🔗 Share this article

The basketball icon, introducing himself formally in a Charlotte court on Friday, admitted that his competitive side and status as a newcomer motivated his effort with 23XI Racing to “challenge” Nascar over perceived violations of competition laws.

Financial Stakes and a Competitive Drive

Jordan shared financial and corporate details of his racing venture, saying he invested $40 million of his personal wealth into the Nascar Cup series team launched with business partner Curtis Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said during testimony. “I was a new person, I had no fear. I believed I could take on Nascar as a whole. I felt as far as the sport required examination from a different view.”

The Core Dispute: Charter Agreements and Renewal Demands

The heart of the case involves the expiration of a 2016 deal where Nascar provided each team a franchise. This system mirrors other professional sports with independent franchises, like the Charlotte Hornets or the NFL’s Panthers. The agreement was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan testified for about sixty minutes and left the court to a media frenzy, with fans and media vying for a view or a photo of the global icon.

Spearheading the Fight

Jordan’s 23XI is at the forefront of the push along with another racing team for Nascar to overhaul a operating model Jordan contended is unlawful to maintain excessive control.

At issue for Jordan and a fellow team representative, who testified before Jordan, are details from last September. Gibbs described a hectic and tense period where the racing circuit told teams they had to sign a charter agreement extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan said that 23XI and Front Row Motorsports decided their sole viable path was to refuse a signature that 112-page package and litigate the matter. All other teams agreed to the terms.

The team owners reached out to Nascar about potential amendments or extension options. Nascar refused to engage, Jordan said.

The Bottom Line: Winning

Ultimately, the resistance against what he saw as a unsustainable system was mostly about the usual bottom line for Jordan: Winning.

“Denny convinced me getting a third driver improved our chances to win,” he said, noting that he purchased another franchise late in 2024 for $28m amid the legal dispute. “So I took the plunge.”

Account from the Gibbs Family

Gibbs described her push for indefinite franchises, submitted in a formal letter to Nascar. She said the timing of the contract signing demand didn’t sit well.

She said, the team founder first tried to call and talk Nascar out of demanding signatures, but CEO Jim France refused the appeal.

“Don’t do this to us,” Heather Gibbs said Joe Gibbs told Nascar’s executives. The response was, “If I wake up and I have 20 charters, I have 20. If I have 30, that’s the number.”