Antitrust lawsuit against Michael Jordan ends in settlement
More than a year later Michael Jordan filed an antitrust suit against NASCARthe case is finally solved.
On Thursday, both sides decided to settle, according to the Associated Press/ESPN. Finally, the racecar series will make its revenue-sharing charters permanent for all racing teams. Also, Jordan’s racing teams, 23KSI and Front Row Motorsports, will regain their charters after a season without them.
“Today is a good day,” Jordan said.
Terms of the settlement were not disclosed. Jordan filed suit alleging that NASCAR engaged in anti-competitive practices in its charter system. Ultimately, they pushed for a greater share of revenue, greater participation in governance, and permanent charters.
Meanwhile, athletic president Jim France and commissioner Steve Phelps defended their positionclaiming it was fair and helped control costs.
“What all parties have always agreed on is a deep love for the sport and a desire to see it reach its full potential,” NASCAR and prosecutors said in a joint statement. “This is a significant moment, one that ensures NASCAR’s foundation is stronger, its future brighter and its opportunities greater.”
Afterwards, US District Judge Kenneth Bell, who presided over the case, gave his statement.
“I wish we could have done it a few months ago,” Bell said in court. “I believe this is great for NASCAR. Great for the future of NASCAR. Great for the NASCAR entity. Great for the teams and ultimately great for the fans.”
Where are NASCAR and Michael Jordan going?
At a time when sports are struggling, this neighborhood provides some relief. Recently, NASCAR has experienced a significant drop in viewership and financial problems stemming from this lawsuit.
Now, teams can play a greater role in decision-making in partnership with senior executives.
Plus, Jordan can continue to develop his racing team, which includes drivers Bubba Wallace and Tyler Reddick.
2025-12-11 17:32:00
