Stock car racing series, NASCAR, which was accused of monopolistic behaviour in a US federal court by Michael Jordan-owned teams, 23XI Racing and Front Row Motorsports, settled the lawsuit on Thursday, 11 December 2025, after agreeing to make the race charter at the heart of its business model permanent for the teams, reported the news agency AP.
According to the agency report, the financial terms of the settlement were not disclosed, but an economist earlier testified that the two teams owned by NBA icon Michael Jordan owed more than $300 million in damages.
The lawsuit, which was filed by 23XI Racing and Front Row Motorsports, had loomed over NASCAR for more than a year as of the settlement date. The agency report also highlighted that the team owner, Jordan, told the jury how he felt that he was one of the few people who went up to challenge the car racing series.
Michael Jordan, along with co-owner Denny Hamlin of 23XI, and co-owner of Front Row, Bob Jenkings, met the NASCAR Chairman Jim France outside the federal courthouse in Charlotte, North Carolina, United States.
The owners told the reporters that the NASCAR group will make the team charters permanent for all the Cup Series teams, in line with NASCAR’s revenue model.
According to the agency report, both 23XI and Front Row Motorsports will get the charters back after racing uncharted most of this past season.
“Today’s a good day,” Jordan said, cited by the news agency.
NASCAR’s settlement with the petitioners came on the ninth day of the trial before a US federal judge named Kenneth Bell, who set aside the motions for a sidebar.
Last year, both 23XI and Front Row refused to sign their agreements on a new team charter offer, which NASCAR presented to them in September 2024. The new charter guaranteed access to top-level Cup Series races and a revenue stream, and 13 of 15 organisations reluctantly agreed.
Jordan and Jenkins sued the federation instead and raced most of the 2025 season uncharted. Both teams said a loss in the case would have put them out of business.
The judge told the jury that sometimes parties at trial have to see how the evidence unfolds to come to the wisdom of a settlement.
“I wish we could’ve done this a few months ago,” Judge Bell said in court. “I believe this is great for NASCAR. Great for the future of NASCAR. Great for the entity of NASCAR. Great for the teams and ultimately great for the fans.”
(With inputs from news agency AP)
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