NASCAR Settles Antitrust Suit with Two Teams

In a Charlotte federal courtroom, NASCAR reached a settlement on Thursday in the antitrust lawsuit brought by two of its race teams, including 23XI Racing, co-owned by NBA legend Michael Jordan and driver Denny Hamlin, and Front Row Motorsports. The agreement, announced on the ninth day of the trial before U.S. District Judge Kenneth Bell, ends a 14-month legal battle that stemmed from disputes over the sport's charter system and revenue sharing. Terms of the deal were not immediately disclosed.

The settlement came after an hourlong sidebar discussion during what was scheduled to be a motions hearing. Jeffrey Kessler, the attorney representing the teams, emerged from a conference room to notify the court clerk that the parties were ready to proceed. He then guided Jordan, Hamlin, and Front Row owner Bob Jenkins to another room for final negotiations. Earlier testimony had highlighted the high stakes, with an economist estimating that the teams were owed more than $300 million in damages due to alleged anticompetitive practices.

The lawsuit originated in October 2024, when 23XI and Front Row refused to sign NASCAR's new charter agreements, presented as a take-it-or-leave-it offer...