🔗 Share this article

The basketball icon, introducing himself formally in a federal courtroom on Friday, stated that his competitive side and novelty within the sport emboldened his push for 23XI Racing to confront Nascar over perceived violations of antitrust rules.

Financial Stakes and a Will to Win

The owner disclosed financial and corporate details of his racing venture, revealing he put in $40m of his personal wealth into the Cup Series operation co-founded with partner Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said during testimony. “I was a new person, I had no fear. I believed I could take on Nascar as a whole. From my perspective, the sport it needed to be looked at through a new lens.”

The Core Dispute: Charter Agreements and Contract Pressure

The heart of the case involves the end of a 2016 deal where Nascar provided each team a “charter”. The concept is similar to other professional sports with separately owned franchises, like the Charlotte Hornets or the Carolina Panthers. This deal was set to expire in 2024 when Nascar insisted on teams renew their charters.

Jordan was on the witness stand for about sixty minutes and exited the courthouse to a media frenzy, with onlookers and reporters clamoring for a glimpse or a picture of the global icon.

Spearheading the Fight

Jordan’s 23XI is at the forefront of the push along with another racing team for Nascar to overhaul a business model Jordan contended is breaking the law to keep two hands on the wheel.

At issue for Jordan and a fellow team representative, who testified before Jordan, are events from last September. She recounted a hectic and tense six hours where the sanctioning body told teams they must sign a charter agreement extension. This agreement consists of over a hundred pages detailing pay for chartered teams and a guaranteed spot in every race.

A Refusal to Sign

Jordan explained that 23XI and Front Row Motorsports decided their only feasible option was to refuse a signature that extensive document and litigate the matter. All other teams agreed to the terms.

Jordan and co-owner Denny Hamlin reached out to Nascar about possible changes or extension options. Nascar refused to engage, Jordan said.

The Ultimate Motivation: Winning

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

“Denny convinced me getting a third driver boosted our odds of winning,” he testified, sharing that he purchased another franchise last year for $28m amid the legal dispute. “So I took the plunge.”

Heather Gibbs’ Testimony

Gibbs described her push for indefinite franchises, which she said a written letter to Nascar. She said the timing of the signature deadline was problematic.

She said, Joe Gibbs first attempted to call and talk Nascar out of demanding signatures, but Nascar’s leader refused the appeal.

“Don’t do this to us,” Heather Gibbs said was the message to Nascar’s executives. The response was, “Whether I have 20 charters, that’s what I have. If there are 30, that’s the number.”