🔗 Share this article

Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, admitted that his competitive side and status as a newcomer emboldened his effort with 23XI Racing to “challenge” Nascar over alleged violations of antitrust rules.

Team Investment and a Competitive Drive

The owner disclosed financial and corporate details of his racing venture, revealing he invested $40 million of his personal wealth into the Nascar Cup series team launched with business partner Curtis Polk and driver Hamlin.

“Someone had to step forward,” Jordan said during testimony. “I was a new person, I wasn’t afraid. I believed I could take on Nascar in its entirety. From my perspective, the sport it needed to be looked at from a different view.”

Central Issue: Charter Agreements and Contract Pressure

At issue is the end of a 2016 agreement where Nascar provided each team a franchise. This system mirrors other professional sports with separately owned franchises, like the NBA’s Hornets or the Carolina Panthers. This deal was due to end in 2024 when Nascar insisted on charter membership renewals.

Jordan was on the witness stand for about sixty minutes and left the court to pandemonium, with onlookers and reporters vying for a view or a picture of the sports legend.

Leading the Legal Charge

Jordan’s 23XI is leading the full-court press along with another racing team for Nascar to overhaul a business model Jordan said is breaking the law to maintain excessive control.

For Jordan and and Heather Gibbs, who testified before Jordan, are details from September 2024. Gibbs described a frantic and emotional six hours where the sanctioning body informed teams they had to sign a contract extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed entry in every race.

A Refusal to Sign

Jordan explained that his team and its ally concluded their sole viable path was to decline to sign that extensive document and litigate the matter. All other teams agreed to the terms.

The team owners reached out to Nascar about potential amendments or negotiations. Nascar refused to engage, according to his testimony.

The Ultimate Motivation: Victory

But in the end, the resistance against what he saw as a financially unsustainable model was driven by the familiar goal for Jordan: Winning.

“Denny convinced me getting a third driver boosted our odds of winning,” he said, noting that he bought a third charter late in 2024 for $28 million amid the legal dispute. “So I dove in.”

Heather Gibbs’ Testimony

Heather Gibbs detailed her request for permanent charters, which she said a written letter to Nascar. She testified the pressure of the signature deadline was problematic.

According to her, Joe Gibbs first attempted to call and talk Nascar out of demanding signatures, but CEO Jim France declined the request.

“Don’t do this to us,” Heather Gibbs said was the message to Nascar’s leadership. She said France replied, “Whether I have 20 charters, I have 20. If I have 30, I have 30.”