{"id":347819,"date":"2025-12-16T00:29:32","date_gmt":"2025-12-16T00:29:32","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/347819\/"},"modified":"2025-12-16T00:29:32","modified_gmt":"2025-12-16T00:29:32","slug":"michael-jordan-nascar-settle-antitrust-dispute-as-questions-remain","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/347819\/","title":{"rendered":"Michael Jordan, NASCAR Settle Antitrust Dispute as Questions Remain"},"content":{"rendered":"

\n\tA settlement between NASCAR<\/a>, Front Row Motorsports and 23XI Racing\u2014which is co-owned by Michael Jordan<\/a>, Denny Hamlin<\/a> and Curtis Polk\u2014was always the most likely outcome in this antitrust<\/a> litigation, but it took over a week of trial to make it happen.<\/p>\n

\n\tAs\u00a0reported<\/a>\u00a0by Jeff Gluck and other journalists who are in federal district court in Charlotte, N.C., 23XI and Front Row lead attorney Jeffrey Kessler announced to U.S. District Judge Kenneth D. Bell that \u201cthe parties have positively settled this matter in a way that will benefit the industry going forward.\u201d Kessler said details would be forthcoming, as Bell will need to approve the dismissal of the lawsuit.<\/p>\n

\n\tThe trial began on Dec. 1 and was expected to last several more days, during which NASCAR would have expanded on its defenses.\u00a0<\/p>\n

\n\tTerms of the settlement will be crucial to unpacking how it will impact the relationship between NASCAR and its teams.\u00a0<\/p>\n

\n\tThe parties issued a joint statement to the media saying their resolution \u201csupports teams, partners and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world.\u201d <\/p>\n

\n\tThey also say their deal \u201callows all parties to move forward with a unified focus on advancing stock car racing and delivering exceptional competition for our fans.\u201d<\/p>\n

\n\tThe statement went on to reference a specific change, namely that NASCAR \u201cwill issue an amendment to existing charter holders detailing the updated terms for signature, which will include a form of \u2018evergreen\u2019 charters, subject to mutual agreement.\u201d <\/p>\n

\n\tHowever, the statement declined to clarify how this amendment will work beyond that general description and noted terms of the settlement are confidential.\u00a0<\/p>\n

\n\tThe key figures from the dispute offered statements, as well. Jordan said the lawsuit \u201cwas about progress\u201d and Hamlin added, \u201cteams, drivers and partners will now have the stability and opportunity they deserve.\u201d NASCAR CEO Jim France stated, \u201cthis outcome gives all parties the flexibility and confidence to continue delivering unforgettable racing moments for our fans.\u201d<\/p>\n

\n\tIn his own statement, Kessler revealed that \u201c23XI\u2019s and Front Row Motorsports\u2019 charters have been returned for the 2026 season.\u201d<\/p>\n

\n\tWhile many details of the settlement remain shielded for the time being, the value of finality is worth emphasizing.\u00a0<\/p>\n

\n\tHad the two sides continued the trial and the jury rendered a verdict, the loser would have appealed to the U.S. Court of Appeals for the Fourth Circuit. An appeal could have taken over a year, and the loser of the appeal could have then petitioned the U.S. Supreme Court. There might not have been finality until 2027 or 2028, which means a cloud of uncertainty would have hung not only over NASCAR, 23XI and Front Row, but also the 13 teams that signed charters and other industry members including drivers, racetracks, sponsors and broadcasters. A settlement, no matter its terms, extinguishes that risk and will provide a reliable set of rules for the industry.<\/p>\n

\n\tThe case has centered on 23XI and Front Row depicting NASCAR as suppressing competition in their business relations with premier stock\u2011car racing teams. Central to the case has been charters, the multiyear contracts between NASCAR and teams. Charters provide a starting position in NASCAR\u2011sanctioned races but include non-compete language and mutual releases of claims.\u00a0<\/p>\n

\n\tNASCAR has argued charters provide a sensible and pro-competitive framework for teams and have surged in value in recent years to the benefit of owners. The two sides have offered wildly different assessments of economic issues in motor sports, with 23XI and Front Row claiming NASCAR owes hundreds of millions of dollars in damages to teams, while NASCAR insisting the charter relationship has supplied a similar value to teams and accusing Jordan\u2019s group of trying to awkwardly fit motorsports into the NBA model of team ownership.<\/p>\n

\n\tJordan testified during the trial, telling jurors that, in his view, NASCAR\u2019s charter system is unfair and anticompetitive. The billionaire former owner of the Charlotte Hornets and, in the view of many, the greatest basketball player of all time, said he \u201cwasn\u2019t afraid\u201d to take on NASCAR.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"A settlement between NASCAR, Front Row Motorsports and 23XI Racing\u2014which is co-owned by Michael Jordan, Denny Hamlin and…\n","protected":false},"author":2,"featured_media":347820,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[446],"tags":[4997,49,48,3932,3004,634,82],"class_list":["post-347819","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nascar","tag-antitrust","tag-ca","tag-canada","tag-denny-hamlin","tag-michael-jordan","tag-nascar","tag-sports"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/347819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=347819"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/347819\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/347820"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=347819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=347819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=347819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}