NBA legend Michael Jordan testified before a packed courtroom on Friday as part of the landmark NASCAR antitrust case against the National Association for Stock Car Auto Racing (NASCAR). The 6-time NBA champion, who co-owns team 23XI with Denny Hamlin, outlined why his team joined forces with Front Row Motorsports to sue the top auto racing series in the US.
Jordan's testimony followed dramatic evidence from Heather Gibbs, the daughter-in-law of NASCAR team owner Joe Gibbs. Gibbs recounted a chaotic six-hour period in which teams had to sign an extension or forfeit charters that guarantee revenue week-to-week throughout NASCAR's 38-race season. The system, introduced in 2016, was created to ensure financial stability for teams but has been criticized as unsustainable.
According to Jordan, his team bought a third charter late last year for $28 million, despite the uncertainty surrounding the case. He explained that he owns 60% of 23XI and has invested $35 million to $40 million in the team, citing his desire to win as a driving factor.
Jordan described NASCAR's refusal to discuss options or potential changes to the charter system, which he supports. He claimed that teams like his own were forced into an ultimatum by NASCAR, making it impossible for them to negotiate on their own terms.
The 7-time NBA champion likened the situation to the NBA business model, where teams share approximately half of their revenue with players. He argued that NASCAR's current system is too uneven and lacks a shared responsibility for growth as well as loss.
Jordan also compared the financial struggles faced by his team to those experienced by other NASCAR organizations. He pointed out that NASCAR President Steve O'Donnell testified that four-time series champion Jeff Gordon asked specifically if the France family was "open to a new model" during an initial meeting, only to be met with opposition from Chairman France.
The trial has centered on the teams' allegations of monopolistic behavior by NASCAR and their demands for financial stability. Teams have argued that they were forced into signing an extension with little room for negotiation, despite knowing it would mean giving up a portion of their revenue.
Judge Kenneth Bell has been monitoring the slow pace of the trial, which was initially expected to take two weeks but is now likely to last three weeks. The judge warned both sides against stretching the trial further and urged them to push the witness presentation along at a faster clip.
Jordan's testimony followed dramatic evidence from Heather Gibbs, the daughter-in-law of NASCAR team owner Joe Gibbs. Gibbs recounted a chaotic six-hour period in which teams had to sign an extension or forfeit charters that guarantee revenue week-to-week throughout NASCAR's 38-race season. The system, introduced in 2016, was created to ensure financial stability for teams but has been criticized as unsustainable.
According to Jordan, his team bought a third charter late last year for $28 million, despite the uncertainty surrounding the case. He explained that he owns 60% of 23XI and has invested $35 million to $40 million in the team, citing his desire to win as a driving factor.
Jordan described NASCAR's refusal to discuss options or potential changes to the charter system, which he supports. He claimed that teams like his own were forced into an ultimatum by NASCAR, making it impossible for them to negotiate on their own terms.
The 7-time NBA champion likened the situation to the NBA business model, where teams share approximately half of their revenue with players. He argued that NASCAR's current system is too uneven and lacks a shared responsibility for growth as well as loss.
Jordan also compared the financial struggles faced by his team to those experienced by other NASCAR organizations. He pointed out that NASCAR President Steve O'Donnell testified that four-time series champion Jeff Gordon asked specifically if the France family was "open to a new model" during an initial meeting, only to be met with opposition from Chairman France.
The trial has centered on the teams' allegations of monopolistic behavior by NASCAR and their demands for financial stability. Teams have argued that they were forced into signing an extension with little room for negotiation, despite knowing it would mean giving up a portion of their revenue.
Judge Kenneth Bell has been monitoring the slow pace of the trial, which was initially expected to take two weeks but is now likely to last three weeks. The judge warned both sides against stretching the trial further and urged them to push the witness presentation along at a faster clip.
he's low-key killing it out there, talking about how teams are being forced into this super unsustainable charter system that's like, super unfair to everyone involved 
and i'm totally with him on this - 23XI shouldn't have had to shell out $28 million just for a third charter 
the fact that nascar is refusing to budge on changes to the system is straight up crazy 
jordan's comparison to the nba business model is SO on point too 
gotta say, i'm hyped to see how this trial unfolds 
! As a basketball fan, it's crazy to see him go up against NASCAR like this. I mean, who knew he was a team owner now? 
! I'm excited to see how it all plays out. One thing's for sure: Michael Jordan isn't messing around 
. He's got some serious game when it comes to arguing his case, even if he did have to shell out that huge sum for the charter 
.
NASCAR drama alert 
Like, who wouldn't want a fair share of revenue? 
Jordan compared it to the NBA business model, where teams share revenue with players 
And honestly, that sounds way more reasonable 
Where one team gets all the power and control 
Meanwhile, smaller teams are just trying to survive 
Other NASCAR orgs have been struggling financially too 
This trial is gonna be a wild ride 
I think it's kinda weird that teams have to sign an extension or forfeit charters, it sounds like NASCAR is trying to control everything and teams are just along for the ride 
. The whole situation with Jeff Gordon asking if the France family was open to a new model and getting shut down doesn't help either 
.
. The trial is going to be super long, but I hope they can finally figure out something that works for everyone 
. I mean, who wouldn't want to see the financial struggles teams face when it comes to signing those charters? It's like they're being forced to take a really big pay cut 
. And Jordan making that point about how the system benefits teams but also puts them at risk of losing revenue? 
. Can't wait to see how it all unfolds and whether we'll get to see some positive changes in NASCAR 
️
. The fact that teams have to sign an extension or forfeit charters is basically like being forced into a contract you don't want 
. I'm low-key glad he's speaking out and sharing his thoughts on this one 
. And can we talk about how the financial struggles are affecting teams? It's like, they're already in it to win it, but then NASCAR throws more money at them just to keep them from leaving 
and now he's saying nascar's charter system is too uneven? like he gets it from the nba where teams share revenue with players... 
. It's like he forgot that his team co-owns 23XI, not just him being some wise NASCAR guru 
.