michael jordan breaks silence after inking new two-year contract with….

In a significant development within the NASCAR community, Michael Jordan’s 23XI Racing team has secured a preliminary injunction allowing them to compete as a chartered team in the 2025 season. This legal victory comes amid an ongoing antitrust lawsuit against NASCAR, highlighting tensions over revenue sharing and competition terms.

The dispute began in September 2024 when 23XI Racing, co-owned by NBA legend Michael Jordan and NASCAR driver Denny Hamlin, declined to sign a new charter agreement proposed by NASCAR. The team argued that the agreement was one-sided and did not provide an opportunity for fair negotiation. In a statement, 23XI Racing asserted, “We did not have an opportunity to fairly bargain for a new Charter contract.”

Following their refusal to sign, 23XI Racing, along with Front Row Motorsports, filed an antitrust lawsuit against NASCAR, alleging monopolistic practices. The lawsuit contended that NASCAR’s control over the charter system stifled competition and left teams with little room for fair negotiations.

The preliminary injunction, granted by U.S. District Court Judge Kenneth D. Bell, permits both 23XI Racing and Front Row Motorsports to participate as chartered teams in the upcoming season. This status guarantees them prize money, a secured spot in each race, and other financial benefits. Additionally, the ruling allows both teams to purchase charters from the now-defunct Stewart Haas Racing, enabling their planned expansion to three cars each.

Expressing his satisfaction with the court’s decision, Denny Hamlin took to social media, exclaiming, “YESSSSSSS!!!!!!!”

This legal victory was crucial for 23XI Racing, as it prevented potential significant financial losses and contractual breaches with sponsors and drivers. Notably, driver Tyler Reddick had an opt-out clause in his contract that would have been activated if the team failed to secure a charter for the 2025 season.

The lawsuit against NASCAR is set to continue, with 23XI Racing and Front Row Motorsports seeking to address broader concerns about revenue sharing and competition fairness within the sport. NASCAR has not yet responded to the recent court ruling or indicated whether it plans to appeal the decision.

This development underscores the ongoing challenges and negotiations within NASCAR as teams advocate for more equitable terms and greater influence over the sport’s governance. The outcome of this legal battle could have lasting implications for the structure and operations of NASCAR in the years to come.