I never agreed with MJ being in NASCAR anyway he should’ve had his sights on formula 1 from jump…
Michael Jordan will own a NASCAR team with Bubba Wallace as a driver
- Thread starter Joe Grind
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NASCAR teams fear ‘catastrophic’ impact of disclosing financial records during court fight
By JENNA FRYER
Updated 4:18 PM CDT, June 24, 2025
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CHARLOTTE, N.C. (AP) — Attorneys for 12 of NASCAR’s 15 race teams argued in federal court Tuesday that disclosing their financial records to the stock car series would be “catastrophic” to competitive balance and warned that making such details public would put them all in danger.
The hearing was over a discovery dispute between NASCAR and the teams that are not parties in the ongoing antitrust suit filed by 23XI Racing, which is owned by retired NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins.
23XI and Front Row are the only two organizations out of the 15 that refused last September to sign take-it-or-leave offers on a new charter agreement. Charters are NASCAR’s version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the 13 teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery.
The other 12 organizations are fighting against releasing the information to NASCAR and even argued that NASCAR asking for them violates the charter agreement, which claims all disputes must go to arbitration.