Michael Jordan, the legendary basketball icon, has officially announced his departure from NASCAR, ending his tenure as co-owner of 23XI Racing. This decision comes after a series of challenges and disputes with NASCAR’s governanc
In late 2024, Jordan and his team filed a federal antitrust lawsuit against NASCAR, alleging that the charter system, which includes revenue sharing and binding agreements with NASCAR, tracks, and suppliers, restricts competition. They argued that this system led to financial instability for teams, including 23XI Racing
Despite their legal efforts, a federal judge denied their motion to be recognized as chartered teams for the upcoming season, citing a lack of imminent harm. This ruling was a significant setback for Jordan and his team, highlighting the challenges of navigating NASCAR’s complex structure
Reflecting on his departure, Jordan expressed that the demands of managing a NASCAR team, combined with his other business commitments, were overwhelming. He stated, “I came into this sport with a passion to make a difference and bring something unique to the table.” However, he acknowledged that the level of commitment required was more than he could balance alongside his other interests
Jordan’s exit from NASCAR marks the end of a significant chapter for 23XI Racing, a team that had become a symbol of diversity and inclusion in the sport. His involvement had attracted a broader fan base, bridging the gap between traditional NASCAR enthusiasts and a more diverse audience
As Jordan steps away from NASCAR, he remains committed to his other ventures, including his ownership stake in the Charlotte Hornets and his recent investment in Courtside Ventures, a fund focusing on sports-related assets. His departure from NASCAR allows him to refocus on these interests, while 23XI Racing continues under the leadership of co-owner Denny Hamli
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