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Michael Jeffrey Jordan, as he cordially introduced himself in a Charlotte court on Friday, admitted that his drive to win and status as a newcomer emboldened his effort with 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.

Team Investment and a Competitive Drive

The owner disclosed financial and corporate details of his 23XI team, revealing he put in $40m of his own funds into the Cup Series operation launched with partner Polk and driver Hamlin.

“It fell to someone to act,” Jordan said during testimony. “I was a new person, I wasn’t afraid. I believed I could take on Nascar in its entirety. From my perspective, the sport it needed to be looked at through a new lens.”

The Core Dispute: Charter Agreements and Contract Pressure

At issue is the expiration of a 2016 agreement where Nascar granted each team a franchise. This system mirrors other major leagues with separately owned franchises, such as the Charlotte Hornets or the Carolina Panthers. This deal was due to end in 2024 when Nascar demanded teams renew their charters.

Jordan testified for an hour and exited the courthouse to a media frenzy, with onlookers and reporters clamoring for a glimpse or a photo 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 overhaul a business model Jordan said is breaking the law to maintain excessive control.

For Jordan and and Heather Gibbs, who preceded Jordan, are events from September 2024. Gibbs described a frantic and emotional six hours where the racing circuit informed teams they had to sign a charter agreement extension. The document consists of 112 pages detailing pay for chartered teams and a guaranteed entry in every race.

A Refusal to Sign

Jordan explained that his team and its ally decided their sole viable path was to refuse a signature that extensive document and take the issue to court. The other 13 organizations signed the agreement.

The team owners reached out to Nascar about potential amendments or extension options. Nascar refused to engage, Jordan said.

The Bottom Line: Winning

But in the end, the pushback against what he saw as a unsustainable system was driven by the familiar goal for Jordan: Winning.

“Denny convinced me adding a third car boosted our odds of winning,” he said, noting that he bought a third charter late in 2024 for $28 million despite the uncertainty. “So I dove in.”

Account from the Gibbs Family

Gibbs described her request for permanent charters, submitted in a formal letter to Nascar. She testified the pressure of the signature deadline didn’t sit well.

She said, Joe Gibbs first attempted to call and persuade Nascar against demanding signatures, but Nascar’s leader refused the appeal.

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