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Michael Jeffrey Jordan, as he cordially introduced himself in a Charlotte court on Friday, admitted that his drive to win and novelty within the sport motivated his effort with 23XI Racing to confront Nascar over perceived violations of antitrust rules.

Team Investment and a Will to Win

Jordan shared financial and corporate details of his 23XI team, revealing he invested $40 million of his own funds into the Cup Series operation co-founded with partner Polk and driver Hamlin.

“It fell to someone to act,” Jordan said during testimony. “As a newcomer, I wasn’t afraid. 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.”

Central Issue: Charter Agreements and Contract Pressure

The heart of the case involves the expiration of a 2016 agreement where Nascar granted each team a “charter”. The concept is similar to other major leagues with separately owned franchises, such as the Charlotte Hornets or the Carolina Panthers. This deal was set to expire in 2024 when Nascar insisted on teams renew their charters.

Jordan testified for an hour and left the court to pandemonium, with onlookers and reporters vying for a glimpse or a photo of the sports legend.

Spearheading the Fight

23XI Racing is leading the full-court press along with another racing team for Nascar to change a operating model Jordan contended is breaking the law to keep two hands on the wheel.

For Jordan and 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 must sign a contract extension. This agreement consists of over a hundred pages detailing pay for chartered teams and a guaranteed spot in Nascar-sponsored races.

Choosing Litigation

Jordan said that his team and its ally concluded their sole viable path was to decline to sign that extensive document and litigate the matter. All other teams signed the agreement.

The team owners reached out to Nascar about potential amendments or extension options. Nascar refused to engage, according to his testimony.

The Bottom Line: Victory

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

“Denny convinced me adding a third car improved our chances to win,” he said, sharing that he purchased another franchise late in 2024 for $28 million despite the uncertainty. “So I dove in.”

Account from the Gibbs Family

Gibbs described her request for permanent charters, which she said a written letter to Nascar. She testified the timing of the contract signing demand was problematic.

She said, the team founder first attempted to call and talk Nascar out of 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, “If I wake up and I have 20 charters, I have 20. If I have 30, that’s the number.”