{"id":112789,"date":"2025-12-05T17:25:49","date_gmt":"2025-12-05T22:25:49","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/michael-jordan-reveals-why-hes-suing-nascar-in-antitrust-case-112789"},"modified":"2025-12-05T17:25:49","modified_gmt":"2025-12-05T22:25:49","slug":"michael-jordan-reveals-why-hes-suing-nascar-in-antitrust-case","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/michael-jordan-reveals-why-hes-suing-nascar-in-antitrust-case-112789","title":{"rendered":"Michael Jordan reveals why he’s suing NASCAR in antitrust case"},"content":{"rendered":"
\n

NBA legend Michael Jordan<\/a> testified in his antitrust lawsuit against NASCAR on Friday, revealing why he decided to take legal action against the sport he says he grew up a fan of.\u00a0<\/p>\n

“Someone had to step forward and challenge the entity to understand that it is a real concern from our aspect,” Jordan said.\u00a0<\/p>\n

“I felt I could challenge NASCAR<\/a> as a whole. I felt, as far as the sport, it needed to be looked at from a different view.”<\/p>\n

Jordan\u2019s highly anticipated appearance followed dramatic testimony from Heather Gibbs, the daughter-in-law of race team owner Joe Gibbs, about the chaotic six-hour period in which teams had to sign an extension or forfeit the charters that guarantee revenue week to week throughout NASCAR\u2019s 38-race season.<\/p>\n

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM<\/u><\/strong><\/a><\/p>\n

“The document was something in business you would never sign,” said Heather Gibbs, also a licensed real estate agent. “It was like a gun to your head: If you don\u2019t sign, you have nothing.”<\/p>\n

Charters are the equivalent of the franchise model used in other sports. In NASCAR, it guarantees every chartered car a spot in every race, plus a defined payout from the series. The system was created in 2016, and during the two-plus years of bitter negotiations on an extension, teams begged for the renewable charters to be made permanent for revenue stability.<\/p>\n

KYLE LARSON STEALS NASCAR CUP SERIES CHAMPIONSHIP, DELIVERS HEARTBREAK FOR DENNY HAMLIN<\/strong><\/a><\/p>\n

When NASCAR refused to make them permanent and gave the teams six hours in September 2024 to sign the 112-page extension, 23XI and Front Row were the only two organizations out of 15 to refuse. They instead filed the antitrust suit, and the trial opened Monday to hear their allegations that NASCAR is a monopolistic bully. 23XI is co-owned by Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row is owned by fast-food franchiser Bob Jenkins.<\/p>\n

Jordan testified that 23XI bought a third charter late in 2024 for $28 million even with all the uncertainty.<\/p>\n

“I\u2019m pretty sure they know I love to win,” Jordan said. “Denny convinced me getting a third driver improved our chances to win, so I dove in.”<\/p>\n

Like other witnesses this week, Jordan described a NASCAR that refused to discuss options or potential changes to the charter system, which he supports. He was asked why 23XI didn\u2019t sign the extensions last fall.<\/p>\n

“One, I didn\u2019t think it was economically viable. Two, it said you could not sue NASCAR. That was an antitrust violation, I felt. Three, they gave us an ultimatum I didn\u2019t think was fair to 23XI,” Jordan said.<\/p>\n

“I wanted a partnership, and permanent charters wasn\u2019t even a consideration. The pillars that the teams wanted, no one on the NASCAR side even negotiated or compromised. They were not even open-minded to welcome those conversations. So, this is where we ended up.”<\/p>\n

Jordan said he owns 60% of 23XI and has invested $35 million to $40 million in the team, which first fielded cars in 2021. Jenkins testified earlier this week he has not turned a profit since launching his team in the early 2000s and estimates he has lost $100 million.<\/p>\n

The Associated Press contributed to this report.\u00a0<\/i><\/p>\n

Follow Fox News Digital\u2019s <\/strong><\/i>sports coverage on X<\/u><\/strong><\/i><\/a> and subscribe to <\/strong><\/i>the Fox News Sports Huddle newsletter<\/u><\/strong><\/i><\/a>.<\/strong><\/i><\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/sports\/michael-jordan-reveals-why-hes-suing-nascar-anti-trust-case <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NBA legend Michael Jordan testified in his antitrust lawsuit against NASCAR on Friday, revealing why he decided to take legal action against the sport he […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-112789","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nMichael Jordan reveals why he's suing NASCAR in antitrust case - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/michael-jordan-reveals-why-hes-suing-nascar-in-antitrust-case-112789\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Jordan reveals why he's suing NASCAR in antitrust case - 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