Another interesting layer of the Charter Agreement saga was written on Wednesday morning as 23XI Racing and Front Row Motorsports officially filed an antitrust lawsuit in the Federal Court of North Carolina against NASCAR.
The lawsuit from the two teams, who have held out from signing the NASCAR Charter Agreement, alleges, “the unlawful monopolization of premier stock car racing by the France family in order to enrich themselves at the expense of the premier stock car racing teams that the fans come out to see and that sponsors and broadcasters value.”
With the public filing records going public on Wednesday morning, 23XI Racing and Front Row Motorsports issued a joint statement about the matter, where the two teams expressed the need for change within the sport of NASCAR.
“We share a passion for racing, the thrill of competition, and winning. Off the racetrack, we share a belief that change is necessary for the sport we love,” the teams state. “Together, we brought this antitrust case so that racing can thrive and become a more competitive and fair sport in ways that will benefit teams, drivers, sponsors, and most importantly, fans.”
Michael Jordan, co-owner of the 23XI Racing team, says that in the NBA he fought with intensity every day to win, and this lawsuit showcases his desire to fight for the teams, drivers, and fans in NASCAR to make the sport a place where everyone can truly win.
“Everyone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track,” Jordan said in a statement. “I love the sport of racing and the passion of our fans, but the way NASCAR is today is unfair to teams, drivers, sponsors, and fans. Today’s action shows I’m willing to fight for a competitive market where everyone wins.”
Expanding on the joint statement, Front Row Motorsports team owner Bob Jenkins says it’s time for NASCAR teams to have the chance to build enterprise value like teams in every other major sport.
“I have been part of this racing community for 20 years and couldn’t be more proud of the Front Row Motorsports team and our success. But the time has come for change,” Jenkins said. “We need a more competitive and fair system where teams, drivers, and sponsors can be rewarded for our collective investment by building long-term enterprise value, just like every other successful professional sports league.”
Last month, teams were reportedly pressured to sign the Charter Agreement by midnight ET on Friday, September 6. Sources have disclosed to TobyChristie.com that the teams were told if they didn’t sign the deal by the deadline, they would face having their Charters revoked by the sanctioning body.
All of the teams, aside from 23XI Racing and Front Row Motorsports, signed the Agreement.
