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The basketball icon, as he cordially introduced himself in a federal courtroom on Friday, admitted that his competitive side and novelty within the sport motivated his push for 23XI Racing to “challenge” Nascar over alleged violations of antitrust rules.

Team Investment and a Competitive Drive

The owner disclosed financial and corporate details of his racing venture, revealing he invested $40m of his personal wealth into the Cup Series operation co-founded with business partner Curtis Polk and driver Hamlin.

“It fell to someone to act,” Jordan stated in the Charlotte courtroom. “I was a new person, 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

At issue is the expiration of a 2016 agreement where Nascar granted each team a “charter”. The concept is similar to other professional sports with separately owned franchises, like the NBA’s Hornets or the Carolina Panthers. This deal was set to expire in 2024 when Nascar insisted on charter membership renewals.

Jordan testified for about sixty minutes and exited the courthouse to a media frenzy, with onlookers and reporters vying for a view or a picture of the sports legend.

Spearheading the Fight

Jordan’s 23XI is leading the full-court press along with another racing team for Nascar to overhaul a business model Jordan said is breaking the law to keep two hands on the wheel.

At issue for Jordan and a fellow team representative, who preceded Jordan, are events from September 2024. She recounted a hectic and tense six hours where the sanctioning body told teams they had to sign a contract extension. The document spanned 112 pages outlining pay for chartered teams and a guaranteed entry in every race.

Choosing Litigation

Jordan said that his team and its ally decided their only feasible option was to refuse a signature that extensive document and take the issue to court. The other 13 organizations signed the agreement.

The team owners approached Nascar about possible changes or extension options. Nascar wasn’t talking, according to his testimony.

The Bottom Line: Winning

But in the end, the resistance against what he saw as a unsustainable system was mostly about the familiar goal for Jordan: Winning.

“Hamlin persuaded me adding a third car improved our chances to win,” he testified, sharing that he bought a third charter last year for $28m despite the uncertainty. “So I took the plunge.”

Heather Gibbs’ Testimony

Gibbs described her request for permanent charters, which she said a formal letter to Nascar. She said the pressure of the contract signing demand didn’t sit well.

She said, the team founder first attempted to call and persuade Nascar against forcing signatures, but CEO Jim France declined the request.

“Please don’t force this on us,” Heather Gibbs said was the message to Nascar’s leadership. The response was, “Whether I have 20 charters, that’s what I have. If I have 30, that’s the number.”