NASCAR Still Believes It Can Stop Michael Jordan and Others from Buying $50 Million in SHR Assets ……………
In a significant legal development, 23XI Racing and Front Row Motorsports have secured a preliminary injunction allowing them to compete as chartered teams in the 2025 NASCAR season. This decision also permits their acquisition of additional charters from Stewart-Haas Racing (SHR), valued at approximately $50 million.
The injunction, granted by U.S. District Court Judge Kenneth D. Bell, enables both teams to expand their operations by purchasing one charter each from SHR, which ceased operations at the end of 2024. This move is crucial for 23XI Racing, co-owned by NBA legend Michael Jordan and driver Denny Hamlin, as it ensures their drivers, including Tyler Reddick and Bubba Wallace, remain under contract with guaranteed charters.
Despite this legal victory for the teams, NASCAR has expressed intentions to challenge the ruling. The organization argues that the court’s decision was based on a misinterpretation and is seeking to overturn the injunction.
This ongoing legal battle highlights the tensions between NASCAR and team owners over the charter system and revenue-sharing agreements. The outcome of this case could have significant implications for the sport’s governance and the financial dynamics between NASCAR and its teams.
