🔗 Share this article

Michael Jeffrey Jordan, introducing himself formally in a federal courtroom on Friday, admitted that his competitive side and status as a newcomer emboldened his effort with 23XI Racing to “challenge” Nascar over alleged violations of antitrust rules.

Financial Stakes and a Competitive Drive

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

“It fell to someone to act,” Jordan stated in the Charlotte courtroom. “As a newcomer, I wasn’t afraid. I believed I could take on Nascar as a whole. From my perspective, the sport it needed to be looked at from a different view.”

Central Issue: Charter Agreements and Renewal Demands

The heart of the case involves the expiration of a 2016 agreement where Nascar provided each team a “charter”. This system mirrors other professional sports with independent franchises, like the Charlotte Hornets or the Carolina Panthers. The agreement was due to end in 2024 when Nascar demanded teams renew their charters.

Jordan was on the witness stand for an hour and left the court to a media frenzy, with onlookers and reporters clamoring for a view or a photo of the global icon.

Leading the Legal Charge

23XI Racing is leading the full-court press along with another racing team for Nascar to change a operating model Jordan said is unlawful to maintain excessive control.

At issue for Jordan and a fellow team representative, who testified before Jordan, are details from last September. She recounted a frantic and emotional six hours where the sanctioning body told teams they had to sign a charter agreement extension. The document consists of 112 pages detailing pay for chartered teams and a guaranteed entry in Nascar-sponsored races.

Choosing Litigation

Jordan said that 23XI and Front Row Motorsports concluded their sole viable path 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 potential amendments or extension options. Nascar refused to engage, according to his testimony.

The Ultimate Motivation: Winning

But in the end, the pushback against what he saw as a financially unsustainable model was mostly about the familiar goal for Jordan: Success.

“Denny convinced me adding a third car improved our chances to win,” he testified, sharing that he purchased another franchise last year for $28 million despite the uncertainty. “So I dove in.”

Heather Gibbs’ Testimony

Heather Gibbs detailed her request for permanent charters, which she said a formal letter to Nascar. She said the pressure of the signature deadline was problematic.

She said, Joe Gibbs first tried to call and persuade Nascar against forcing signatures, but Nascar’s leader declined the request.

“Please don’t force this on us,” Gibbs recounted was the message to Nascar’s executives. She said France replied, “If I wake up and I have 20 charters, I have 20. If there are 30, that’s the number.”