Summary
Michael Jordan and his racing team, along with Front Row Motorsports, are suing Nascar, claiming it operates an illegal monopoly that harms their business. The lawsuit argues that Nascar's control over car requirements and race charters stifles competition and profit opportunities. The trial, held in Charlotte, North Carolina, seeks monetary compensation for financial losses and legal fees.
Key Facts
- Michael Jordan is suing Nascar for allegedly operating as an illegal monopoly.
- Jordan co-owns 23XI Racing, a team involved in the lawsuit.
- Front Row Motorsports is also part of the lawsuit against Nascar.
- The trial is taking place in Charlotte, North Carolina.
- The lawsuit claims Nascar's charter system is unfair and stifles competition.
- 23XI and Front Row accuse Nascar of controlling innovations and profits through car and part mandates.
- Over 70% of teams reported financial losses in 2024, according to a study cited in court.
- The lawsuit seeks financial compensation and argues Nascar operates to benefit its founding family.
