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

Financial Stakes and a Competitive Drive

The owner disclosed financial and corporate details of his 23XI team, saying he put in $40 million of his own funds into the Nascar Cup series team co-founded with business partner Curtis Polk and longtime driver Denny Hamlin.

“It fell to someone to act,” Jordan said in the Charlotte courtroom. “As a newcomer, I wasn’t afraid. I felt I could challenge Nascar in its entirety. From my perspective, the sport required examination from a different view.”

The Core Dispute: Charter Agreements and Renewal Demands

The heart of the case involves the end of a 2016 deal where Nascar granted each team a “charter”. This system mirrors other professional sports with independent franchises, such as the Charlotte Hornets or the Carolina Panthers. The agreement was due to end in 2024 when Nascar demanded teams renew their charters.

Jordan testified for an hour and left the court to a media frenzy, with onlookers and reporters vying for a view or a picture of the global icon.

Spearheading the Fight

Jordan’s 23XI is leading the full-court press along with Front Row Motorsports for Nascar to change a business model Jordan contended is breaking the law to keep two hands on the wheel.

At issue for Jordan and a fellow team representative, who preceded Jordan, are events from September 2024. Gibbs described a frantic and emotional period where the sanctioning body informed teams they had to sign a charter agreement extension. This agreement consists of 112 pages outlining pay for chartered teams and a guaranteed spot in every race.

Choosing Litigation

Jordan said that his team and its ally concluded their sole viable path was to refuse a signature that 112-page package and litigate the matter. All other teams signed the agreement.

The team owners approached Nascar about potential amendments or negotiations. Nascar wasn’t talking, according to his testimony.

The Bottom Line: Winning

But in the end, the pushback against what he saw as a financially unsustainable model was mostly about the familiar goal for Jordan: Winning.

“Hamlin persuaded me adding a third car improved our chances to win,” he testified, noting that he purchased another franchise late in 2024 for $28 million despite the uncertainty. “So I took the plunge.”

Account from the Gibbs Family

Gibbs described her push for indefinite franchises, submitted in a formal letter to Nascar. She said the pressure of the signature deadline didn’t sit well.

She said, the team founder first attempted to call and talk Nascar out of demanding signatures, but CEO Jim France refused the appeal.

“Don’t do this to us,” Heather Gibbs said was the message to Nascar’s leadership. The response was, “Whether I have 20 charters, that’s what I have. If there are 30, that’s the number.”