23XI statement on not signing Charter agreement

virtualbalboa said:
NDAs/noncompetitive contracts have zero to do with anticompetitive behavior by a monopsony. On top of that, NASCAR might have just committed tortious interference in this trial with relation to Childress!
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I what did Nascar do wrong? Obviously someone leaked this info to them, that's the person that broke the NDA
 
Well now the price of charters has probably gone up to north of 100 million. And they've successfully made it even harder to enter the sport, congratulations now we have a F1 style of nascar where only the super rich are able to compete!
 
This was always the best outcome. Something similar to the settlement structure was the best outcome before there was a lawsuit, and at all points during the case. I always thought the France family and their top executives were pragmatic enough to settle it before an ugly trial that wasn't going to reflect well on their business practices. They weren't. They finally relented though, and good for whoever it was that persuaded them.
 
wi_racefan said:
Well now the price of charters has probably gone up to north of 100 million. And they've successfully made it even harder to enter the sport, congratulations now we have a F1 style of nascar where only the super rich are able to compete!
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I'm just so excited that this will bring in the possibility of the various forms of investor groups with their armies of lawyers into the sport. oh heavenly days.
 
Financial terms of the settlement are to remain confidential, as they should. If Hamdip spits them out in one of his dopey “I’m rich and a great driver” moments he can and probably will get his azz sued off his thick head. But most likely everyone will comply.

The evergreen charters are important, and a stumbling block to an earlier resolution. Teams must know these will vary in value based on demand, supply and the health of the sport. Hopefully teams will contribute to good health to maintain the value of their interests.

I’m just glad it’s done. France and NASCAR have some major clean up to do on aisle 5. Not sure if some of their key executives survive this…maybe they shouldn’t. A lot in doing business depends on trust. If broken, someone’s gotta go.
 
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wi_racefan said:
Well now the price of charters has probably gone up to north of 100 million. And they've successfully made it even harder to enter the sport, congratulations now we have a F1 style of nascar where only the super rich are able to compete!
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Those are legitimate concerns. They don't justify NASCAR's anticompetive behavior, but they are valid. I think Kelley Earnhardt Miller was on point in the podcast she and Dale Jr. did when she stated that at the root of all of this was the need to fix the team ownership model. NASCAR didn't do enough soon enough to fix it, and the lawsuit was the end result.

There are other and perhaps better ways to have fixed the team ownership financial model, but once committed to a charter system, temporary charters were not tenable.
 
Conover said:
France and NASCAR have some major clean up to do on aisle 5. Not sure if some of their key executives survive this…maybe they shouldn’t.
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I get the impression most of the stubbornness was from the Frances more then the hired help. Of course, that doesn't grant immunity to the minions if the bosses are looking for scapegoats.
 
Whew ! Glad that's over, now cant we just all get back to
the Whobilation of Christmas!
 
gnomesayin said:
I support the outcome, but even I am not sure I can stomach Denny thinking he's MLK now or something.

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I’ve told you all time and time again…Hamturd is a COMPLETE NARCISSIST. It is ALWAYS ALL ABOUT HIM, AND HOW GREAT HE IS! LOL at the MLK reference 😂😂😂!
 
Peace, love, and understanding. A compelling play-by-play here from Gluck.

www.nytimes.com

How NASCAR’s trial of the century came to an end in just 2 hours

The NASCAR antitrust trial looked like it was going to the bitter end. And then it was over. Here's how it all went down Thursday in court.
www.nytimes.com www.nytimes.com

How NASCAR’s trial of the century came to an end in just 2 hours​

Michael Jordan, in a plaid suit, leaves the courtroom after a day of proceedings last week in Charlotte.

Michael Jordan, co-owner of 23XI Racing, called it a "good day" after the sides settled the lawsuit that was first filed last year. Grant Baldwin / Getty Images
By Jeff Gluck
Dec. 11, 2025Updated 11:56 am CST

CHARLOTTE, N.C. — The courtroom that has hosted the NASCAR antitrust trial over the past two weeks immediately had an odd vibe on Thursday morning, as it was apparent that something unusual was happening.

At 8:10 a.m. (ET), 20 minutes before the trial reconvened for the day, both sides were suddenly huddling in a conference with their attorneys. NASCAR’s attorney walked over and said something to Jim France and Lesa Kennedy, NASCAR’s two majority owners. Jeffrey Kessler, the attorney for the two teams suing NASCAR, conferred with 23XI Racing owners Michael Jordan, Denny Hamlin and Curtis Polk, who was making his first appearance in the courtroom since opening statements, and Front Row Motorsports owner Bob Jenkins.

Judge Kenneth D. Bell appeared six minutes later and called the attorneys into a sidebar, then called in the jury at 8:31 a.m.

“I’ve met with the attorneys, and we’re going to sacrifice an hour of your time,” Bell told the jury of six with three alternates. “We need an hour to see if we can save you several hours. I really do believe this will save you a lot of time in the long run.”

Bell instructed the court to go into recess for an hour, and the parties scattered to confer on what certainly appeared to be settlement talks.

After an hour, the court clerk appeared and announced, “Whoever is coming, meet me in the front hallway.”

Jordan, Hamlin, Jenkins and their attorneys followed her out of the courtroom.

However, at 9:59 a.m., Bell was suddenly back on the bench and appeared ready to resume the testimony. He told the defense witness, Dr. Mark Zmijewski, to approach the stand and asked the plantiffs’ team if they had everyone needed to resume questioning.

“Mr. Kessler will be here in one minute,” attorney Josh Hafenbrack said.

“Very important person,” Bell cracked.

Kessler then emerged with apologies to the judge, saying he was “waiting for a little more information just to close the loop” and asked for a few more minutes as the defense was going through courtroom security.

Bell agreed.

Then, at 10:04 a.m., Kessler was back in the courtroom — along with the rest of the attorneys from both sides.

“Your honor, I am pleased to say the parties have positively settled this matter in a way that will benefit the industry going forward,” Kessler said.

But Bell, a no-nonsense judge, wasn’t satisfied.

“How much longer do you need? You said an hour and now …”

“They’re literally typing a few things in,” Kessler said. “There are no more open items.”

“I’ll stay sitting here to motivate you,” Bell replied.

It was obvious what was coming, and the celebration had begun. Hamlin, Jordan and Jenkins shook hands with each other and some of their attorneys.

Jordan sat with a venti holiday Starbucks cup — with a barista-scribbled “Thank you!” on the side — and looked toward the front of the courtroom, then peered to the side at two reporters, who grinned back, and smirked.

“What are you smiling at?” he teased.

“Good day,” he acknowledged.

Bell was handed the final document and read it for a few minutes before bringing the jury in for the final time.

NASCAR attorney Larry Buterman, who seemed to enjoy his sparring with Jordan throughout the trial, walked over and patted Jordan on the back as they shook hands.

“Do the parties agree to settle all issues before the jury?” Bell asked.

“Yes, your honor,” both Kessler and Buterman responded.

“Bring the jury in,” Bell said.

The nine jury members, who had been told on Wednesday that the trial would extend to next week, were seemingly in the dark about what was happening.

“Members of the jury, this case has been settled,” Bell said.

There was little reaction on many of their faces, if any.

“That means the trial is over,” Bell added.

The courtroom burst into laughter, and one juror on the end did a happy dance.

Bell said the court clerk had told him the jury was her “favorite jury of all time” because they were always prompt and engaged, and Bell said he was “extremely impressed” with them. He could tell they understood this complicated case and were aware of everything that was happening, and the judge thanked them for helping to settle it.

“I couldn’t achieve what you did the last nine days,” while participating in settlement talks this fall, Bell said. “You enabled them to see the wisdom of settlement.”

His final instruction: At last, the jury was allowed to speak to whoever they wanted about the case and read whatever had been written about it.

“And there’s been a lot written about it,” he added.

With that, Bell told the parties he was “very happy” with the settlement outcome.

“I wish you had done this a couple months ago, but it was the right thing to do,” Bell said. “I congratulate all of you. This is going to be great for NASCAR — the entity NASCAR, the industry NASCAR, the teams, the drivers and, as you have often said yourselves, ultimately the fans.”

Then, like the final and cathartic scene from a tense movie, all the characters involved crossed the aisle to greet each other.

There was Jordan shaking hands with NASCAR president Steve O’Donnell and longtime executive Mike Helton. Hamlin was hugging — yes, hugging — Jim France.

All of the adversaries who had expressed so much bad blood and torn NASCAR from the inside out in this trial were suddenly locking arms, with no cameras present, in what appeared to be a genuine gesture of moving forward.

Then they walked out into the North Carolina sunshine, stood on the courthouse steps and faced the media.

It was over.
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