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NBA Legend Michael Jordan testified in his antitrust lawsuit against NASCAR on Friday, revealing why he decided to sue the sport he said he grew up a fan of.
“Someone had to come forward and challenge the organization to make it understand that this was a real concern from our perspective,” Jordan said.
“I felt that I could challenge NASCAR generally. I felt the sport needed to be looked at from a different perspective.”
Jordan's long-awaited appearance followed dramatic testimony from Heather Gibbs, the daughter-in-law of race team owner Joe Gibbs, about a chaotic six-hour period during which teams had to sign extensions or give up charters that guaranteed income each week throughout NASCAR's 38-race season.
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Michael Jordan (center) and Curtis Polk (left), co-owners of 23XI Racing, watch qualifying next to 23XI Racing President Steve Lauletta (right) for the NASCAR Cup Series Championship on November 9, 2024 in Avondale, Arizona. (AP Photo/John Locher, File)
“This is a document that a business would never sign,” said Heather Gibbs, also a licensed real estate agent. “It was like a gun to your head: If you don’t sign, you have nothing.”
Charters are the equivalent of the franchising model used in other sports. In NASCAR, every leased car is guaranteed a spot in every race, as well as certain payouts for the series. The system was created in 2016, and during more than two years of bitter renewal negotiations, teams pleaded to make the renewable charters permanent to ensure revenue stability.
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Michael Jordan, NBA Hall of Famer and co-owner of 23XI Racing, during the NASCAR Cup Series FireKeepers Casino 400 at Michigan International Speedway on August 18, 2024 in Brooklyn, Michigan. (Logan Riley/Getty Images)
When NASCAR refused to make them permanent and gave teams six hours to sign a 112-page extension in September 2024, 23XI and Front Row were the only two organizations out of 15 to refuse. Instead, they filed an antitrust lawsuit, and a trial began Monday on their allegations that NASCAR is a monopolistic bully. 23XI is co-owned by Jordan and three-time Daytona 500 winner Denny Hamlin, while Front Row is owned by fast food franchise owner Bob Jenkins.
Jordan revealed that 23XI bought a third charter in late 2024 for $28 million, even with all the uncertainty.
“I'm pretty sure they know I love to win,” Jordan said. “Denny convinced me that having a third driver would improve our chances of winning, so I dove in.”
Like other witnesses this week, Jordan described NASCAR as refusing to discuss options or potential changes to the charter system it supports. He was asked why 23XI didn't sign an extension last fall.
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“First of all, I didn’t think it was economically viable. Second, it said you couldn't sue NASCAR. I felt this was a violation of antitrust laws. Third, they gave us an ultimatum that I think was unfair to 23XI,” Jordan said.
“I wanted a partnership and permanent charters were not even considered. The fundamentals that the teams wanted, no one from NASCAR even negotiated or compromised. They weren't even open to welcoming these conversations. So that's where we find ourselves.”
Jordan said he owns a 60% stake in 23XI and has invested between $35 million and $40 million in the team, which debuts the cars in 2021. Jenkins said earlier this week that he has not made a profit since starting his team in the early 2000s and estimates he has lost $100 million.
The Associated Press contributed to this report.
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