NASCAR has agreed to grant permanent charters to racing teams—including one co-owned by basketball legend Michael Jordan—in a landmark settlement of a federal antitrust lawsuit. The deal ends a high-stakes legal battle that accused NASCAR and the France family of monopolistic control over stock car racing and opens the door to a new era of team equity and stability.
The lawsuit, filed by multiple teams including Jordan’s 23XI Racing, challenged NASCAR’s longstanding refusal to issue permanent charters, claiming teams were strong-armed into an unfair revenue-sharing model. The legal filing described NASCAR as “monopolistic bullies” who exploited their dominant position to suppress the financial rights of race teams.
While the financial terms remain undisclosed, the permanent charter agreement is considered a major victory for teams seeking long-term investment protection and influence within the sport. In a joint statement, NASCAR and the race teams emphasized their “shared commitment to maintaining a fair and equitable framework” that benefits fans and stakeholders alike.
Michael Jordan called the case a turning point for the sport. “It was about making sure our sport evolves in a way that supports everyone,” he said. “With a foundation to build equity and invest in the future… we now have the chance to grow together and make the sport even better for generations to come.”
Curtis Polk, a co-owner of 23XI Racing, described the settlement as a shift toward “a more sustainable model” for teams, aligning them more closely with NASCAR’s operations and financial structure.
Jordan’s testimony in court revealed a personal connection to the sport and a willingness to confront what he viewed as entrenched power dynamics. “Someone had to step forward and challenge the entity,” he testified. “I was a new person, I wasn’t afraid.”
The agreement marks a major change in how NASCAR operates. Until now, race teams operated under renewable charters granted at NASCAR’s discretion. With permanent charters, teams now gain more control over their future and assets, similar to franchise models in the NFL, NBA, and MLB.
NASCAR CEO Jim France said the agreement will allow the organization to deliver “unforgettable racing moments,” while offering greater flexibility and long-term security for all parties.
Founded in 1947 by Bill France Sr., NASCAR has grown from a regional Southern circuit to a national sport with races across North America. The 2026 season will likely be the first to reflect the new permanent charter structure.
