Exciting NASCAR Teams File Antitrust Lawsuit Against Series
Two prominent NASCAR teams, including one owned by basketball legend Michael Jordan, have taken a bold step by filing a federal antitrust lawsuit against the stock car series and chairman Jim France. The lawsuit challenges the new charter system that the teams claim limits competition and unfairly binds them to NASCAR, its tracks, and suppliers.
The teams, 23XI Racing and Front Row Motorsports, have initiated legal action in the Western District of North Carolina in Charlotte after facing contentious negotiations over the past few years. According to a copy of the lawsuit obtained by The Associated Press, the teams have accused NASCAR of being monopolistic bullies and are determined to challenge the status quo.
NASCAR presented a final offer in early September, which most teams signed under duress. However, 23XI Racing and Front Row Motorsports refused to sign, leading them to hire prominent antitrust attorney Jeffrey Kessler to represent them in the lawsuit. The teams are seeking to compete under fair terms and pursue treble damages for anti-competitive practices in place since the initial charter agreement in 2016.
NASCAR, headquartered in Daytona Beach, Florida, has not yet responded to the lawsuit, but the action taken by the two teams signals a significant shift in the landscape of NASCAR and the business model it operates on.
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