MIAMI: NBA legend Michael Jordan reached a settlement in his anti-trust case against NASCAR on Thursday, ending a federal lawsuit that had threatened to upend the sport.
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Jordan’s 23XI Racing and the Front Row Motorsports teams had both sued NASCAR after refusing to sign the circuit’s new charters, the rules which guarantee teams entry to races and share of prize money.
Front Row and 23XI alleged the charters were unfair and did not give the teams enough rights or money.
The suit accused NASCAR and the racing circuit’s chief executive Jim France of operating without transparency, stifling competition, and controlling the sport in ways that unfairly benefit them at the expense of team owners, drivers, sponsors, partners and fans.
