CHARLOTTE, N.C. (AP) 鈥� Michael Jordan and NASCAR chairman Jim France stood side-by-side on the steps of a federal courthouse as if they were old friends following a stunning settlement Thursday of a bruising in which the Basketball Hall of Famer was the lead plaintiff in a lawsuit accusing the top racing series in the United States of being a monopolistic bully.
The duo was flanked by three-time Daytona 500 winner and Curtis Polk, the co-owners of 23XI Racing with Jordan, Front Row Motorsports owner and over a dozen lawyers as they celebrated the end to an eight-day trial that ultimately led NASCAR to cave and grant all its teams the permanent charters they wanted.
鈥淟ike two competitors, obviously we tried to get as much done in each other鈥檚 favor,鈥� Jordan said, towering over the 81-year-old France. 鈥淚鈥檝e said this from Day 1: The only way this sport is going to grow is we have to find some synergy between the two entities. I think we鈥檝e gotten to that point, unfortunately it took 16 months to get here, but I think level heads have gotten us to this point where we can actually work together and grow this sport. I am very proud about that and I think Jim feels the same.鈥�
France concurred.
鈥淚 do feel the same and we can get back to focusing on what we really love, and that鈥檚 racing, and we spent a lot of time not really focused on that so much as we needed to be,鈥� France said. 鈥淚 feel like we made a very good decision here together and we have a big opportunity to continue growing the sport.鈥�
A charter is the equivalent of the franchise model used in other sports and in NASCAR it guarantees 36 teams a spot in every top-level Cup Series race and a fixed portion of the revenue stream. The system was implemented in 2016 and teams have argued for over two years that the charters needed to be made permanent 鈥� they had been revokable by NASCAR 鈥� and the revenue sharing had to change.
NASCAR, founded and privately owned by the Florida-based France family, never considered . Instead, after two-plus years of NASCAR in September 2024 presented a 鈥渢ake-it-or leave-it鈥� final offer that gave teams until end of that day to sign the 112-page document.
23XI and Front Row refused and sued, while 13 other organizations signed but testimony in court revealed many did so 鈥渨ith a gun to our head鈥� because the threat of losing the charters would have put them out of business.
Jordan testified early in the trial that as a new team owner to NASCAR 鈥� 23XI launched in 2021 鈥� he felt he . Eight days of testimony went badly for NASCAR, which when it began to present its case seemed focused more on mitigating damages than it did on proving it did not violate antitrust laws.
Although terms of the settlement were not released 鈥� NASCAR was in the process of scheduling a Thursday afternoon call with all teams to discuss the revenue-sharing model moving forward 鈥� both Jordan and NASCAR said that charters will now be permanent for all teams. 23XI and Front Row will receive their combined six charters back for 2026.
An economist previously testified that , and that NASCAR shorted 36 chartered teams $1.06 billion from 2021-24.
鈥淭oday鈥檚 a good day,鈥� Jordan said from the front-row seat he’s occupied since the trial began Dec. 1 as he waited for the settlement announcement.
U.S. District Judge Kenneth Bell, who had presided over two days of failed settlement talks before the trial began, echoed the sentiment. Bell told the jury that sometimes parties at trial have to see how the evidence unfolds to come to the wisdom of a settlement.
鈥淚 wish we could鈥檝e done this a few months ago,鈥� Bell said in court. 鈥淚 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.鈥�
The settlement came after two days of testimony by France and the Wednesday night public release of a letter from calling for NASCAR Commissioner Steve Phelps to be removed.
The discovery process revealed internal NASCAR communications in which Phelps called Hall of Fame team owner Richard Childress a 鈥渞edneck鈥� and other derogatory names; Bass Pro sponsors Childress’ teams, as well as some others, and Morris is an ardent NASCAR supporter.
Childress gave fiery testimony earlier this week over his reluctance to sign the charter agreement because it was unfair to the teams, which have been bleeding money and begged NASCAR for concessions. Letters from Hall of Fame team owners Joe Gibbs, Rick Hendrick, Jack Roush and Roger Penske were introduced in which they pleaded with France for charters to become permanent; France testified he was not moved by the men he considers good friends.
Hendrick and Penske, who were both scheduled to testify Friday, expressed gratitude that a settlement had been reached. Penske called it 鈥渢remendous news鈥� and said it cleared the way to continue growing the series.
鈥淢illions of loyal NASCAR fans and thousands of hardworking people rely on our industry, and today鈥檚 resolution allows all of us to focus on what truly matters 鈥� the future of our sport,鈥� Hendrick said. 鈥淭his moment presents an important opportunity to strengthen our relationships and recommit ourselves to building a collaborative and prosperous future for all stakeholders. I鈥檓 incredibly optimistic about what鈥檚 ahead.鈥�
The settlement came abruptly on the ninth day of the trial. Bell opened expecting to hear motions but both sides asked for a private conference in chambers. When they emerged, Bell ordered an hourlong break for the two sides to confer. That turned into two hours, all parties returned to the courtroom and Kessler announced an agreement had been reached.
鈥淲hat all parties have always agreed on is a deep love for the sport and a desire to see it fulfill its full potential,鈥� NASCAR and the plaintiffs said in a joint statement. 鈥淭his is a landmark moment, one that ensures NASCAR鈥檚 foundation is stronger, its future is brighter and its possibilities are greater.鈥�
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