NASCAR settles antitrust lawsuit involving Michael Jordan
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Kyle Larson praises NASCAR’s Driver Ambassador Program for helping promote the sport and spotlight its drivers.
NASCAR and two of its Cup Series teams have reached a settlement after nine days of trial, announcing Thursday that they will work together to implement “evergreen charters.”
The idea for NASCAR, as Probst testified, was that this would help keep costs down. Not only would the parts be durable, but the constant hamster wheel of teams testing the parts, improving upon them, making some parts obsolete, investing in new ones, etc., would be more or less eliminated.
When NASCAR returned the All-Star Race to North Wilkesboro Speedway in 2023, the move resonated immediately with fans, drivers, and teams. The response felt like a homecoming, and much of the public credit landed with Dale Earnhardt Jr.
Jenkins, the Front Row Motorsports owner, and NASCAR VP Scott Prime, architect of the sport's charter system, were on the stand Wednesday.
NASCAR is being sued by 23XI Racing, owned by Basketball Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, which is owned by fast-food franchiser Bob Jenkins.
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.
NASCAR Chairman Jim France has testified in the federal antitrust lawsuit filed by Michael Jordan’s 23XI Racing and Front Row Motorsports. The lawsuit challenges NASCAR's revenue-sharing model