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The basketball icon, introducing himself formally in a federal courtroom on Friday, stated that his drive to win and novelty within the sport emboldened his push for 23XI Racing to “challenge” Nascar over alleged violations of antitrust rules.

Financial Stakes and a Will to Win

The owner disclosed financial and corporate details of his racing venture, saying he put in $40 million of his personal wealth into the Nascar Cup series team launched with business partner Curtis Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said in the Charlotte courtroom. “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 from a different view.”

The Core Dispute: Charter Agreements and Renewal Demands

At issue is the expiration of a 2016 agreement where Nascar provided each team a “charter”. This system mirrors other major leagues with independent franchises, such as the Charlotte Hornets or the NFL’s Panthers. This deal was due to end in 2024 when Nascar demanded charter membership renewals.

Jordan testified for about sixty minutes and exited the courthouse to pandemonium, with fans and media clamoring for a view or a picture of the sports legend.

Spearheading the Fight

23XI Racing is leading the full-court press along with Front Row Motorsports for Nascar to overhaul a operating model Jordan said is breaking the law to keep two hands on the wheel.

For Jordan and and Heather Gibbs, who testified before Jordan, are events from September 2024. She recounted a hectic and tense period where the sanctioning body told teams they had to sign a contract extension. The document spanned 112 pages outlining team compensation and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan said that 23XI and Front Row Motorsports concluded their sole viable path was to refuse a signature that 112-page package and litigate the matter. All other teams signed the agreement.

The team owners approached Nascar about possible changes or negotiations. Nascar wasn’t talking, according to his testimony.

The Ultimate Motivation: Winning

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

“Hamlin persuaded me getting a third driver improved our chances to win,” he said, sharing that he purchased another franchise late in 2024 for $28m despite the uncertainty. “So I took the plunge.”

Account from the Gibbs Family

Heather Gibbs detailed her push for indefinite franchises, which she said a written letter to Nascar. She said the pressure of the signature deadline didn’t sit well.

She said, Joe Gibbs first attempted to call and talk Nascar out of forcing signatures, but CEO Jim France refused the appeal.

“Don’t do this to us,” Heather Gibbs said Joe Gibbs told Nascar’s executives. She said France replied, “Whether I have 20 charters, that’s what I have. If there are 30, that’s the number.”