23XI Racing and Front Row Motorsports got their “evergreen charters,” also referred to as “permanent franchises,” after NASCAR settled its ongoing antitrust trial on Thursday. A settlement was reached between the parties a week and a half after the trial began in a North Carolina court, just shy of 14 months after they initially filed their antitrust lawsuit.

In October 2024, 23XI and FRM launched an antitrust lawsuit against NASCAR, accusing the sanctioning body of monopolistic practices for refusing to sign the latest charter agreement. Nearly 14 months of legal back-and-forth culminated at the start of this month, as the case went to trial before Judge Kenneth Bell.

Concerns were raised over the long-term future of premier stock car racing, regardless of the trial’s outcome. However, barely after NASCAR began its defense, an official settlement was reached between the two parties. Judge Bell commended both sides for reaching an agreement.

The full details of the settlement have yet to be released, but key players on both sides have now expressed a desire to move forward together and are excited for NASCAR’s future. “From the beginning, this lawsuit was about progress. It was about making sure our sport evolves in a way that supports everyone: teams, drivers, partners, employees, and fans,” 23XI co-owner and NBA legend Michael Jordan said. “With a foundation to build equity and invest in the future and a stronger voice in the decisions ahead, we now have the chance to grow together and make the sport even better for generations to come. I’m excited to watch our teams get back on the track and compete hard in 2026.”

NASCAR CEO and Chairman Jim France added: “This outcome gives all parties the flexibility and confidence to continue delivering unforgettable racing moments for our fans, which has always been our highest priority since the sport was founded in 1948. We worked closely with race teams and tracks to create the NASCAR charter system in 2016, and it has proven invaluable to their operations and to the quality of racing across the Cup Series. Today’s agreement reaffirms our commitment to preserving and enhancing that value, ensuring our fans continue to enjoy the very best of stock car racing for generations to come. We are excited to return the collective focus of our sport, teams and race tracks toward an incredible 78th season that begins with the Daytona 500 on Sunday, Feb. 15, 2026.”

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The “financial terms of the settlement are confidential and will not be released,” according to 23XI and FRM. However, one major win in the settlement was revealed, with NASCAR agreeing to “evergreen charters,” which are “subject to mutual agreement.”

What are ‘evergreen charters’?

“Evergreen charters” is a fancy way of saying permanency. Permanent franchises were a key component of the antitrust lawsuit, with NASCAR initially determined not to offer charter status beyond the life of any current media rights contract, which took effect this year.

23XI, FRM, and fellow NASCAR competitors can now have their “forever franchises,” which will guarantee their long-term security in the Cup Series. Other team owners, such as Joe Gibbs and Richard Childress, expressed concerns over NASCAR’s last charter agreement, which they had signed.

In his testimony in court, Childress stated that permanent charters would secure RCR’s future. “I knew financially I couldn’t lose my Charter,” Childress said during his 50 minutes of testimony. “We are a blue-collar operation and proud of it. If we didn’t sign the Charter agreement in 2024, we would have lost them (two Cup Charters).”

“I would like for it (Richard Childress Racing) to be running 60 years from now, but with this current business model we can’t do it,” Childress continued.

“We continue to build enterprise value (with the PBR franchise),” the 80-year-old Childress added. “It wouldn’t cost NASCAR anything to give us full franchises like the PBR (a franchise Childress purchased in the Professional Bull Riders Association for $3 million).”

North Florida Motorsports Park plans a 600-acre development in Nassau County.

A map with the announcement this week shows the park on undeveloped land north along County Road 108 west of Interstate 95 near the Florida Welcome Center rest stop. Access to the park is from County Road 108.

RELATED: Motorsports complex gets green flag in Palatka

The park says it will feature a racetrack designed by Bobby Rahal, the 1986 Indy 500 winner and International Motorsports Hall of Fame inductee. Rahal is also a partner in the project.

Read the rest of this story at the Jacksonville Daily Record, a Jacksonville Today news partner.

A historic settlement has been reached between 23XI Racing, Front Row Motorsports, and sanctioning body NASCAR, bringing an end to 13 months of bitter legal warfare. 23XI, co-owned by Michael Jordan, NASCAR superstar Denny Hamlin, and Curtis Polk, teamed up with Bob Jenkins’ FRM, launching an antitrust lawsuit against the sanctioning body in October 2024, accusing it of using monopolistic practices after refusing to sign up to the charter agreement.

A bitter 13 months followed in a lawsuit that saw several shocking twists, including a preliminary injunction being granted in December 2024, only to be overturned by an appeal in June of this year, forcing the two Cup Series outfits to race the remainder of the 2025 season as “open” teams. The legal blow prompted a bullish response from Hamlin, who claimed “all will be exposed” at trial, a few months before he bitterly missed out on a maiden Cup Series championship, suffering a devastating heartbreak at Phoenix early last month.

The trial officially began on December 1 despite Judge Kenneth Bell warning of the harm that could be done to both parties and the sport. An ugly light was shone on some aspects of NASCAR’s operations before a settlement was officially reached barely after the sanctioning body began its official defense in court.

Judge Bell congratulated both parties for settling, and hailed the historic agreement as “the right thing to do,” and that “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.”

As revealed in a joint team statement, NASCAR will “issue an amendment to existing charter holders detailing the updated terms for signature, which will include a form of ‘evergreen’ charters, subject to mutual agreement.” In contrast, the “financial terms of the settlement are confidential and will not be released.”

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Jordan, Hamlin, and Polk of 23XI, Jenkins of FRM, and NASCAR CEO and Chairman Jim France have all released optimistic statements following the conclusion of the antitrust trial. There’s joint excitement about the future of stock car racing.

Michael Jordan: “From the beginning, this lawsuit was about progress. It was about making sure our sport evolves in a way that supports everyone: teams, drivers, partners, employees, and fans. With a foundation to build equity and invest in the future and a stronger voice in the decisions ahead, we now have the chance to grow together and make the sport even better for generations to come. I’m excited to watch our teams get back on the track and compete hard in 2026.”

Denny Hamlin: “I’ve cared deeply about the sport of NASCAR my entire life. Racing is all I’ve ever known, and this sport shaped who I am. That’s why we were willing to shoulder the challenges that came with taking this stand. We believed it was worth fighting for a stronger and more sustainable future for everyone in the industry. Teams, drivers, and partners will now have the stability and opportunity they deserve. Our commitment to the fans and to the entire NASCAR community has never been stronger. I’m proud of what we’ve accomplished, and now it is time to move forward together and build the stronger future this sport deserves.”

Curtis Polk: “My goal as a member of the Team Negotiating Committee was to help create an economic model that would create a more sustainable model for teams and create a more equitable and transparent system within NASCAR. This settlement achieves significant progress toward the Four Pillars. The result brings NASCAR and the chartered teams into better alignment and supports future growth and sustainability for all stakeholders and a better sport for the fans.”

Bob Jenkins: “After more than 20 years in this sport, today gives me real confidence in where we’re headed. I love this sport, and it was clear we needed a system that treated our teams, drivers and sponsors fairly and kept the competition strong. With this change, we can finally build long-term value and have a real voice in NASCAR’s future. I’m excited for the road ahead — for the people in the garage, the folks in the stands and everyone who loves this sport.”

NASCAR CEO & Chairman Jim France: “This outcome gives all parties the flexibility and confidence to continue delivering unforgettable racing moments for our fans, which has always been our highest priority since the sport was founded in 1948. We worked closely with race teams and tracks to create the NASCAR charter system in 2016, and it has proven invaluable to their operations and to the quality of racing across the Cup Series. Today’s agreement reaffirms our commitment to preserving and enhancing that value, ensuring our fans continue to enjoy the very best of stock car racing for generations to come. We are excited to return the collective focus of our sport, teams and race tracks toward an incredible 78th season that begins with the Daytona 500 on Sunday, Feb. 15, 2026.”

The trial between Michael Jordan’s 23XI Racing and NASCAR is over, with Jordan and Co. coming out as the big winner.

Jeffrey Kessler, the attorney representing Jordan’s 23XI Racing and Front Row Motorsports in the teams’ antitrust lawsuit against NASCAR, told Judge Kenneth Bell that the parties had reached a settlement Thursday “in a way that will benefit the industry going forward.”

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That “way” is what the two sides are calling “evergreen charters” — which are essentially permanent team charters, the main sticking point between Jordan’s side and NASCAR.

“From the beginning, this lawsuit was about progress,” Jordan said in a statement after the settlement. “It was about making sure our sport evolves in a way that supports everyone: teams, drivers, partners, employees and fans. With a foundation to build equity and invest in the future and a stronger voice in the decisions ahead, we now have the chance to grow together and make the sport even better for generations to come.”

Per the terms of the settlement, the financial agreements between the teams and NASCAR will not be publicly disclosed.

What was the trial about?

The future of NASCAR, really.

In 2016, NASCAR implemented charter agreements, NASCAR’s version of franchising. The charter agreement were not in perpetuity, but they provided 36 teams guaranteed entry into every race of the season and a larger share of purse money than “open” (or non-charter) teams.

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The old charter agreement expired at the end of the 2024 season in concurrence with NASCAR’s previous media rights deal. In the fall of 2024, NASCAR presented teams with a new charter agreement that would run from 2025-2031. Given less than one day to agree to the new agreement — which NASCAR said was its final offer after months of contentious negotiations — most teams signed on. Two did not. 23XI, co-owned by Michael Jordan and driver Denny Hamlin, and Front Row Motorsports held out.

They, along with many other teams who signed the deal, wanted the charters to be permanent, but NASCAR and the France family, the sanctioning body’s longtime owners, didn’t acquiesce to that request.

NASCAR granted teams a larger portion of media rights money in the current charter agreement, however the sanctioning body and its tracks continue to receive the majority of revenue. Teams have said that costs have skyrocketed in recent years and especially since the implementation of NASCAR’s “NextGen” car in 2022. Teams are forced to use NASCAR-approved, single-source suppliers to build their cars instead of building many of their own parts in-house.

23XI and Front Row accused NASCAR of monopolistic and anticompetitive behavior as NASCAR gave teams just hours to sign its final charter offer in September of 2024. Because they didn’t sign the charter agreement, the two teams forfeited their charter status for the 2025 season. After a legal back-and-forth which saw them temporarily regain those charters, 23XI and Front Row raced as open teams for much of the 2025 season.

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The two sides spent the last few months wrangling for a settlement but were unable to come to an agreement. On Dec. 1, the two sides — 23XI/Front Row and NASCAR — went to court, an all-or-nothing proposition for Jordan who likely would have shut his team down had he lost.

The trial

Jordan said on the stand that he felt he needed to challenge NASCAR and that attorneys advised him that the charter agreement could be in violation of antitrust laws. The charter agreement included a non-disparagement clause that teams needed to agree to.

Over eight days, some of NASCAR’s biggest names — Jordan, Hamlin, team owner Richard Childress — along with executives — Jim France, NASCAR’s principal owner; commissioner Steve Phelps; and president Steve O’Donnell — took the stand in Charlotte, North Carolina, where both sides made their case. In simplistic terms, the Jordan side argued they’re losing money because NASCAR is keeping too much of it, NASCAR arguing the current agreement provides stability for a sport in an uncertain time.

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Maybe the most impactful testimony came from Heather Gibbs, daughter-in-law of longtime team owner and former NFL coach Joe Gibbs and co-owner of Joe Gibbs Racing. Heather Gibbs explained that while they did sign the new charter agreement, it came “like you have a gun to your head.”

“We said we have to sign this,” Gibbs testified, per Fox Sports. “We can’t lose this. We have too many employees. … I did not think it’s a fair deal for the teams.

“… If you don’t sign it … everything is gone.”

Before the trial reached its ninth day, the two sides came to an agreement.

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As part of the settlement, both 23XI and Front Row will receive their charters back.

“This outcome gives all parties the flexibility and confidence to continue delivering unforgettable racing moments for our fans, which has always benefited our highest priority since the sport was founded in 1948,” Jim France said. “We worked closely with race teams to create the NASCAR charter system in 2016, and it has proven invaluable to their operations and to the quality of racing across the Cup Series. Today’s agreement reaffirms our commitment to preserving and enhancing that value, ensuring our fans continue to enjoy the very best of stock car racing for generations to come.”

23XI Racing is one of NASCAR’s newest Cup Series teams. The team, co-owned by Jordan, his longtime business manager Curtis Polk and current Cup Series driver Denny Hamlin, began in 2021 with Bubba Wallace and has since expanded to a three-car team.

Front Row Motorsports is also a three-car team and has fielded cars in the Cup Series since 2005.

The teams had expanded from two to three cars ahead of the 2025 season as each reached an agreement to purchase a charter from the now-defunct Stewart-Haas Racing. Because of the lawsuit, those deals had officially been on hold, though they’ll now be allowed to close.

“I’ve cared deeply about the sport of NASCAR my entire life,” Hamlin said. “Racing is all I’ve ever known, and this sport shaped who I am. That’s why we were willing to shoulder the challenges that came with taking this stand. We believed it was worth fighting for a stronger and more sustainable future for everyone in the industry. Teams, drivers and partners will now have the stability and opportunity they deserve. Our commitment to the fans and to the entire NASCAR community has never been stronger. I’m proud of what we accomplished, and now it is time to move forward together and build the stronger future this sport deserves.”

Jeffrey Kessler is known as one of the top antitrust attorneys in the U.S., and on Wednesday, he lived up to that title. He took NASCAR’s own witnesses and used their testimony to tear apart the defense.

It was a masterclass. Like peak-era Michael Jordan, Kessler didn’t just win exchanges; he controlled every move. He set traps, and NASCAR’s witnesses stepped right into them.

How 23XI Used NASCAR’s Own Witnesses to Make Its Case

NASCAR has leaned on one argument again and again: losing this case could destroy the sport financially. They’ve tried to make NASCAR seem fragile, saying big changes or large damages could threaten its survival.

It’s a classic corporate defense strategy. Make the jury scared of what their verdict might do to thousands of jobs, to a beloved American sport, to the France family legacy. But Kessler saw through it. And more importantly, he had the receipts to prove it was nonsense.

As Adam Stern noted on X, Kessler has been subtly weaving a brilliant counter-narrative throughout his cross-examinations.

“A theme that Jeffrey Kessler has subtly tried to get NASCAR’s own witnesses to testify to is how Covid showed it could adjust. Kessler is signaling to the jury that NASCAR’s own actions show it would adjust if it had to pay damages or change its model, not go out of business,” the Sports Business Journal reporter wrote.

NASCAR didn’t break during the pandemic years. Like any other sporting discipline, NASCAR experienced a significant decline in revenues at the time. But the organization weathered the storm.

It rewrote schedules, built safety systems from scratch, and found smart ways to keep racing on track. All this proves that NASCAR is stable enough to survive large financial shocks. And now Kessler is using that very resilience as part of his attack.

The reason Kessler’s strategy hits so hard is that it cuts straight into NASCAR’s main defense. Monopolies and dominant companies always fall back on the same claim: antitrust action will hurt them. It’s a familiar script.

Kessler is making it clear that NASCAR isn’t looking for protection because the sport is weak. They’re really asking the jury to let them hold onto their monopoly, even though they’ve proved over and over that they can adjust when needed.

The COVID example works because it’s recent and undeniable. Everyone saw sports leagues rebuild themselves in 2020, and NASCAR was one of the ones that made it work.

So when they now say they can’t adjust their business model or handle possible damages without falling apart, it doesn’t sound believable. The jury has seen evidence, from NASCAR’s own witnesses, that they can.

• 23XI and FRM sought US$365m in damages
• Both teams will have their charters returned from next season
• Nascar will issue updated charter agreement to all teams soon

Nascar has reached a settlement with 23XI Racing and Front Row Motorsports, bringing its long-running legal battle with two of its teams to a close.

While the details of the settlement have not been confirmed, a key outcome from this compromise will be the creation of permanent charters. It is known from the trial that 23XI and FRM sought US$365 million in damages from Nascar if they won the case, but financial details were not disclosed. 23XI and FRM will also have their charters returned to them for the 2026 season.

‘Nascar, 23XI Racing, and Front Row Motorsports are pleased to announce a mutually agreed-upon resolution that delivers long-term stability and creates the conditions for meaningful growth for all teams in a more competitive environment,’ a joint statement released by all parties read.

‘This resolution reflects our shared commitment to maintaining a fair and equitable framework for long-term participation in America’s premier motorsport, one that supports teams, partners, and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world.

‘The agreement allows all parties to move forward with a unified focus on advancing stock car racing and delivering exceptional competition for our fans.

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‘With this matter now resolved, all parties look forward to working together, alongside all chartered race teams, to deliver world-class events, dynamic sponsorship and partner activation opportunities, and continued growth for generations to come.

‘As a condition of the settlement agreement, Nascar will issue an amendment to existing charter holders detailing the updated terms for signature, which will include a form of “evergreen” charters, subject to mutual agreement. The financial terms of the settlement are confidential and will not be released.

‘What all parties have always agreed on is a deep love for the sport and a desire to see it fulfill its full potential. This is a landmark moment, one that ensures Nascar’s foundation is stronger, its future is brighter, and its possibilities are greater. We extend our sincere thanks to Judge Kenneth Bell and mediator Jeffrey Mishkin for their professionalism, and guidance throughout this process and to their jury for their time.’

23XI and FRM filed a lawsuit last year after being offered a take-it-or-leave-it contract by Nascar for the current cycle of charter agreements. At the time, 13 of the 15 teams decided to sign the agreement, but 23XI and FRM held firm in their belief that the series’ approach represented monopolistic practices.

23XI and FRM raced for most of the 2025 season unchartered in pursuit of their goal, which now looks to have paid off handsomely.

BlackBook says…

Finally, the shadow of this year-long feud no longer looms over the future of Nascar.

It is not an exaggeration to say that if Nascar had not relented, a victory for the teams would have proved catastrophic for the championship. Indeed, Judge Bell had previously hinted that he felt the charter system itself could be verging on monopolistic, so this appears to be the best outcome for both sides.

It became increasingly clear over the eight days of testimony that Nascar was fighting a losing battle, especially as the defence began to shift its argument to prove that the series did not owe as much as the teams claimed, rather than fighting against the claim entirely.

What this case does for the positions of commissioner Steve Phelps and president Steve O’Donnell remains to be seen, but Nascar chief executive Jim France noticeably struggled on the witness stand.

The focus now will be on repairing strained relationships and convincing the teams that the current leadership structure is the right one to move Nascar in the right direction.