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The basketball icon, introducing himself formally in a federal courtroom on Friday, admitted that his competitive side and status as a newcomer emboldened his push for 23XI Racing to confront Nascar over perceived violations of antitrust rules.

Team Investment and a Competitive Drive

The owner disclosed financial and corporate details of his 23XI team, saying he invested $40m of his personal wealth into the Cup Series operation launched with business partner Curtis Polk and longtime driver Denny Hamlin.

“Someone had to step forward,” Jordan said in the Charlotte courtroom. “I was a new person, I wasn’t afraid. I felt I could challenge Nascar in its entirety. I felt as far as the sport it needed to be looked at through a new lens.”

Central Issue: Franchise System and Contract Pressure

At issue is the expiration of a 2016 deal where Nascar granted each team a “charter”. The concept is similar to other major leagues with separately owned franchises, like the Charlotte Hornets or the Carolina Panthers. This deal was set to expire in 2024 when Nascar demanded charter membership renewals.

Jordan was on the witness stand for an hour and exited the courthouse to a media frenzy, with fans and media vying for a glimpse or a picture of the global icon.

Leading the Legal Charge

Jordan’s 23XI is at the forefront of the push along with another racing team for Nascar to change a business model Jordan said is breaking the law to keep two hands on the wheel.

At issue for Jordan and a fellow team representative, who preceded Jordan, are events from last September. Gibbs described a hectic and tense period where the racing circuit told teams they had to sign a charter agreement extension. The document spanned over a hundred pages detailing pay for chartered teams and a guaranteed spot in Nascar-sponsored races.

A Refusal to Sign

Jordan said that his team and its ally decided their only feasible option was to decline to sign that 112-page package and take the issue to court. The other 13 organizations signed the agreement.

The team owners reached out to Nascar about potential amendments or negotiations. Nascar refused to engage, according to his testimony.

The Ultimate Motivation: Victory

Ultimately, the pushback against what he saw as a unsustainable system was driven by the usual bottom line for Jordan: Success.

“Denny convinced me adding a third car improved our chances to win,” he said, sharing that he bought a third charter last year for $28m despite the uncertainty. “So I dove in.”

Account from the Gibbs Family

Gibbs described her request for permanent charters, submitted in a written letter to Nascar. She said the pressure of the signature deadline didn’t sit well.

According to her, Joe Gibbs first tried to call and persuade Nascar against forcing signatures, but CEO Jim France declined the request.

“Please don’t force this on us,” Gibbs recounted Joe Gibbs told Nascar’s executives. She said France replied, “Whether I have 20 charters, that’s what I have. If there are 30, that’s the number.”