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The basketball icon, introducing himself formally in a Charlotte court on Friday, admitted that his drive to win and novelty within the sport motivated his effort with 23XI Racing to confront Nascar over alleged violations of competition laws.

Financial Stakes and a Will to Win

Jordan shared financial and corporate details of his racing venture, revealing he put in $40 million of his own funds into the Cup Series operation launched with business partner Curtis Polk and driver Hamlin.

“Someone had to step forward,” Jordan stated in the Charlotte courtroom. “I was a new person, I had no fear. I believed I could take on Nascar as a whole. I felt as far as the sport required examination from a different view.”

The Core Dispute: Franchise System and Contract Pressure

At issue is the expiration of a 2016 deal where Nascar provided each team a franchise. This system mirrors other major leagues with independent franchises, like the Charlotte Hornets or the NFL’s Panthers. The agreement was due to end in 2024 when Nascar demanded charter membership renewals.

Jordan testified for an hour and exited the courthouse to pandemonium, with onlookers and reporters vying for a glimpse or a photo of the sports legend.

Spearheading the Fight

23XI Racing is at the forefront of the push along with Front Row Motorsports for Nascar to change a operating model Jordan contended is unlawful to keep two hands on the wheel.

For Jordan and and a fellow team representative, who testified before Jordan, are events from September 2024. She recounted a hectic and tense six hours where the racing circuit told teams they had to sign a charter agreement extension. The document spanned 112 pages outlining pay for chartered teams and a guaranteed entry in Nascar-sponsored races.

A Refusal to Sign

Jordan explained that his team and its ally decided their sole viable path was to decline to sign that extensive document and take the issue to court. The other 13 organizations agreed to the terms.

The team owners reached out to Nascar about possible changes or extension options. Nascar wasn’t talking, according to his testimony.

The Bottom Line: Victory

But in the end, the pushback against what he saw as a financially unsustainable model was driven by the usual bottom line for Jordan: Winning.

“Denny convinced me getting a third driver boosted our odds of winning,” he said, noting that he bought a third charter last year for $28 million despite the uncertainty. “So I dove in.”

Account from the Gibbs Family

Gibbs described her request for permanent charters, which she said a written letter to Nascar. She said the timing of the signature deadline didn’t sit well.

She said, Joe Gibbs first attempted to call and persuade Nascar against forcing signatures, but Nascar’s leader declined the request.

“Please don’t force this on us,” Gibbs recounted Joe Gibbs told Nascar’s leadership. The response was, “If I wake up and I have 20 charters, that’s what I have. If I have 30, I have 30.”