Michael Jordan, fellow team owners head to federal court for hearing in antitrust fight vs. NASCAR
Retired NBA great Michael Jordan and his fellow owners of two NASCAR teams headed to federal court for a hearing in their antitrust fight against the stock car series over what they say is an unfair business model
CHARLOTTE, N.C. (AP) — Retired NBA great Michael Jordan and his fellow owners of two NASCAR teams went to federal court Monday for a hearing in their antitrust fight against the stock car series over what they say is an unfair business model.
23XI Racing, which is owned by Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by restaurant entrepreneur Bob Jenkins, sued NASCAR and chairman Jim France in October after months of tense negotiations over NASCAR's charter system, which is essentially a franchise model that includes revenue sharing.
The two teams say NASCAR gave all Cup Series teams a last-minute, take-it-or-leave-it offer in September that both 23XI and Front Row refused to sign. The owners contend the charter system limits competition by unfairly binding teams to the series, its tracks and its suppliers, and they called the France family and NASCAR "monopolistic bullies.”
The two teams are represented by Jeffrey Kessler, the top antitrust lawyer in the country, who argued repeatedly they are only asking for a temporary injunction that allows them to compete without the clause that would prevent their ongoing lawsuit.
