Official announcements or changes in ownership records

Michael Jordan's 23XI Racing and Front Row Motorsports Sue NASCAR and Jim France Over Monopolistic Practices

Oct 2, 2024, 03:03 PM

23XI Racing, co-owned by Michael Jordan and Denny Hamlin, and Front Row Motorsports have jointly filed a federal antitrust lawsuit against NASCAR and its CEO Jim France. The lawsuit, submitted in North Carolina, accuses NASCAR and the France family of monopolistic practices that limit competition and unfairly bind teams to the series, its tracks, and suppliers. The teams allege that NASCAR's control over revenue sharing, track ownership, and the charter system has created an unlawful monopoly that enriches the France family at the expense of teams, drivers, sponsors, and fans. Bob Jenkins and Curtis Polk, representing the teams, cited the charter system dispute as a key issue. Michael Jordan stated, "The way NASCAR is run today is unfair to teams, drivers, sponsors, and fans." The lawsuit seeks a preliminary injunction to allow the teams to compete as chartered teams in 2025 while the case proceeds. Attorney Jeffrey Kessler, representing 23XI and Front Row, emphasized the need for significant changes in NASCAR's operations to ensure fair competition and equitable revenue distribution.