Gifts for NASCAR Fans
23XI Racing and Front Row Motorsports have settled their antitrust lawsuit filed against NASCAR, bringing this long-running saga to an end 435 days after it began.
UPDATE: 11:15 AM EST
Following the the finalization of paperwork, the antitrust lawsuit is over, with Jeff Gluck of The Athletic reporting that Judge Bell was optimistic about the terms of the agreement, saying, “This is going to be great for the entity NASCAR, the industry NASCAR, the teams, the drivers, and as you have so often said yourselves, ultimately the fans.”
Per multiple reports following Judge Bell’s review of the settlement, both the plaintiffs and defendants, including 23XI Racing co-owners Michael Jordan and Denny Hamlin, NASCAR Chairman and CEO Jim France, and members of each side’s legal teams, are interacting with each other cordially. Specifically, several accounts claim that Hamlin and France hugged during this time.
The terms of the agreement in full are unknown, though NASCAR and the teams agreed that the teams will once again receive their six combined charters, and, per a press release from all parties, NASCAR will supply the teams with “a form of ‘evergreen’ charters, subject to mutual agreement.”
On the courthouse steps, Jordan, an NBA legend who somewhat played the face of the teams during this trial, said that cooler heads prevailed, with the sides realizing they needed to settle for the betterment of the sport, which led to the settlement of this lawsuit.
“In all honesty when you get to the finish line sometimes you have to think, not just for yourself, but you got to think about the sport as a whole, and I think both parties got to that point, and we realized that we could have an opportunity to settle this and we dove in and we actually did it.” — Michael Jordan
Shortly after resuming the trial Thursday morning, Judge Kenneth D. Bell put the court in recess, reportedly claiming that by sacrificing an hour, they could potentially save the jury several hours.
Nearly two hours later, a settlement was officially announced by 23XI Racing attorney Jeffery Kessler, bringing an end to this year-long battle between the sport and two of its charter owning organizations.
The details of this settlement are unknown as of press time, with Judge Bell set to review the settlement agreement shortly.
This is a developing story and will be updated when more information is available.
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