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Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, stated that his drive to win and novelty within the sport motivated his effort with 23XI Racing to confront Nascar over alleged violations of antitrust rules.

Team Investment and a Will to Win

The owner disclosed operational insights of his 23XI team, revealing he put in $40 million of his own funds into the Nascar Cup series team co-founded with business partner Curtis Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said in the Charlotte courtroom. “As a newcomer, I wasn’t afraid. I felt I could challenge Nascar in its entirety. I felt as far as the sport required examination through a new lens.”

Central Issue: Charter Agreements and Contract Pressure

The heart of the case involves the expiration of a 2016 agreement where Nascar provided each team a “charter”. The concept is similar to other professional sports with separately owned franchises, like the Charlotte Hornets or the Carolina Panthers. The agreement was set to expire in 2024 when Nascar insisted on charter membership renewals.

Jordan was on the witness stand for an hour and left the court to pandemonium, with onlookers and reporters clamoring for a glimpse or a picture of the sports legend.

Spearheading the Fight

Jordan’s 23XI is at the forefront of the push along with another racing team for Nascar to change a business model Jordan contended is breaking the law to keep two hands on the wheel.

At issue for Jordan and Heather Gibbs, who testified before Jordan, are events from September 2024. Gibbs described a hectic and tense six hours where the racing circuit told teams they must sign a charter agreement extension. This agreement consists of over a hundred pages detailing pay for chartered teams and a guaranteed spot 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 112-page package and take the issue to court. The other 13 organizations agreed to the terms.

The team owners reached out to Nascar about potential amendments or extension options. Nascar wasn’t talking, Jordan said.

The Bottom Line: Winning

Ultimately, the pushback against what he saw as a financially unsustainable model was mostly about the familiar goal for Jordan: Winning.

“Hamlin persuaded me adding a third car improved our chances to win,” he testified, noting that he bought a third charter last year for $28 million amid the legal dispute. “So I dove in.”

Account from the Gibbs Family

Gibbs described her push for indefinite franchises, which she said a written letter to Nascar. She said the timing of the contract signing demand was problematic.

According to her, the team founder first tried to call and talk Nascar out of demanding signatures, but Nascar’s leader declined the request.

“Don’t do this to us,” Gibbs recounted Joe Gibbs told Nascar’s leadership. The response was, “If I wake up and I have 20 charters, that’s what I have. If I have 30, I have 30.”