NBA legend Michael Jordan, NASCAR settle anti-trust lawsuit
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Jordan’s 23XI Racing and the Front Row Motorsports teams had both sued NASCAR after refusing to sign the circuit’s new charters.
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MIAMI – NBA legend Michael Jordan reached a settlement in his anti-trust case against NASCAR on Thursday, ending a federal lawsuit that had threatened to upend the sport.
Jordan’s 23XI Racing and the Front Row Motorsports teams had both sued NASCAR after refusing to sign the circuit’s new charters, the rules which guarantee teams entry to races and share of prize money.
Front Row and 23XI alleged the charters were unfair and did not give the teams enough rights or money.
The suit accused NASCAR and the racing circuit’s chief executive Jim France of operating without transparency, stifling competition, and controlling the sport in ways that unfairly benefit them at the expense of team owners, drivers, sponsors, partners and fans.
However in a joint statement issued on Thursday, the warring factions announced a settlement had now been reached which would see NASCAR issue an amendment to existing charter holders.
The financial terms of the agreement were not disclosed, but it was confirmed that 23XI and Front Row will be given back three charters for the 2026 season, and that some form of permanent charters will be introduced in the stock-car racing league.
“From the beginning, this lawsuit was about progress,” Jordan, who had testified in court last week after the trial got under way, said in a statement.
“It was about making sure our sport evolves in a way that supports everyone: teams, drivers, partners, employees and fans.
“With a foundation to build equity and invest in the future and a stronger voice in the decisions ahead, we now have the chance to grow together and make the sport even better for generations to come.”
Front Row, meanwhile, added in a lengthy statement that the resolution “reflects our shared commitment to maintaining a fair and equitable framework for long-term participation in America’s premier motorsport”.
“(It is) one that supports teams, partners, and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world,” it said.
Front Row and 23XI were the only two NASCAR teams out of 15 who did not sign the new charters at the heart of the dispute.
NASCAR chief executive France said Thursday’s agreement ensured the future of the circuit for “generations to come.”
“We worked closely with race teams and tracks to create the NASCAR charter system in 2016, and it has proven invaluable to their operations and to the quality of racing across the Cup Series,” France said.
“Today’s agreement reaffirms our commitment to preserving and enhancing that value.” REUTERS
