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The basketball icon, introducing himself formally in a Charlotte court on Friday, admitted that his drive to win and novelty within the sport motivated his push for 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.

Financial Stakes and a Competitive Drive

The owner disclosed financial and corporate details of his 23XI team, saying he put in $40m of his own funds into the Cup Series operation co-founded with business partner Curtis Polk and longtime driver Denny Hamlin.

“It fell to someone to act,” Jordan stated during testimony. “As a newcomer, I wasn’t afraid. I felt I could challenge Nascar as a whole. I felt as far as the sport required examination through a new lens.”

The Core Dispute: Charter Agreements and Renewal Demands

The heart of the case involves the expiration of a 2016 agreement where Nascar provided each team a franchise. The concept is similar to other major leagues with separately owned franchises, like the Charlotte Hornets or the Carolina Panthers. The agreement was set to expire in 2024 when Nascar demanded teams renew their charters.

Jordan testified for about sixty minutes and left the court to a media frenzy, with fans and media vying for a glimpse or a picture 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 breaking the law to maintain excessive control.

For Jordan and and Heather Gibbs, who preceded Jordan, are events from last September. She recounted a frantic and emotional period where the sanctioning body informed teams they must sign a charter agreement extension. This agreement consists of over a hundred pages detailing pay for chartered teams and a guaranteed entry in every race.

Choosing Litigation

Jordan explained that his team and its ally concluded their sole viable path was to refuse a signature that 112-page package and take the issue to court. The other 13 organizations signed the agreement.

Jordan and co-owner Denny Hamlin approached Nascar about possible changes or extension options. Nascar wasn’t talking, according to his testimony.

The Bottom Line: Victory

Ultimately, the pushback against what he saw as a financially unsustainable model was driven by the familiar goal for Jordan: Winning.

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

Account from the Gibbs Family

Heather Gibbs detailed her request for permanent charters, which she said a written letter to Nascar. She testified the timing of the signature deadline didn’t sit well.

According to her, Joe Gibbs first attempted to call and talk Nascar out of demanding signatures, but Nascar’s leader declined the request.

“Please don’t force this on us,” Heather Gibbs said was the message to Nascar’s executives. The response was, “Whether I have 20 charters, I have 20. If I have 30, I have 30.”