According to reliable reports, NBA legend Michael Jordan is suing Jim France, the CEO of NASCAR, and the race car company, NASCAR, calling them “monopolistic bullies.”
Yesterday, October 2, Jordan’s 23XI Racing and Front Row Motorsports filed a complaint in a federal court in North Carolina. The teams claim they were not willing to sign new contracts with NASCAR because of “unfair terms.”
When it came to extending their charter agreements into 2024, both clubs wanted more, but neither France nor MASCAR were prepared to compromise on their revenue split. Both teams contend that they were coerced by the organization to accept a “take-it-or-leave-it” offer, warning them that rejecting it would mean losing their charters in the future.
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By signing France’s paper, both teams filed a lawsuit and an order permitting them to participate in the 2025 season without relinquishing their antitrust claims.
Both teams declared their intention to impede the “unlawful monopoly power” held by NASCAR and France.
Regarding the complaint, Jordan said in a statement, “I love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair to teams, drivers, sponsors, and fans.” My actions today demonstrate my willingness to battle for a cutthroat market where everyone benefits.
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“When I look around, I see that the best and most competitive sports in the world understand that when teams thrive, fans benefit, and that everyone who invests in making the sport a success should share fairly in that success,” stated Denny Hamlin, a co-owner of Jordan’s 23XI Racing. We can definitely make such a reality in racing with the appropriate adjustments.”
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