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Jordan praises ‘level heads’ for acting in best interest of the sport with lawsuit settlement

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Michael Jordan said it was “level heads” that led to Thursday’s settlement agreement between 23XI Racing, Front Row Motorsports, and NASCAR in the antitrust lawsuit that started over a year ago.

“In all honesty, when you get to the finish l ine, sometimes you have to think not just for yourself, but you have to think about the sport as a whole,” Jordan, the NBA legend and majority owner of 23XI, said outside the federal courthouse in Charlotte, N.C. “I think both parties got to that point, and we realized we could have an opportunity to settle this, and we dove in and we actually did it.

“Unfortunately, it took us that long, but we got here. That’s all that matters.”

The financial terms of the agreement were not announced, but the sport will now have permanent charters. 23XI Racing and Front Row, who lost their charters during the litigation, will regain their charters.

In addition to alleging anti-competitive conduct by NASCAR, the two teams fought against the sport’s business model. The addition of permanent charters was one of the “four pillars” described during the charter negotiations. The others were for the teams to have a say in the governance of the sport, one-third of the sport’s new revenue, and $720 million (broken down to $20 million per charter car).

Upon leaving the courthouse, none of the parties involved gave specifics as to any additional details on the agreement.

“Like two competitors, obviously, we try to get as much done in each other’s favor but … I don’t think Jim [France, NASCAR Chairman and CEO] is any opposite of me,” Jordan said. “The fans have always been the best solution to this whole process and the whole sport itself. I’ve said this since day one: the only way this sport is going to grow is we have to find some synergy between the two entities, and I think we’ve gotten to that point.

“Unfortunately, it took 16 months to get here, but I think level heads just got us to this point where we can actually work together and build this sport. I’m very proud about that, and I think Jim feels the same way.”

Jordan and France stood side by side outside the courthouse as the parties addressed the media.

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“I do feel the same way,” France said. “We can get back to focusing on what we really love, and that’s racing. We’ve spent a lot of time not really focused on that as much as we need to be. So, I feel like we made a really good decision here together, and we have a good opportunity to continue growing the sport.”

The Associated Press is reporting that NASCAR will be working with all of its race teams on the agreements in place to account for Thursday’s settlement. League governance and the business model are expected to be among the topics.

“Both parties feel like it’s worth it [going through the legal dispute] because we had to work together,” Jordan said. “Compromise in every negotiation is one of the toughest things that you can do, and I think you can say we both compromised on both of our agendas, and I think we both came to the conclusion that it’s better for the sport.”

These statements were offered by the attorneys involved while outside the courthouse:

Jeffrey Kessler (23XI/Front Row): “We believe it’s a settlement that’s going to grow this sport. It’s going to be great for the teams and for NASCAR, but most importantly, for the fans. When this case was filed 15 months ago, this was never about just 23XI, it was never just about Front Row, it was about trying to do something that was to be great for everyone, and as part of this deal, we’re going to have evergreen charters that will be available for everyone.”

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Lawrence Buterman (NASCAR): “On behalf of NASCAR, I’d like to echo Mr. Kessler’s statement that we are thrilled that we could deliver this result to all the stakeholders. One of the key issues here for NASCAR has always been the preservation of the charter system, and we are thrilled that through this settlement, we get to preserve the charter system for the teams and for all the stakeholders while at the same time providing NASCAR with the necessary flexibility to run the sport in the best interest of all of the shareholders.”

John Stephenson Jr. (France personal attorney): “On behalf of the France family and for the sake of the 75 years they’ve invested in building this sport into what it is today and for the fans and for the sport, we’re glad to put these differences behind us in this lawsuit, lock arms, move together preserving the charter system for the benefit of all the stakeholders and growing this sport and the fan experience to be the greatest in all of sports.”

Denny Hamlin: “I’ve cared deeply about the sport of NASCAR my entire life. Racing is all I’ve ever known, and this sport shaped who I am. That’s why we were willing to shoulder the challenges that came with taking this stand. We believed it was worth fighting for a stronger and more sustainable future for everyone in the industry. Teams, drivers, and partners will now have the stability and opportunity they deserve.

“Our commitment to the fans and to the entire NASCAR community has never been stronger. I’m proud of what we’ve accomplished, and now it is time to move forward together and build the stronger future this sport deserves.”

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The charter agreement deadline for Cup Series teams was Sept. 6, 2024. 23XI Racing and Front Row Motorsports filed their joint lawsuit on Oct. 2, 2024. After many arguments, hearings, and subsequent decisions, the trial began on Dec. 1, 2025, and concluded on Dec. 11.