Michael Jordan Sues Popular Sports Over Antitrust Issues

Michael Jordan is known as one of the most iconic and greatest basketball players in NBA history, winning six NBA championships, two Olympic gold medals, and five MVP and three All-Star MVP titles.

The successful NBA player has a net worth of approximately $3.5 billion, making him one of the richest former athletes in the world.

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In 2023, after selling his ownership stake in the NBA’s Charlotte Hornets franchise, Jordan decided to invest in some of his biggest passions, including marketing, public relations, philanthropy and, of course, sports.

NASCAR GEICO Cup Series 500 on April 21, 2024 at Talladega SuperSpeedway in Talladega, AL.

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Michael Jordan pursues his passion for sports by investing in motorsports

Like any retired athlete, Jordan is very passionate about sports, so he chose to include NASCAR in his multiple investments.

The National Stock Car Racing Association, popularly known as NASCAR, is one of the world’s leading motorsports organizations and among the largest spectator sports leagues in the United States

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In 2020, Jordan co-founded the 23XI auto racing team with his business partner Bob Jenkins and race car driver Denny Hamlin, hoping to create a team that was as successful as he was in his career his basketball.

Tough action is being taken against NASCAR after a vexing disagreement could not be resolved

When 23XI became a member of NASCAR, the team’s co-founders signed an agreement with terms and conditions that have been in place since 2016.

However, more than two years ago, NASCAR decided to update its agreements for the 2025 season, which 23XI refused to sign because it did not agree with the unfair terms and conditions the team would be bound to.

The Front Row Motorsports racing team, which has been involved in NASCAR since 2005, also refused to sign the new agreements due to the same conflicts as 23XI.

Unable to reach an agreement after more than two years of trying, both teams concluded that filing a lawsuit would be the only way to end NASCAR’s anti-competitive practices.

23XI and Front Row Motorsports are filing a lawsuit against NASCAR and its CEO

On Wednesday, Jordan’s racing team, 23XI, and Front Row Motorsports announced that they had filed a joint lawsuit in U.S. District Court in Charlotte, North Carolina, against NASCAR and its CEO, Jim France, for violations of antitrust.

“We share the passion for racing, the thrill of competition and winning. Off the racetrack, we share the belief that change is necessary for the sport we love. Together, we have brought this antitrust case so that racing can thrive and become a more competitive and fair sport in ways that will benefit the teams, drivers, sponsors, and most importantly, the fans,” stated 23XI Racing and Front Row Motorsports in a joint statement. .

Jordan, his team and the organization claim that NASCAR has monopolized the sports of auto racing for years, using anti-competitive practices to prevent fair competition.

The plaintiffs argue that NASCAR is the only major professional sport in the US run by a single family that further enriches itself by purchasing related and rival companies to eliminate all competition.

According to the suit, the plaintiffs allege that the defendants:

• It bought most of the premier racetracks that are exclusive to NASCAR racing, imposing exclusivity deals on NASCAR-sanctioned racetracks.
• Acquired the Automobile Racing Club of America (ARCA), the only notable competitor in the stock car racing series.
• It prevented teams from entering any other stock car races.
• It retained ownership of Next Gen parts and cars, forcing teams to buy their parts from NASCAR’s chosen single-source suppliers.

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Lawsuits tend to take some time to reach a verdict, so while the case continues, 23XI and Front Row Motorsports will file for a preliminary injunction that would allow them to compete in the next calendar year.

The teams will also seek damages for anti-competitive terms they have been subjected to since signing their last deals.

“Everyone knows I’ve always been a fierce competitor and the will to win is what drives me and the entire 23XI team out on the track every week. I love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair…,” co-owner Michael Jordan said in a statement.

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