🔗 Share this article

The basketball icon, as he cordially introduced himself in a Charlotte court on Friday, stated that his drive to win and status as a newcomer emboldened his effort with 23XI Racing to “challenge” Nascar over alleged violations of antitrust rules.

Team Investment and a Competitive Drive

Jordan shared operational insights of his 23XI team, revealing he invested $40 million of his personal wealth into the Cup Series operation co-founded with partner Polk and driver Hamlin.

“It fell to someone to act,” Jordan said during testimony. “I was a new person, I had no fear. I believed I could take on Nascar in its entirety. From my perspective, the sport required examination from a different view.”

The Core Dispute: Franchise System and Renewal Demands

At issue is the end of a 2016 agreement where Nascar granted each team a franchise. The concept is similar to other major leagues with separately owned franchises, such as the NBA’s Hornets or the NFL’s Panthers. The agreement was set to expire in 2024 when Nascar demanded teams renew their charters.

Jordan testified for an hour and exited the courthouse to a media frenzy, with fans and media clamoring for a view or a picture of the global icon.

Leading the Legal Charge

23XI Racing is at the forefront of the push along with another racing team for Nascar to overhaul a business model Jordan said is breaking the law to keep two hands on the wheel.

For Jordan and and a fellow team representative, who preceded Jordan, are details from September 2024. She recounted a frantic and emotional period where the sanctioning body informed teams they must sign a contract extension. The document consists of over a hundred pages outlining team compensation and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan said that his team and its ally decided their only feasible option was to refuse a signature that extensive document and take the issue to court. The other 13 organizations signed the agreement.

The team owners reached out to Nascar about possible changes or negotiations. Nascar refused to engage, Jordan said.

The Bottom Line: Victory

Ultimately, the resistance against what he saw as a unsustainable system was driven by the familiar goal for Jordan: Winning.

“Hamlin persuaded me adding a third car improved our chances to win,” he said, sharing that he bought a third charter late in 2024 for $28 million despite the uncertainty. “So I took the plunge.”

Account from the Gibbs Family

Heather Gibbs detailed her request for permanent charters, submitted in a written letter to Nascar. She testified the timing of the contract signing demand was problematic.

According to her, Joe Gibbs first attempted to call and talk Nascar out of forcing 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, “Whether I have 20 charters, I have 20. If there are 30, that’s the number.”