{"id":287394,"date":"2024-10-03T08:34:48","date_gmt":"2024-10-03T13:34:48","guid":{"rendered":"http:\/\/csinewsnow.com\/?p=287394"},"modified":"2024-10-03T08:34:49","modified_gmt":"2024-10-03T13:34:49","slug":"michael-jordan-leads-nascar-antitrust-lawsuit","status":"publish","type":"post","link":"http:\/\/csinewsnow.com\/?p=287394","title":{"rendered":"Michael Jordan Leads NASCAR Antitrust Lawsuit"},"content":{"rendered":"
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FLM – Michael Jordan\u2019s 23XI Racing and Front Row Motorsports filed an antitrust lawsuit against NASCAR and its CEO Jim France on Wednesday.<\/p>\n\n\n\n

Their lawsuit filed in the Western District of North Carolina in Charlotte accuses the stock car series and the France family of using anti-competitive practices to prevent fair competition in the sport.<\/p>\n\n\n\n

\u201cWe share a passion for racing, the thrill of competition, and winning,\u201d the two teams said in a joint statement. \u201cOff the racetrack, we share a belief that change is necessary for the sport we love. Together, we brought this antitrust case so that racing can thrive and become a more competitive and fair sport in ways that will benefit teams, drivers, sponsors, and, most importantly, fans.\u201d<\/p>\n\n\n\n

Examples of anti-competitive practices listed in the lawsuit include NASCAR\u2019s acquisition of a majority of the premier racetracks, the purchase of the competing series ARCA, policies prohibiting teams from participating in races outside of NASCAR, and forcing to teams to buy supplies from NASCAR-selected companies.<\/p>\n\n\n\n

\u201cNo other major professional sport in North America is run by a single family that enriches themselves through these kinds of unchecked monopolistic practices,\u201d read the press release from 23X1 and Front Row.<\/p>\n\n\n\n

At the heart of the lawsuit is NASCAR\u2019s revenue-sharing charter agreement that was established in 2016. Both teams have refused to sign a renewal of the charter system, citing \u201cunfair terms\u201d and demanding a larger share of the pot.<\/p>\n\n\n\n

The teams said their lawsuit is seeking treble damages for the \u201canti-competitive terms that teams have been subject to under the 2016 charter agreement.\u201d<\/p>\n\n\n\n

Jordan, veteran driver Denny Hamlin and Curtis Polk founded 23X1 Racing in 2020. Owner Bob Jenkins and Front Row Motorsports have been racing full-time since 2005.<\/p>\n\n\n\n

\u201cEveryone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track,\u201d said Jordan, a member of the basketball Hall of Fame. \u201cI love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair to teams, drivers, sponsors, and fans. Today\u2019s action shows I\u2019m willing to fight for a competitive market where everyone wins.\u201d<\/p>\n\n\n\n

NASCAR officials had no immediate comment.<\/p>\n","protected":false},"excerpt":{"rendered":"

FLM – Michael Jordan\u2019s 23XI Racing and Front Row Motorsports filed an antitrust lawsuit against NASCAR and its CEO Jim France on Wednesday. Their lawsuit filed in the Western District of North Carolina in Charlotte accuses the stock car series and the France family of using anti-competitive practices to prevent […]<\/p>\n","protected":false},"author":4,"featured_media":287395,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27],"tags":[],"class_list":["post-287394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sports"],"_links":{"self":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/287394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=287394"}],"version-history":[{"count":1,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/287394\/revisions"}],"predecessor-version":[{"id":287396,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/posts\/287394\/revisions\/287396"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=\/wp\/v2\/media\/287395"}],"wp:attachment":[{"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=287394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=287394"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/csinewsnow.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=287394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}