🔗 Share this article

Michael Jeffrey Jordan, as he cordially introduced himself in a Charlotte court on Friday, admitted that his competitive side and status as a newcomer motivated his push for 23XI Racing to “challenge” Nascar over alleged violations of competition laws.

Financial Stakes and a Will to Win

Jordan shared operational insights of his 23XI team, saying he put in $40 million of his personal wealth into the Cup Series operation co-founded with partner Polk and driver Hamlin.

“It fell to someone to act,” Jordan said in the Charlotte courtroom. “I was a new person, I wasn’t afraid. I believed I could take on Nascar as a whole. I felt as far as the sport it needed to be looked at through a new lens.”

Central Issue: Charter Agreements and Renewal Demands

At issue is the expiration of a 2016 deal where Nascar provided each team a “charter”. The concept is similar to other professional sports with separately owned franchises, like the Charlotte Hornets or the NFL’s Panthers. This deal was set to expire in 2024 when Nascar insisted on charter membership renewals.

Jordan testified for about sixty minutes and left the court to a media frenzy, with onlookers and reporters clamoring for a glimpse or a photo of the global icon.

Leading the Legal Charge

23XI Racing is at the forefront of the push along with another racing team for Nascar to change a operating model Jordan said is unlawful to keep two hands on the wheel.

For Jordan and and Heather Gibbs, who preceded Jordan, are events from last September. Gibbs described a hectic and tense period where the racing circuit told teams they must sign a charter agreement extension. This agreement spanned over a hundred pages outlining pay for chartered teams and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan said that his team and its ally concluded their sole viable path was to refuse a signature that 112-page package and take the issue to court. The other 13 organizations signed the agreement.

Jordan and co-owner Denny Hamlin reached out to Nascar about possible changes or negotiations. Nascar refused to engage, according to his testimony.

The Bottom Line: Winning

But in the end, the resistance against what he saw as a unsustainable system was driven by the usual bottom line for Jordan: Success.

“Hamlin persuaded me adding a third car boosted our odds of winning,” he said, noting that he purchased another franchise last year for $28m amid the legal dispute. “So I took the plunge.”

Account from the Gibbs Family

Gibbs described her push for indefinite franchises, which she said a written letter to Nascar. She testified the timing of the signature deadline was problematic.

She said, the team founder first attempted to call and persuade Nascar against demanding signatures, but Nascar’s leader declined the request.

“Please don’t force this on us,” Heather Gibbs said was the message to Nascar’s leadership. The response was, “Whether I have 20 charters, I have 20. If there are 30, that’s the number.”