Michael Jordan Testifies He Felt No Fear of Nascar in Antitrust Trial
Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, stated that his competitive side and status as a newcomer emboldened his push for 23XI Racing to confront Nascar over perceived violations of competition laws.
Financial Stakes and a Will to Win
Jordan shared financial and corporate details of his 23XI team, revealing he put in $40 million of his personal wealth into the Nascar Cup series team launched with business partner Curtis Polk and longtime driver Denny Hamlin.
“It fell to someone to act,” Jordan stated during testimony. “As a newcomer, I wasn’t afraid. I felt I could challenge Nascar as a whole. I felt as far as the sport it needed to be looked at through a new lens.”
Central Issue: Charter Agreements and Renewal Demands
At issue is the expiration of a 2016 agreement where Nascar provided each team a “charter”. The concept is similar to other professional sports with separately owned franchises, like the Charlotte Hornets or the Carolina Panthers. The agreement was set to expire in 2024 when Nascar insisted on teams renew their charters.
Jordan was on the witness stand for about sixty minutes and left the court to pandemonium, with onlookers and reporters vying for a view or a photo of the sports legend.
Spearheading the Fight
23XI Racing is at the forefront of the push along with Front Row Motorsports for Nascar to change a business model Jordan contended is unlawful to maintain excessive control.
For Jordan and and a fellow team representative, who testified before Jordan, are events from September 2024. She recounted a frantic and emotional period where the racing circuit informed teams they had to sign a charter agreement extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed spot in Nascar-sponsored races.
Choosing Litigation
Jordan explained that 23XI and Front Row Motorsports concluded their only feasible option was to decline to sign that 112-page package and take the issue to court. All other teams signed the agreement.
The team owners approached Nascar about potential amendments or extension options. Nascar wasn’t talking, according to his testimony.
The Ultimate Motivation: Victory
But in the end, the resistance against what he saw as a financially unsustainable model was driven by the usual bottom line for Jordan: Winning.
“Hamlin persuaded me adding a third car boosted our odds of winning,” he said, sharing that he bought a third charter late in 2024 for $28m amid the legal dispute. “So I took the plunge.”
Account from the Gibbs Family
Heather Gibbs detailed her push for indefinite franchises, submitted in a formal letter to Nascar. She testified the timing of the signature deadline was problematic.
She said, the team founder first tried to call and persuade Nascar against demanding signatures, but CEO Jim France refused the appeal.
“Don’t do this to us,” Gibbs recounted Joe Gibbs told Nascar’s leadership. The response was, “If I wake up and I have 20 charters, I have 20. If there are 30, that’s the number.”