🔗 Share this article

The basketball icon, as he cordially introduced himself in a Charlotte court on Friday, admitted that his drive to win and status as a newcomer motivated his effort with 23XI Racing to confront Nascar over perceived violations of antitrust rules.

Team Investment and a Will to Win

The owner disclosed financial and corporate details of his 23XI team, revealing he invested $40 million of his personal wealth into the Cup Series operation launched with business partner Curtis Polk and driver Hamlin.

“It fell to someone to act,” Jordan stated during testimony. “I was a new person, I had no fear. I believed I could take on Nascar as a whole. I felt as far as the sport it needed to be looked at from a different view.”

Central Issue: Charter Agreements and Contract Pressure

At issue is the end of a 2016 agreement where Nascar granted each team a “charter”. This system mirrors other professional sports with independent franchises, like the NBA’s Hornets or the Carolina Panthers. The agreement was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan was on the witness stand for an hour and left the court to a media frenzy, with fans and media vying for a glimpse or a photo of the sports legend.

Spearheading the Fight

Jordan’s 23XI is at the forefront of the push along with Front Row Motorsports for Nascar to change a operating model Jordan contended is unlawful to maintain excessive control.

For Jordan and and a fellow team representative, who testified before Jordan, are events from last September. Gibbs described a frantic and emotional six hours where the racing circuit informed teams they must sign a charter agreement extension. This agreement spanned over a hundred pages outlining pay for chartered teams and a guaranteed spot in every race.

A Refusal to Sign

Jordan said that his team and its ally concluded their only feasible option was to decline to sign that extensive document and take the issue to court. All other teams signed the agreement.

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

The Bottom Line: Victory

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

“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 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 pressure of the contract signing demand didn’t sit well.

According to her, the team founder first attempted to call and talk Nascar out of demanding signatures, but CEO Jim France refused the appeal.

“Please don’t force this on us,” Gibbs recounted was the message to Nascar’s leadership. The response was, “Whether I have 20 charters, I have 20. If I have 30, that’s the number.”