Michael Jordan’s NASCAR Team Sues League Over ‘Anticompetitive’ Practices

Michael Jordan

Michael Jordan’s NASCAR Team Sues League Over ‘Anticompetitive’ Practices

Basketball legend Michael Jordan’s professional racing team has filed a lawsuit against NASCAR and their CEO Jim France.

According to reports, the league was accused of enforcing “anticompetitive” practices that prevent team owners from making a “reasonable” profit while still requiring them to invest tens of millions into the sport annually.

Michael Jordan

Front Row Motorsports founder Bob Jenkins, who joined Jordan’s team 23XI to file the suit, claimed that in the 20 years he’s been part of the business he’s failed to see financial gain. He stated:

“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.”

The suit added:

“No other major professional sport in North America is run by a single family that enriches themselves through these kinds of unchecked monopolistic practices.”

Michael Jordan

The complaint accused NASCAR of operating without transparency, stifling competition, and controlling the sport in ways that unfairly benefit them through the purchases of the premier racetracks and allegedly keeping them exclusive to its races.

They’re also accused of requiring teams to buy their parts from a single-source supplier chosen by the league and barring teams from participating in other stock car races.

Considering the cost of around $18 million a year it takes to operate a team, and NASCAR inking a $7.7 billion media deal last year, owners said the wealth from the sport needs to be shared amongst investors. The plaintiffs are hoping the suit will bring lasting change that “benefits teams, drivers, sponsors, and, most importantly, fans.”

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