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Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, admitted that his competitive side and status as a newcomer motivated his push for 23XI Racing to confront Nascar over perceived violations of antitrust rules.

Financial Stakes and a Competitive Drive

The owner disclosed financial and corporate details of his 23XI team, revealing he put in $40 million of his personal wealth into the Nascar Cup series team co-founded with business partner Curtis Polk and longtime driver Denny Hamlin.

“It fell to someone to act,” Jordan said during testimony. “I was a new person, 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.”

Central Issue: Charter Agreements and Renewal Demands

At issue is the expiration of a 2016 deal where Nascar provided each team a “charter”. The concept is similar to other major leagues with separately owned franchises, like the NBA’s Hornets or the NFL’s Panthers. The agreement was set to expire in 2024 when Nascar demanded teams renew their charters.

Jordan was on the witness stand for about sixty minutes and exited the courthouse to pandemonium, with fans and media vying for a view or a photo of the sports legend.

Spearheading the Fight

23XI Racing is leading the full-court press along with Front Row Motorsports for Nascar to change a business model Jordan contended is unlawful to maintain excessive control.

At issue for Jordan and a fellow team representative, who testified before Jordan, are events from September 2024. She recounted a frantic and emotional period where the racing circuit told teams they had to sign a charter agreement extension. This agreement consists of over a hundred pages detailing 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 sole viable path was to decline to sign that extensive document and litigate the matter. All other teams agreed to the terms.

Jordan and co-owner Denny Hamlin approached Nascar about potential amendments or negotiations. Nascar refused to engage, Jordan said.

The Ultimate Motivation: Winning

But in the end, the pushback against what he saw as a financially unsustainable model was driven by the usual bottom line for Jordan: Success.

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

Heather Gibbs’ Testimony

Gibbs described her request for permanent charters, submitted in a formal letter to Nascar. She said the pressure of the signature deadline was problematic.

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

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