Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, stated that his drive to win and status as a newcomer motivated his push for 23XI Racing to “challenge” Nascar over perceived violations of competition laws.
The owner disclosed operational insights of his racing venture, revealing he put in $40m of his personal wealth into the Cup Series operation co-founded with partner Polk and longtime driver Denny Hamlin.
“Someone had to step forward,” Jordan stated during testimony. “I was a new person, I wasn’t afraid. I felt I could challenge Nascar as a whole. From my perspective, the sport required examination through a new lens.”
The heart of the case involves the expiration of a 2016 agreement where Nascar granted each team a franchise. The concept is similar to other major leagues with independent franchises, like the Charlotte Hornets or the NFL’s Panthers. The agreement was set to expire in 2024 when Nascar insisted on charter membership renewals.
Jordan testified for an hour and left the court to pandemonium, with fans and media clamoring for a view or a picture of the sports legend.
Jordan’s 23XI is leading the full-court press along with Front Row Motorsports for Nascar to change a operating model Jordan contended is unlawful to keep two hands on the wheel.
For Jordan and and Heather Gibbs, who preceded Jordan, are details from September 2024. She recounted a hectic and tense six hours where the sanctioning body told teams they had to sign a contract extension. The document spanned 112 pages outlining pay for chartered teams and a guaranteed spot in every race.
Jordan explained that 23XI and Front Row Motorsports concluded their sole viable path was to refuse a signature that 112-page package and take the issue to court. The other 13 organizations agreed to the terms.
The team owners reached out to Nascar about possible changes or extension options. Nascar refused to engage, Jordan said.
But in the end, the resistance against what he saw as a financially unsustainable model was driven by the familiar goal for Jordan: Winning.
“Hamlin persuaded me adding a third car boosted our odds of winning,” he testified, sharing that he purchased another franchise last year for $28m despite the uncertainty. “So I dove in.”
Gibbs described her request for permanent charters, submitted in a formal letter to Nascar. She said the timing of the contract signing demand didn’t sit well.
According to her, Joe Gibbs first attempted to call and talk Nascar out of forcing signatures, but CEO Jim France declined the request.
“Don’t do this to us,” Heather Gibbs said Joe Gibbs told Nascar’s executives. She said France replied, “If I wake up and I have 20 charters, that’s what I have. If I have 30, I have 30.”
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