What’s Happening?

23XI Racing and Front Row Motorsports have settled their antitrust lawsuit filed against NASCAR, bringing this long-running saga to an end 434 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

NASCAR reached a settlement Thursday of the bruising antitrust lawsuit filed against the stock car series by two of its race teams, including one co-owned by NBA great Michael Jordan.

“Today’s a good day,” Jordan said as he waited in the gallery for attorneys to announce the deal. Details were not immediately released.

The settlement came on the ninth day of the trial before U.S. District Judge Kenneth Bell, who set aside motions hearing for an hour-long sidebar. Jeffrey Kessler, attorney for 23XI Racing and Front Row Motorsports, emerged from a conference room at the end of the hour to inform a court clerk “we’re ready.” Kessler then led Jordan and 23XI co-owner Denny Hamlin, as well as Front Row owner Bob Jenkins, to another room for more talks.

“I’m pleased to say that the parties have positively settled this matter in a way that will benefit the industry going forward,” plaintiffs’ attorney Jeffrey Kessler said, according to The Athletic.

23XI and Front Row filed their lawsuit last year after refusing to sign agreements on the new charter offers NASCAR presented in September 2024. Teams had until end of 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.

Both teams said a loss in the case would have put them out of business.

Bell told the jury that sometmes parties at trial have to see how the evidence unfolds to come to the wisdom of a settlement.

“I wish we could’ve done this a few months ago,” Bell said in court. “I believe this is great for NASCAR. Great for the future of NASCAR. Great for the entity of NASCAR. Great for the teams and ultimately great for the fans.”

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 in which the Florida-based France family, the founders and private owners of NASCAR, were shown to be inflexible in making the charters permanent.

“Someone had to step forward and challenge the entity,” Jordan said to the jury. “I sat in those meetings with longtime owners who were brow-beaten for so many years trying to make change. I was a new person, I wasn’t afraid. I felt I could challenge NASCAR as a whole. I felt as far as the sport, it needed to be looked at from a different view.”

When the defense began its case Wednesday it seemed focused more on mitigating damages than proving it did not act anticompetitively.

An economist earlier testified 23XI and Front Row were owed over $300 million in damages.

Parella Motorsports Holdings and SpeedTour have announced the acquisition of Racing America, a premier digital-first motorsports media platform delivering live streaming, original content, and year-round coverage of amateur and stock car-adjacent racing.

The acquisition unites one of the largest live-event portfolios in grassroots motorsports with the industry’s leading digital content and distribution platform – creating the most expansive, fully integrated motorsports media and events network in North America. The combined business will operate under the Racing America brand and will be headquartered in Charlotte, N.C. The combined company’s promotional video is available for viewing here.

Velocity Capital Management, an operationally intensive private equity firm with deep expertise in sports, media and entertainment, acquired the company in December 2023. Under Velocity’s ownership, the company has grown through strategic acquisitions, including MotorsportsReg.com, the industry’s leading registration and fan-engagement platform, and International GT, a classic-car racing series for late-model Porsche and Ferrari vehicles. The Racing America acquisition marks the Company’s third strategic acquisition under Velocity’s ownership. Velocity’s strategic partner, the Texas Permanent School Fund Corporation, was instrumental in originating the opportunity to acquire Racing America through its long-standing relationship with its ownership group and continues to provide both capital and industry insight to accelerate the Company’s growth.

“This acquisition marks a defining moment in our evolution and the next chapter for grassroots racing in this country,” said Lee Giannone, CEO of the newly formed Racing America. “By combining our national live-events platform with Racing America’s digital capabilities, we’re creating the foundation for the future of motorsports – one that connects fans and competitors year-round, expands global reach, and positions Racing America as the definitive home for grassroots and professional racing alike.”

With Racing America’s digital production and streaming capabilities layered onto the company’s nationwide live-event footprint – including the Trans Am Series presented by Pirelli, Sportscar Vintage Racing Association, Formula Regional Americas Championship, Formula 4 United States Championship, Ligier Junior Formula Championship, and International GT – the combined organization becomes the industry’s largest single source of live racing, original content, and behind-the-scenes access.

“This marks a new era for Racing America as we expand from a digital media platform into a fully connected motorsports network,” said Colin Smith, president of Racing America. “With Velocity Capital Management’s support, we will broaden our content and technology offerings, stream more live events, and deliver the rich storylines that motorsports fans want to see.”

“Racing America is uniquely positioned to accelerate fan interest and participation in grassroots and amateur motorsports,” said Erin Edwards, partner at Velocity Capital Management. “Our goal is to make grassroots racing accessible to everyone while providing passionate fans with more ways to engage with the sport they already love.”

As part of the transaction, Jeffrey Wolf, Velocity Operating Partner and former media executive at E.W. Scripps and Sony Pictures, will become chairman of the board.

“Transforming the company from an events business into a broader motorsports entertainment platform is central to our growth strategy,” Wolf said. “Today’s fans expect compelling storytelling, premium production, and behind-the-scenes access. With Racing America, we can deliver all of that – and more.”

Following the acquisition, the company will transition to operate exclusively under the Racing America brand. The unified platform will feature:

• Nationwide live racing events
• Best-in-class streaming and digital production
• Original and documentary-style content
• A growing direct-to-consumer subscription offering
• Expanded engagement opportunities for fans, partners, and series competitors

Terms of the transaction were not disclosed.

Racing America’s 2026 season kicks off at Sebring International Raceway on Feb. 26, 2026.

This morning, as the jury came into the federal courtroom in Charlotte, North Carolina, they were told to go into recess for one hour. NASCAR, 23XI Racing and Front Row Motorsports have now agreed on a settlement to end this trial and this antitrust lawsuit.

The arguments in the antitrust trial were supposed to wrap up on Friday. Closing arguments likely would have taken place on Monday. However, this morning, the two legal teams came to Judge Kenneth Bell, and soon after, the jury was asked to leave for a one-hour recess.

After speaking with the judge, the attorneys for the teams and NASCAR have agreed on a settlement. Talk about timing. Had this settlement not happened today, this trial would have gone to the jury. At that point, it would be out of NASCAR’s hands. Many fans are breathing a huge sigh of relief.

Jeffrey Kessler, attorney for 23XI Racing and Front Row Motorsports, informed the court that “the parties have positively settled this matter.” This lawsuit will soon be over.

We won’t know the details for a while. However, you would have to assume that 23XI and Front Row are going to get their charters back and likely other concessions. Did the letter from Johnny Morris of Bass Pro Shops help move this along? It feels like it may have.

Just yesterday, attorney Christopher Yates was talking about potentially bringing up an appeal regarding the exclusion of a witness. Today, NASCAR’s legal team walks in ready to settle the case. That’s the way things go in big-time law sometimes.

NASCAR settlement: Did Richard Childress do this?

It is very interesting the timing of Richard Childress’ testimony, followed by the Johnny Morris letter, and now we’re here. NASCAR and the teams have a settlement. That is something that seemed impossible over the last 12+ months of litigation.

With literally hours remaining in this trial, just today, Friday, and maybe some on Monday, it is last-minute. So, I think it is valid to ask ourselves, what role did Childress and Morris play in getting this settlement done?

Kessler told the court that all terms have been agreed upon. I’m not sure if that means there are large concessions from NASCAR or just enough to settle this case and save the France family from any further issues. In terms of public opinion, they had no chance of winning in that courtroom.

The NASCAR settlement will be a relief to many. Kessler seems to believe it will be beneficial for all. However, that remains to be seen. When we get the details, NASCAR could still look different in 2026.