Rick Hendrick expressed optimism about NASCAR’s future following settlement of the antitrust lawsuit filed by 23XI Racing and Front Row Motorsports over charter agreementsRick Hendrick responded to the settlement agreement in a statement on ThursdayRick Hendrick responded to the settlement agreement in a statement on Thursday(Image: Getty)

The NASCAR community collectively exhaled with relief on Thursday following the resolution of the prolonged antitrust battle brought by 23XI Racing and Front Row Motorsports against the sanctioning body.

Initially launched in October 2024, the legal dispute revolved around the most recent charter agreement, which all teams except 23XI and FRM had agreed to before NASCAR’s inflexible September 6 cutoff date. A telling moment was spotted between 23XI co-owner Denny Hamlin and NASCAR chief Jim France immediately after their settlement was reached.

In their complaint, the racing teams alleged “monopolistic” conduct by NASCAR, setting off a complicated legal journey that ultimately resulted in both teams forfeiting their six charters and competing as open entries for most of the campaign.

READ MORE: Michael Jordan shows his true colors with emphatic message to NASCARREAD MORE: Michael Jordan throws shade at his former NBA team during NASCAR trial

NASCAR’s image also suffered significant damage, especially in recent weeks, as internal communications from top officials surfaced, including messages from commissioner Steve Phelps launching vicious attacks against team owner and Hall of Famer Richard Childress, who then threatened his own legal action.

This controversy also prompted a harsh rebuke from Johnny Morris, the founder, majority owner, and CEO of longtime NASCAR sponsor Bass Pro Shops. During the 13-day court proceedings, it became apparent that both Joe Gibbs Racing and Childress’ operation, RCR, had also been reluctant to sign the charter deal, ultimately feeling they had no choice with NASCAR appearing unwilling to bargain.

Another team owner who had voiced reservations about the agreement was Rick Hendrick of Hendrick Motorsports, who penned a letter to NASCAR CEO Jim France outlining his concerns. Now that an agreement has been finalized, which features “evergreen” charters, Hendrick has issued a statement sharing his enthusiasm for the path forward after a settlement came before he was called to give testimony in the trial.

“Millions of loyal NASCAR fans and thousands of hardworking people rely on our industry, and today’s resolution allows all of us to focus on what truly matters – the future of our sport,” Hendrick wrote.

Michael Jordan is the co-owner of 23XI Racing and was in court throughout the trialMichael Jordan is the co-owner of 23XI Racing and was in court throughout the trial(Image: Getty)

“For more than 40 years, NASCAR racing has been my passion. I believe deeply in what we can accomplish when we work together. This moment presents an important opportunity to strengthen our relationships and recommit ourselves to building a collaborative and prosperous future for all stakeholders.

“I’m incredibly optimistic about what’s ahead. When our industry is united, there’s no limit to how far we can go or how much we can grow the sport we love.”

With “evergreen” charters now established, teams can count on their positions being secured on what amounts to a permanent foundation, with charters no longer scheduled to lapse in conjunction with media rights agreements as occurred before.

Nevertheless, as was emphasized in a joint announcement following confirmation of the agreement, “The financial terms of the settlement are confidential and will not be released.”

Judge Kenneth Bell, who oversaw the frequently contentious proceedings, praised both parties for reaching a settlement. He described it as simply “the right thing to do,” and added his belief that “this is going to be great for the entity NASCAR, the industry NASCAR, the teams, the drivers, and as you have so often said yourselves, ultimately the fans.”