Michael Jordan, the NBA legend and owner of 23XI Racing, declined a $150 million deal from NASCAR due to concerns over the sport’s evolving revenue-sharing model. In September 2024, NASCAR introduced a new charter system that altered the distribution of media rights revenue, favoring NASCAR-owned tracks and potentially reducing earnings for independent teams like 23XI Racing. Jordan and his team viewed this as a monopolistic move that could undermine competition and financial stability for teams outside NASCAR’s direct control. citeturn0search5
In response, 23XI Racing, along with Front Row Motorsports, filed an antitrust lawsuit against NASCAR, alleging that the new charter system stifled competition and unfairly restricted teams. The lawsuit claimed that NASCAR’s practices violated the Sherman Antitrust Act by coercing teams into unfavorable terms with no alternative, significantly impacting their financial viability. citeturn0news11
Despite the legal challenges, 23XI Racing has continued to expand its presence in NASCAR. In February 2025, the team announced a multi-year deal with driver Corey Heim, marking a significant addition to their roster. Heim, a 22-year-old driver with a strong track record in the Craftsman Truck Series, is set to compete in various races throughout the 2025 NASCAR Cup and Xfinity Series. citeturn0search1
The ongoing legal battle underscores the tension between NASCAR’s governing body and independent teams like 23XI Racing, highlighting broader concerns about the sport’s governance and financial future. As the lawsuit progresses, the outcome could have significant implications for the structure and competitiveness of NASCAR in the years to come.
