🔗 Share this article

The basketball icon, 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 confront Nascar over alleged violations of competition laws.

Financial Stakes and a Will to Win

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

“It fell to someone to act,” Jordan said during testimony. “As a newcomer, I wasn’t afraid. I felt I could challenge Nascar in its entirety. From my perspective, the sport it needed to be looked at through a new lens.”

Central Issue: Charter Agreements and Renewal Demands

At issue is the end of a 2016 agreement where Nascar provided each team a franchise. This system mirrors other major leagues with independent franchises, such as the NBA’s Hornets or the NFL’s 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 a media frenzy, with fans and media clamoring for a glimpse or a picture of the global icon.

Leading the Legal Charge

Jordan’s 23XI is at the forefront of the push along with Front Row Motorsports for Nascar to overhaul a operating model Jordan said is unlawful to keep two hands on the wheel.

At issue for Jordan and a fellow team representative, who preceded Jordan, are events from last September. She recounted a hectic and tense six hours where the sanctioning body told teams they must sign a charter agreement extension. The document spanned over a hundred pages outlining team compensation and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan explained that his team and its ally concluded their only feasible option was to decline to sign that extensive document and take the issue to court. All other teams signed the agreement.

Jordan and co-owner Denny Hamlin reached out to Nascar about potential amendments or extension options. Nascar wasn’t talking, 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 usual bottom line for Jordan: Success.

“Denny convinced me adding a third car improved our chances to win,” he said, noting that he bought a third charter last year for $28m 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 said the timing of the signature deadline was problematic.

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

“Please don’t force this on us,” Heather Gibbs said was the message to Nascar’s executives. The response was, “Whether I have 20 charters, I have 20. If there are 30, I have 30.”