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Michael Jeffrey Jordan, introducing himself formally in a Charlotte court on Friday, stated that his competitive side and novelty within the sport motivated his effort with 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.

Financial Stakes and a Competitive Drive

The owner disclosed operational insights of his 23XI team, saying he put in $40 million of his personal wealth into the Cup Series operation co-founded with business partner Curtis Polk and longtime driver Denny Hamlin.

“It fell to someone to act,” Jordan said in the Charlotte courtroom. “As a newcomer, I had no fear. I believed I could take on Nascar in its entirety. From my perspective, the sport required examination from a different view.”

Central Issue: Charter Agreements and Contract Pressure

At issue is the end of a 2016 deal where Nascar provided each team a “charter”. This system mirrors other professional sports with independent franchises, like the Charlotte Hornets or the Carolina Panthers. The agreement was set to expire in 2024 when Nascar demanded charter membership renewals.

Jordan testified for an hour and exited the courthouse to pandemonium, with fans and media vying for a view or a photo of the sports legend.

Leading the Legal Charge

Jordan’s 23XI is at the forefront of the push along with another racing team for Nascar to change a operating model Jordan contended is unlawful to keep two hands on the wheel.

At issue for Jordan and Heather Gibbs, who testified before Jordan, are events from September 2024. She recounted a frantic and emotional six hours where the racing circuit told teams they had to sign a contract extension. This agreement spanned over a hundred 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 only feasible option was to refuse a signature that extensive document and take the issue to court. All other teams agreed to the terms.

Jordan and co-owner Denny Hamlin reached out to Nascar about potential amendments or extension options. Nascar wasn’t talking, according to his testimony.

The Ultimate Motivation: Winning

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

“Hamlin persuaded me getting a third driver boosted our odds of winning,” he said, sharing that he bought a third charter last year for $28 million despite the uncertainty. “So I took the plunge.”

Heather Gibbs’ Testimony

Heather Gibbs detailed her push for indefinite franchises, submitted in a formal letter to Nascar. She testified the timing of the contract signing demand was problematic.

According to her, the team founder first tried to call and talk Nascar out of forcing signatures, but Nascar’s leader 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, that’s what I have. If there are 30, that’s the number.”