[ad_1]
Michael Jordan’s NASCAR team, 23XI Racing, and fellow team Front Row Motorsports have filed an antitrust lawsuit against NASCAR and CEO Jim France, claiming that anticompetitive practices are hindering fair competition in the sport. The lawsuit alleges that NASCAR and France lack transparency, limit competition, and unfairly benefit themselves at the expense of team owners, drivers, sponsors, partners, and fans.

23XI Racing, co-founded in 2020 by NBA legend Jordan, driver Denny Hamlin, and Curtis Polk, aims to challenge NASCAR’s control over the sport. Front Row Motorsports, owned by Bob Jenkins since 2005, also seeks a more competitive and fair system where teams, drivers, and sponsors can thrive and build long-term value.

The suit highlights NASCAR’s exclusive control over premier racetracks, mandated use of single-source suppliers for car parts, and restrictions on team participation in other stock car races. Team owners like Jenkins have struggled to turn a profit despite significant investments, with high costs of running a chartered team per season.

NASCAR’s recent lucrative media deals contrast with the financial struggles faced by many teams, leading to high turnover in the sport. Even with championships and experience, teams like Hendrick Motorsports have found it challenging to maintain profitability. Jordan, the first Black majority owner of a full-time NASCAR team, is committed to fighting for a more competitive market that benefits all stakeholders.

23XI Racing, led by driver Tyler Reddick, achieved its first regular-season championship last month, positioning itself as a contender in NASCAR standings. With legal representation by prominent sports lawyer Jeffrey Kessler, the teams seek damages for alleged anticompetitive terms under the 2016 charter agreement and plan to continue pursuing antitrust litigation.

NASCAR’s response to the lawsuit remains pending as 23XI Racing and Front Row Motorsports push for fair competition and transparency in the sport.

[ad_2]
SOURCE