A settlement was reached between NASCAR and the ownership of two of its three-car teams on Thursday, ending an anti-trust lawsuit that had been a major story in the series over the past year. Front Row Motorsports Bob Jenkins and three 23XI Racing owners—Denny Hamlin, Curtis Polk, and basketball legend Michael Jordan—received major concessions from NASCAR that include possible “evergreen” charter agreements and a financial element that was not specified.
The lawsuit centered on negotiations over a 2024 extension of NASCAR’s charter agreements, the deals between teams and the series itself that allow the sport’s participants to hold franchise-like ownership over their entries on the grid. 23XI Racing and Front Row Motorsports opted not to sign that extension in September of last year, the first step in an ordeal that became litigious when the two teams sued NASCAR in October.
Advertisement
Over the next year, NASCAR and the two teams failed to reach a settlement, or to solve their problems in court. That stretched to the start of a federal anti-trust trial last week, an event that opened the door for witness testimonies from team owners, series leadership, and outside experts. The trial led to some surprising revelations, most notably including details of how NASCAR responded to Tony Stewart’s short-lived SRX series and a few mentions of a breakaway series that team owners had once considered during charter negotiations.
After just over eight days in court, the parties took a recess on Thursday to discuss the settlement. The deal was signed shortly afterward. In a joint statement released shortly afterward, the parties say that the current charter agreement will be amended and updated terms will include “evergreen” charters, subject to mutual agreement. 23XI and Front Row have also each received their three respective charters back, restoring them to the same status as the other 30 chartered entries in the full-time NASCAR field.
With the contentious trial over, NASCAR and the teams have avoided the larger potential consequences of a verdict decided in court. This means that some other elements that teams objected to, like NASCAR’s direct ownership of many of its most important tracks, will not be directly questioned by the court as part of this case.
Advertisement
NASCAR racing returns in February. It will be the first run of stock car races held without the shadow of the charter agreement looming since negotiations between teams and the series began in early 2024.
You Might Also Like
