Federal Appeals Court Sides with NASCAR, Vacates Injunction in High-Profile Antitrust Case Involving Michael Jordan’s Racing Team
CHARLOTTE, N.C. — A federal appellate court has sided with NASCAR in an ongoing antitrust case involving two race teams, one owned by basketball legend Michael Jordan. A three-judge panel vacated an injunction that required the teams, 23XI and Front Row Motorsports, to be recognized as chartered entities while their legal dispute progresses. The two teams filed suit against NASCAR late last year after they opted not to endorse renewed charter agreements. NASCAR’s charter system, akin to franchise agreements in various sports, allows charters to be revoked and are subject to expiration. While 13 other … Read more