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Michael Jeffrey Jordan, introducing himself formally in a Charlotte court 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 competition laws.

Financial Stakes and a Competitive Drive

Jordan shared financial and corporate details of his racing venture, saying he invested $40m of his personal wealth into the Cup Series operation launched with partner Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said in the Charlotte courtroom. “I was a new person, I wasn’t afraid. I felt I could challenge Nascar in its entirety. I felt as far as the sport it needed to be looked at from a different view.”

The Core Dispute: Franchise System and Contract Pressure

At issue is the expiration of a 2016 deal where Nascar granted each team a “charter”. This system mirrors other professional sports with separately owned franchises, like the NBA’s Hornets or the NFL’s Panthers. This deal was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan testified for about sixty minutes and exited the courthouse to a media frenzy, with fans and media clamoring for a glimpse or a picture of the global icon.

Spearheading the Fight

23XI Racing is at the forefront of the push along with another racing team for Nascar to overhaul a business model Jordan said is unlawful to keep two hands on the wheel.

At issue for Jordan and Heather Gibbs, who preceded Jordan, are events from September 2024. Gibbs described a hectic and tense period where the sanctioning body informed teams they had to sign a charter agreement extension. This agreement spanned over a hundred pages outlining team compensation and a guaranteed entry in every race.

A Refusal to Sign

Jordan said that 23XI and Front Row Motorsports decided their sole viable path was to decline to sign that extensive document and take the issue to court. All other teams agreed to the terms.

Jordan and co-owner Denny Hamlin approached Nascar about potential amendments or negotiations. Nascar wasn’t talking, Jordan said.

The Bottom Line: Winning

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

“Denny convinced me adding a third car improved our chances to win,” he said, noting that he bought a third charter last year for $28m despite the uncertainty. “So I took the plunge.”

Account from the Gibbs Family

Gibbs described her request for permanent charters, submitted in a written letter to Nascar. She testified the pressure of the contract signing demand was problematic.

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

“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.”