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The basketball icon, introducing himself formally in a Charlotte court on Friday, admitted that his competitive side and novelty within the sport emboldened his effort with 23XI Racing to “challenge” Nascar over perceived violations of antitrust rules.

Financial Stakes and a Will to Win

Jordan shared financial and corporate details of his 23XI team, revealing he put in $40m of his personal wealth into the Nascar Cup series team launched with partner Polk and longtime driver Denny Hamlin.

“It fell to someone to act,” Jordan stated during testimony. “I was a new person, I had no fear. I felt I could challenge Nascar in its entirety. I felt as far as the sport required examination from a different view.”

Central Issue: Charter Agreements and Renewal Demands

At issue is the expiration of a 2016 agreement where Nascar granted each team a franchise. This system mirrors other professional sports with separately owned franchises, such as the Charlotte Hornets or the NFL’s Panthers. The agreement was due to end in 2024 when Nascar insisted on teams renew their charters.

Jordan testified for about sixty minutes and exited the courthouse to a media frenzy, with fans and media vying for a view or a picture of the global icon.

Spearheading the Fight

Jordan’s 23XI is leading the full-court press along with Front Row Motorsports for Nascar to overhaul a business model Jordan said is unlawful to keep two hands on the wheel.

For Jordan and and a fellow team representative, who preceded Jordan, are events from last September. Gibbs described a frantic and emotional six hours where the sanctioning body told teams they had to sign a contract extension. This agreement consists of over a hundred pages detailing team compensation and a guaranteed spot in Nascar-sponsored races.

Choosing Litigation

Jordan said that his team and its ally decided their only feasible option was to decline to sign that extensive document and litigate the matter. All other teams signed the agreement.

Jordan and co-owner Denny Hamlin reached out to Nascar about potential amendments or extension options. Nascar refused to engage, according to his testimony.

The Bottom Line: Victory

Ultimately, the pushback against what he saw as a financially unsustainable model was mostly about the usual bottom line for Jordan: Winning.

“Hamlin persuaded me getting a third driver improved our chances to win,” he testified, noting that he bought a third charter late in 2024 for $28 million despite the uncertainty. “So I took the plunge.”

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 was problematic.

She said, Joe Gibbs first tried to call and talk Nascar out of forcing signatures, but CEO Jim France declined the request.

“Don’t do this to 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 there are 30, that’s the number.”