NASCAR settles antitrust lawsuit involving Michael Jordan
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23XI Racing, which is owned by basketball Hall of Famer Jordan, three-time Daytona 500 winner Denny Hamlin, and Jordan’s financial adviser, Curtis Polk, and Front Row Motorsports, owned by Bob Jenkins, were the only two teams out of 15 organizations that refused to sign. They sued instead.
On Day 8 of the trial, France explained his reasoning for resisting permanent charters to teams as the plaintiffs wrapped up their case.
The trial might have concluded in a settlement Thursday. But the effects of this legal battle will endure in NASCAR’s world for a long time.
Michael Jordan and Jim France stood opposed for over a year. On Thursday, they were united, "moving forward instead of moving separately."
France, the final witness called by Kessler — who represents Michael Jordan’s 23XI Racing and Front Row Motorsports, the two teams who refused to sign the latest charter deal that is at the heart of this dispute and instead decided to sue NASCAR and France — was set up to give crucial testimony in a trial that had been building to this moment.
NASCAR Chairman Jim France remained steadfast in his refusal to change NASCAR's Charter Agreement, and team owner Richard Childress testied in the NASCAR Trial on Dec. 9.
NASCAR President Steve O’Donnell took the stand early Thursday morning in a North Carolina federal courtroom and admitted CEO Jim France was not open to a new business model.