Michael Jordan and NASCAR settled a federal antitrust lawsuit that accused the racing league of being a "monopolistic bully" Thursday. NASCAR agreed to make the charters at the heart of its business model permanent for Cup Series teams.
The dispute had gone on for more than a year as Jordan's 23XI Racing team competed without a charter for much of that time. Now, 23XI Racing and Front Row Motorsports, the two plaintiffs, will get their charters back after racing uncharted most of this past season.
The financial terms of the settlement were not disclosed, but an economist earlier testified 23XI and Front Row were owed over $300 million in damages.
CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM
"Today's a good day," Jordan said.
The settlement came on the ninth day of a trial before U.S. District Judge Kenneth Bell, who set aside motions hearing for an hour-long sidebar.
Front Row and 23XI filed their lawsuit last year after refusing to sign agreements on the new charter offers NASCAR presented in September 2024. Teams had until the end of one day to sign the 112-page document, which guarantees access to top-level Cup Series races and a revenue stream, and 13 of 15 organizations reluctantly agreed. Jordan and Jenkins sued instead and raced most of the 2025 season uncharted.
KYLE LARSON STEALS NASCAR CUP SERIES CHAMPIONSHIP, DELIVERS HEARTBREAK FOR DENNY HAMLIN
Both teams said a loss in the case would have put them out of business.
"What all parties have always agreed on is a deep love for the sport and a desire to see it fulfill its full potential," NASCAR and the plaintiffs said in a joint statement. "This is a landmark moment, one that ensures NASCAR's foundation is stronger, its future is brighter and its possibilities are greater."
All teams felt the previous revenue-sharing agreement was unfair, and two-plus years of bitter negotiations led to NASCAR's final offer, which was described by the teams as "take it or leave it." The teams believed the new agreement lacked all four of their key demands, most importantly the charters becoming permanent instead of renewable.
The settlement followed eight days of testimony during which the Florida-based France family, the founders and private owners of NASCAR, were shown to be inflexible in making the charters permanent.
The Associated Press contributed to this report.
Follow Fox News Digital's sports coverage on X and subscribe to the Fox News Sports Huddle newsletter.
