🔗 Share this article Michael Jordan Tells Court He ‘Wasn’t Afraid’ of Nascar in Antitrust Trial Michael Jeffrey Jordan, as he cordially introduced himself in a federal courtroom on Friday, admitted that his drive to win and novelty within the sport motivated his push for 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules. Team Investment and a Competitive Drive The owner disclosed financial and corporate details of his racing venture, saying he invested $40 million of his own funds into the Cup Series operation co-founded with partner Polk and driver Hamlin. “Someone had to step forward,” Jordan said in the Charlotte courtroom. “As a newcomer, I had no fear. I believed I could take on Nascar as a whole. From my perspective, the sport required examination through a new lens.” The Core Dispute: Charter Agreements and Renewal Demands At issue is the end of a 2016 agreement where Nascar granted each team a “charter”. The concept is similar to other professional sports with independent franchises, such as the Charlotte Hornets or the NFL’s Panthers. The agreement was set to expire in 2024 when Nascar insisted on charter membership renewals. Jordan testified for about sixty minutes and exited the courthouse to pandemonium, 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 unlawful to maintain excessive control. At issue for Jordan and a fellow team representative, who preceded Jordan, are events from September 2024. She recounted a hectic and tense period where the sanctioning body told teams they must sign a charter agreement extension. This agreement consists of over a hundred pages outlining pay for chartered teams and a guaranteed spot in every race. Choosing Litigation Jordan explained that 23XI and Front Row Motorsports concluded their sole viable path was to decline to sign that extensive document and take the issue to court. The other 13 organizations agreed to the terms. Jordan and co-owner Denny Hamlin approached Nascar about possible changes or negotiations. Nascar refused to engage, according to his testimony. The Ultimate Motivation: Victory Ultimately, the resistance against what he saw as a financially unsustainable model was driven by the usual bottom line for Jordan: Winning. “Hamlin persuaded me getting a third driver boosted our odds of winning,” he said, sharing that he bought a third charter last year for $28m despite the uncertainty. “So I dove in.” Heather Gibbs’ Testimony Gibbs described her request for permanent charters, submitted in a written letter to Nascar. She said the timing of the contract signing demand didn’t sit well. According to her, the team founder first attempted to call and persuade Nascar against demanding signatures, but CEO Jim France refused the appeal. “Please don’t force this on us,” Heather Gibbs said Joe Gibbs told Nascar’s leadership. She said France replied, “If I wake up and I have 20 charters, I have 20. If I have 30, I have 30.”