"Nascar reached a settlement Thursday of the bruising antitrust lawsuit filed against the stock car series by two of its race teams, including one co-owned by NBA great Michael Jordan. Today's a good day, Jordan said as he waited in the gallery for attorneys to announce the deal. Details were not immediately released. The settlement came on the ninth day of the trial before US district judge Kenneth Bell, who set aside motions hearing for an hour-long sidebar."
"23XI and Front Row filed their lawsuit last year after refusing to sign agreements on the new charter offers Nascar presented in September 2024. Teams had until end of day to sign the 112-page document, which guarantees access to top-level Cup Series races and a revenue stream, and 13 of 15 organizations reluctantly agreed. Jordan and Jenkins sued instead and raced most of the 2025 season uncharted."
"Both teams said a loss in the case would have put them out of business. Bell told the jury that sometmes parties at trial have to see how the evidence unfolds to come to the wisdom of a settlement. I wish we could've done this a few months ago, Bell said in court. I believe this is great for Nascar. Great for the future of Nascar. Great for the entity of Nascar. Great for the teams and ultimately great for the fans."
NASCAR and two race teams, including Michael Jordan's 23XI Racing, reached a settlement in an antitrust lawsuit over new charter agreements. The settlement occurred on the ninth day of trial before US District Judge Kenneth Bell, after an hour-long sidebar and additional talks led by attorney Jeffrey Kessler. The teams sued after refusing to sign September 2024 charter offers described as a take-it-or-leave-it 112-page document that guaranteed race access and revenue; 13 of 15 teams signed. Jordan and Front Row Motorsports raced much of 2025 uncharted and said a loss could have put them out of business. Judge Bell characterized the settlement as beneficial for NASCAR, teams, and fans.
Read at www.theguardian.com
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