The basketball icon, introducing himself formally in a federal courtroom on Friday, admitted that his competitive side and novelty within the sport emboldened his effort with 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.
The owner disclosed financial and corporate details of his racing venture, revealing he invested $40 million of his own funds into the Cup Series operation co-founded 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 wasn’t afraid. I felt I could challenge Nascar as a whole. I felt as far as the sport it needed to be looked at from a different view.”
At issue is the end of a 2016 agreement where Nascar granted each team a “charter”. This system mirrors other major leagues with separately owned franchises, such as the Charlotte Hornets or the Carolina Panthers. The agreement was set to expire in 2024 when Nascar demanded charter membership renewals.
Jordan was on the witness stand for about sixty minutes and left the court to a media frenzy, with onlookers and reporters clamoring for a view or a photo of the global icon.
23XI Racing is at the forefront of the push along with Front Row Motorsports for Nascar to change a operating model Jordan contended is unlawful to maintain excessive control.
For Jordan and and Heather Gibbs, who preceded Jordan, are details from last September. Gibbs described a hectic and tense period where the sanctioning body told teams they must sign a charter agreement extension. The document consists of 112 pages outlining pay for chartered teams and a guaranteed entry in Nascar-sponsored races.
Jordan said that his team and its ally concluded their sole viable path was to decline to sign that extensive document and take the issue to court. The other 13 organizations agreed to the terms.
Jordan and co-owner Denny Hamlin approached Nascar about potential amendments or extension options. Nascar refused to engage, according to his testimony.
Ultimately, the resistance against what he saw as a unsustainable system was mostly about the familiar goal for Jordan: Winning.
“Hamlin persuaded me adding a third car boosted our odds of winning,” he testified, sharing that he bought a third charter late in 2024 for $28m amid the legal dispute. “So I took the plunge.”
Gibbs described her push for indefinite franchises, submitted in a written letter to Nascar. She said the timing of the contract signing demand didn’t sit well.
She said, the team founder first attempted to call and persuade Nascar against forcing signatures, but CEO Jim France refused the appeal.
“Don’t do this to us,” Heather Gibbs said Joe Gibbs told Nascar’s leadership. She said France replied, “If I wake up and I have 20 charters, I have 20. If there are 30, that’s the number.”
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