Michael Jeffrey Jordan, introducing himself formally in a federal courtroom on Friday, admitted that his drive to win and status as a newcomer emboldened his push for 23XI Racing to âchallengeâ Nascar over perceived violations of competition laws.
The owner disclosed financial and corporate details of his 23XI team, saying he invested $40 million of his own funds into the Cup Series operation launched with business partner Curtis Polk and longtime driver Denny Hamlin.
âIt fell to someone to act,â Jordan stated in the Charlotte courtroom. âI was a new person, I had no fear. I believed I could take on Nascar as a whole. I felt as far as the sport it needed to be looked at through a new lens.â
At issue is the end of a 2016 deal where Nascar granted each team a franchise. This system mirrors other professional sports with separately owned franchises, like the NBAâs Hornets or the NFLâs Panthers. The agreement was set to expire in 2024 when Nascar demanded teams renew their charters.
Jordan testified for an hour and exited the courthouse to a media frenzy, with onlookers and reporters vying for a glimpse or a picture of the sports legend.
Jordanâs 23XI is leading the full-court press along with another racing team for Nascar to overhaul a business model Jordan contended is unlawful to maintain excessive control.
At issue for Jordan and Heather Gibbs, who preceded Jordan, are details from last September. She recounted a frantic and emotional period where the racing circuit told teams they must sign a contract extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed entry in every race.
Jordan explained that 23XI and Front Row Motorsports concluded their sole viable path 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 approached Nascar about potential amendments or extension options. Nascar wasnât talking, according to his testimony.
But in the end, the pushback against what he saw as a unsustainable system was mostly about the usual bottom line for Jordan: Success.
âHamlin persuaded me getting a third driver improved our chances to win,â he said, noting that he bought a third charter late in 2024 for $28 million amid the legal dispute. âSo I dove in.â
Heather Gibbs detailed her request for permanent charters, submitted in a written letter to Nascar. She said the pressure of the contract signing demand didnât sit well.
According to her, the team founder first attempted to call and persuade Nascar against forcing signatures, but Nascarâs leader declined the request.
âDonât do this to us,â Heather Gibbs said was the message to Nascarâs leadership. She said France replied, âWhether I have 20 charters, I have 20. If I have 30, thatâs the number.â