🔗 Share this article

Michael Jeffrey Jordan, as he cordially introduced himself in a federal courtroom on Friday, admitted that his drive to win and status as a newcomer motivated his effort with 23XI Racing to confront Nascar over alleged violations of competition laws.

Financial Stakes and a Will to Win

The owner disclosed operational insights of his racing venture, saying he invested $40m of his personal wealth into the Cup Series operation launched with partner 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.”

Central Issue: Charter Agreements and Renewal Demands

At issue is the end of a 2016 deal 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 exited the courthouse to pandemonium, 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 another racing team for Nascar to change a business model Jordan said is unlawful to keep two hands on the wheel.

For Jordan and and a fellow team representative, who preceded Jordan, are details from September 2024. She recounted a frantic and emotional six hours where the sanctioning body told teams they had to sign a charter agreement extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed spot in every race.

A Refusal to Sign

Jordan said that his team and its ally decided their only feasible option was to decline to sign that extensive document and litigate the matter. All other teams signed the agreement.

Jordan and co-owner Denny Hamlin reached out to Nascar about potential amendments or extension options. Nascar refused to engage, according to his testimony.

The Ultimate Motivation: Victory

Ultimately, the pushback against what he saw as a financially unsustainable model was driven by the familiar goal for Jordan: Success.

“Denny convinced me getting a third driver boosted our odds of winning,” he said, sharing that he purchased another franchise late in 2024 for $28 million despite the uncertainty. “So I dove in.”

Heather Gibbs’ Testimony

Gibbs described her request for permanent charters, which she said a written letter to Nascar. She said the timing of the signature deadline didn’t sit well.

According to her, Joe Gibbs first tried to call and persuade Nascar against forcing signatures, but Nascar’s leader declined the request.

“Don’t do this to us,” Gibbs recounted Joe Gibbs told Nascar’s leadership. She said France replied, “If I wake up and I have 20 charters, that’s what I have. If I have 30, that’s the number.”