCAR Chairman Jim France and Jordan joined forces outside the courthouse, flanked by co-owner Denny Hamlin and Front Row owner Bob Jenkins. "Today's a good day," Jordan said, reflecting on the outcome.
The settlement has been welcomed by both NASCAR and the plaintiffs, with a joint statement describing it as a "landmark moment" that ensures the sport's foundation is stronger and its future brighter. The agreement marks a significant shift in power dynamics within the sport, giving teams more control over their own destiny and paving the way for greater competition.
In a statement from the court, U.S. District Judge Kenneth Bell expressed his satisfaction with the outcome, saying that he believes it will be "great for NASCAR, great for the future of NASCAR, great for the entity of NASCAR, great for the teams and ultimately great for the fans."
so basically michael jordan's team just won a lawsuit against nascar and now the charters are permanent lol what a surprise 
i mean who doesn't love more control over their own destiny in a multibillion dollar sport? the financial payout is pretty sweet too 
$300 million or whatever but let's be real, this settlement is just gonna lead to more drama and lawsuits down the line...the power dynamics shift is cute though 
NASCAR's new permanent charter system is a huge win for monopoly corporations like France family & friends. Allowing them to control everything will just lead to higher ticket prices, less competition, and fewer opportunities for smaller teams. And $300 million in damages? That's just peanuts for these powerful people 
.
The fact that Michael Jordan's team was willing to take on the league in court basically means they weren't getting any love from NASCAR. And now, with the charter thing being permanent, it's like teams are finally getting some control over their own business. It's not gonna be easy, but at least they'll have a better shot at competing against each other. As for me, I don't really follow racing too much, so it's all pretty new to me... but hey, more power to the people on the track! 
from my source 
. So basically Michael Jordan's team was like "we're outta here" when they didn't get their charter deal 
. The thing is, NASCAR didn't really want to lose that monopoly power 
so I guess they just gave in. It's a win for Jordan and his team though, they got like $300 million 
and the financial payout? 
. so the charters are permanent now, which basically means that teams can't just leave or start a new one whenever they want? like, what if someone wants to try out a new business model and it doesn't work out? do they get to just up and quit because the 'agreement' says so? 
. but honestly, i'm just confused. what does it all mean in the end? is this really going to make NASCAR 'stronger' and 'brighter'? or is it just going to lead to more stuff getting locked up in agreements and less room for creativity? 
. And hey, it's not just about him, but about all the fans who are gonna benefit from more competitive racing and a healthier business model 
! its about time nascar got called out for being a monopoly lol. i mean who doesnt love competition? now that charters are permanent i guess its gonna be more interesting to watch the teams duke it out 
. the $300 million payout is crazy btw 
they're making charters permanent after michael jordan's team fought so hard to make it happen. i'm all about competition & fair play, so it's awesome that these teams are getting a win like this 
maybe not as big as nascar, but just for fun. has anyone else tried their hand at car racing? 
. Anyway, I'm glad it's all settled and we can move on to more important things... like which car is gonna be the fastest next year 
it's crazy how much power the france family had over these teams I'm glad michael jordan took on the system and pushed for this change now teams have more control over their own futures 
The fact that they were able to take on NASCAR and come out on top is just amazing. It's like someone finally stood up to those guys and said "you know what, we're not gonna be pushed around".
. This new agreement might actually help smaller teams compete more evenly, but it's also gonna be super tough for them to keep up with the big boys 
and now I'm thinking about how crazy the NFL's new rule is