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Michael Jeffrey Jordan, as he cordially introduced himself in a Charlotte court on Friday, stated that his competitive side and novelty within the sport motivated his effort with 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, revealing he invested $40m of his personal wealth into the Cup Series operation co-founded with business partner Curtis Polk and driver Hamlin.

“Someone had to step forward,” Jordan said during testimony. “As a newcomer, I had no fear. I believed I could take on Nascar as a whole. From my perspective, the sport it needed to be looked at from a different view.”

The Core Dispute: Charter Agreements and Renewal Demands

At issue is the end of a 2016 deal where Nascar granted each team a franchise. This system mirrors other professional sports with independent franchises, like the Charlotte Hornets or the NFL’s Panthers. The agreement was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan was on the witness stand for an hour and exited the courthouse to pandemonium, with fans and media clamoring for a view or a photo of the sports legend.

Spearheading the Fight

23XI Racing is at the forefront of the push along with Front Row Motorsports for Nascar to change a business model Jordan contended is unlawful to keep two hands on the wheel.

At issue for Jordan and Heather Gibbs, who testified before Jordan, are events from September 2024. She recounted a frantic and emotional six hours where the racing circuit informed teams they must sign a charter agreement extension. The document consists of 112 pages outlining pay for chartered teams and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan explained that his team and its ally decided their only feasible option was to refuse a signature that 112-page package and take the issue to court. All other teams agreed to the terms.

Jordan and co-owner Denny Hamlin reached out to Nascar about possible changes 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.

“Denny convinced me adding a third car boosted our odds of winning,” he testified, noting that he bought a third charter late in 2024 for $28m despite the uncertainty. “So I took the plunge.”

Account from the Gibbs Family

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

According to her, the team founder first tried to call and persuade Nascar against demanding signatures, but CEO Jim France refused the appeal.

“Don’t do this to us,” Gibbs recounted Joe Gibbs told Nascar’s executives. The response was, “Whether I have 20 charters, I have 20. If I have 30, that’s the number.”