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Michael Jordan and NASCAR settled a federal antitrust lawsuit Thursday accusing the racing league of being a “monopolistic bully.” NASCAR has agreed to make permanent the charters at the heart of its business model for Cup Series teams.
The dispute had been going on for over a year as Jordanian team 23XI Racing competed without a charter for much of that time. Now 23XI Racing and Front Row Motorsports, the two plaintiffs, will get their charters back after racing most of last season without cards.
Financial terms of the settlement were not disclosed, but an economist said earlier that 23XI and Front Row were owed more than $300 million in damages.
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Michael Jordan, center, and Curtis Polk, left, co-owners of 23XI Racing, look on during qualifying alongside 23XI Racing President Steve Lauletta, right, for a NASCAR Cup Series championship auto race on November 9, 2024, in Avondale, Arizona. (AP Photo/John Locher)
“Today is a good day,” Jordan said.
The settlement came on the ninth day of a trial before U.S. District Judge Kenneth Bell, who canceled the motions hearing for an hour.
Front Row and 23XI filed their suit last year after refusing to sign agreements on new NASCAR lease deals presented in September 2024. Teams had until the end of a day to sign the 112-page document, which guarantees access to top-tier Cup Series races and a revenue stream, and 13 of the 15 organizations reluctantly agreed. Jordan and Jenkins instead filed a lawsuit and raced most of the 2025 season uncharted.
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Team 23Xi co-owner Michael Jordan with Denny Hamlin on pit road before qualifying for the NASCAR Cup Series Ally 400 on June 24, 2023, at Nashville SuperSpeedway in Lebanon, Tennessee. (Jeff Robinson/Icon Sportswire via Getty Images)
Both teams said a loss in that deal would have bankrupted them.
“What all parties have always agreed upon is a deep love for this sport and a desire to see it realize its full potential,” NASCAR and the plaintiffs said in a joint statement. “This is a historic moment, one that ensures that NASCAR’s foundations are stronger, its future is brighter and its possibilities are greater.”
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23XI Racing co-owners Denny Hamlin and Michael Jordan speak on the grid after the NASCAR Cup Series YellaWood 500 at Talladega Superspeedway on October 6, 2024, in Talladega, Alabama. (Chris Graythen/Getty Images)
All teams felt the previous revenue-sharing agreement was unfair, and more than two years of tough negotiations led to NASCAR’s final offer, which was described by the teams as “take it or leave it.” The teams believed that the new agreement did not meet their four main demands, notably that the charters become permanent instead of being renewable.
The settlement follows eight days of testimony during which the Florida-based French family, the founders and private owners of NASCAR, were adamant about the sustainability of the charters.
