Today’s settlement in the NASCAR antitrust lawsuit has the racing world abuzz. Jim France released an official statement afterward. It appears that both sides have been able to come to an agreement, and that means substantial changes in the sport. 23XI Racing and Front Row earned their charters back and evergreen, permanent charters for all teams.

The teams were unable to negotiate for permanent charters in the 2025 Charter Agreement. Many owners, if not all, have expressed a desire to see charters become permanent and fully establish a franchise system like in other American sports leagues.

With the charters becoming permanent, Jim France has given in on one of his biggest sticking points. Months of litigation and eight days of a trial were all it took!

“The 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,” 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. We are excited to return the collective focus of our sport, teams and racetracks toward an incredible 78th season that begins with the Daytona 500 on Sunday, Feb. 15, 2026.”

Jim France and Denny Hamlin reportedly hugged after the settlement was announced. Both sides were able to come together, shake hands, and celebrate this outcome. Now, what’s next?

Jim France gives in on permanent charters in settlement

It is so frustrating to see this outcome in many ways. The permanent charters disagreement was always simple. NASCAR and Jim France should have adopted permanent charters in the 2025 Charter Agreement to begin with. However, they let almost a year and a half of litigation and a trial happen before giving it up.

Permanent charters are going to be good for NASCAR. Having a franchise system that has stability and a future beyond the media rights agreement is good. The value of those teams is going to go up. It will also help make NASCAR look and feel like a modern professional sports league.

Jim France is a proud man, and he should be. There are times when pride can get in the way of common sense. Still, it is a good thing that we are here. A jury deciding this case and then a judge deciding the future of NASCAR would have been tumultuous. The best time to do permanent charters was 2024, the next best time was as soon as possible. I guess this was the as soon as possible.

CHARLOTTE, N.C. — NASCAR has reached a settlement of the bruising antitrust lawsuit filed against it by two of its race teams, including one co-owned by NBA great Michael Jordan.

The Thursday settlement was announced following a lengthy delay on the ninth day of the trial in federal court. Details were not immediately released.

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U.S. District Judge Kenneth Bell opened the day preparing the hear motions but called 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, out of the courtroom to another room for more talks.

23XI and Front Row filed suit last year after refusing to sign agreements on the new charter offers NASCAR presented to teams in September 2024. Teams had until end of day to sign the 112-page document and 13 of 15 organizations reluctantly agreed. Jordan and Jenkins sued instead and raced the bulk of 2025 uncharted.

CHARLOTTE, N.C. — The trial that was destined to upend the sport of stock car racing and reimagine NASCAR’s model of business concluded with a sudden settlement on Thursday morning — and left one of the world’s most iconic sports figures smiling.

On the steps of the U.S. District Court of the Western District of North Carolina in uptown Charlotte, the site of numerous acrimonious proceedings the past two weeks and over the lawsuit’s 14 months, 23XI Racing’s principal owner Michael Jordan said a lot with just a few words.

“I’ve said this from Day One, the only way this sport’s going to grow is if we find some synergy between the two entities,” said Jordan, who was encircled by media, high-profile NASCAR executives, team owners and members of all legal teams.

To his immediate right was his longtime business partner, Curtis Polk, and to his immediate left was CEO and chairman of NASCAR Jim France. The three of them were at the center of the lawsuit and then ensuing trial that threatened to tear the largest American motorsport apart. The Cup teams sued NASCAR in October 2024 on the grounds that the private company was an unlawful monopoly — one that used anti-competitive practices to strengthen itself and weaken the teams.

“We’ve gotten to that point,” Jordan continued, referencing the “synergy” he and his stakeholders desired with NASCAR. “Unfortunately it took 16 months to get here. But level heads got us to this point to where we can actually work together and grow this sport. I’m very proud of that. And I think Jim feels the same.”

Jordan announced this triumph nearly 20 minutes after District Judge Kenneth Bell summoned the attention of the Potter Courtroom and told the nine-member jury that the antitrust case pitting two Cup Series teams against the sanctioning body had been settled.

Bell, at the conclusion of reading the settlement papers, said that he was pleased with the result — adding that such a resolution is “great for the entity of NASCAR” and that most importantly, “it will be great for the fans.”

Added Bell: “Sometimes the parties just have to see how the evidence unfolds to come to the wisdom of a settlement.”

Full details of the settlement weren’t disclosed by attorneys in or out of court Thursday. In a statement, NASCAR noted that the “financial terms of the settlement are confidential and will not be released.” The teams asked the court for $367 million; NASCAR contested that number with its own expert, who provided testimony Wednesday.

This said, the plaintiffs’ lead attorney, Jeffrey Kessler, told reporters that as a result of the deal, each Cup Series team with charters will have their charters be “permanent,” or evergreen — a massive win for the teams.

“We are delighted to tell the world of NASCAR and its fans that this case has been settled,” Kessler said. “We believe it’s a settlement that’s going to grow this sport, that’s going to be great for the teams and NASCAR, but most importantly, for the fans.

“This case was filed 15 months ago. It was never just about 23XI. It was never just about Front Row. It was about trying to do something that was great for everyone. And as part of this deal, we are going to have evergreen charters. They are going to be available for everyone.”

Representation on both sides — as well as Judge Bell — wanted the case to be resolved before trial began Dec. 1. But as the trial approached, both plaintiff and defendant sources indicated that a mid-trial settlement was unlikely. That changed Thursday, when the court broke for a nearly two-hour long recess as the two sides brokered a deal.

Once court concluded Thursday, several key stakeholders in the case met and shook hands. That included Jordan, Kessler, members of the France family, France Enterprise’s attorney John E. Stephenson, lead NASCAR attorneys Chris Yates and Lawrence Buterman, and others.

As for the sides’ sudden and collective change of heart?

“Level heads,” Jordan offered, a smile peeking through. “In all honesty, sometimes when you get to the finish line, you have to think not just for yourself but for the sport as a whole. I think both parties got to that point, we realized we got the opportunity to settle this, we dove in, and we actually did it.”

Added France: “We can get back to focusing on what we really love, which is racing. We’ve spent a lot of time not really focused on that so much. Not as much as we need to be. I feel like we’ve made a very good decision here, together, and we have a big opportunity to continue growing the sport.”

The controversial charter agreement, and an end to NASCAR’s long legal battle

The antitrust trial that had taken place over the past nine weekdays rehashed many of the arguments and counter-arguments that the ardent follower might’ve expected.

The Cup teams explained to the jury that NASCAR “locked up” many of the tracks with exclusivity agreements that prevented other premier stock car racing series from entering the sport. The teams also asserted that NASCAR’s unilateral institution of the Next Gen car — a vehicle of which the teams need to buy parts from a NASCAR-approved supplier — was anti-competitive and more specifically forced costs to rise, a fact NASCAR executives fervently disagreed with.

The main discussion point, however, concerned the 2025 charter agreement. This document that defined NASCAR’s model of business, as well as the years of negotiations leading up to its implementation, was not merely a source of tension throughout the industry but was the catalyst that ultimately led to the teams’ lawsuit.

In other words: Telling the story of the agreement goes a long way in telling the story of the legal battle.

The tale begins in 2016. That’s when NASCAR, at the behest of its Cup teams, established the charter system. Charters can be understood by being compared to “franchises.” Just like the Carolina Panthers are owned by David Tepper but belong to the NFL, 23XI Racing is owned by Jordan and Hamlin but belong to NASCAR.

Owning one of the Cup Series’ 36 charters essentially awards an asset to the teams — ones that appreciate and depreciate as the sport fares over time. Charters over the past decade have largely ballooned in enterprise value, and teams have made capital gains by selling them — to the tune of tens of millions of dollars. 23XI purchased their third charter earlier this year for approximately $28 million, for instance.

The advent of the charter system was universally applauded. After all, charter members were awarded certain benefits. Among them: chartered teams were guaranteed entry into every Cup race and thus were guaranteed a slice of each race’s purse. This was a big step forward from the previous system where every team each ran as “open” teams — and had to qualify for every race, every weekend.

But come 2023, the Cup teams approached NASCAR executives and told them that the sport’s economic model was broken. The teams said they were too reliant on sponsorships and didn’t have enough streams of revenue to put together a sustainable business — and with the 2016 deal expiring ahead of the 2025 season, teams pushed to have those needs addressed.

The main solution teams lobbied for was the institution of permanent, or “evergreen,” charters, ones that can’t be taken away every handful of years when the current charter agreement was up. The teams, as several owners testified in court over the past two weeks, wanted “a legitimate partnership” with NASCAR as opposed to the contractor-to-employer relationship they navigated now, they said.

NASCAR saw it differently. Jim France, son of Bill France Sr. who founded the auto racing series in 1948, testified earlier this week that he felt it was not prudent to commit to anything for such a long time.

“I don’t know how you can set anything in this changing world as permanent,” France testified. “There are more than just teams that are involved in this sport.”

The 2025 charter agreement was ultimately put in front of teams in September 2024. Thirteen of the 15 teams signed, though multiple owners who signed testified that they felt like they had no recourse given the fact that NASCAR was the only purchaser of their services as a premier stock car racing team — a “monopsony,” in other words.

The two teams that didn’t sign — 23XI and FRM — ended up suing the sport and sparking a long legal battle that culminated into the trial that concluded with a settlement Thursday.

The plaintiff race teams did not have their trial for the final 16 races of the 2025 season. They raced “open,” as required by a ruling in September. That has been rectified, too, as a result of the settlement, according to Kessler.

“As part of today’s resolution, 23XI’s and Front Row Motorsports’ charters have been returned for the 2026 season,” Kessler wrote in a statement.

Statements from NASCAR, 23XI Racing, Front Row Motorsports, Jim France

Here are the written statements of many of the prominent stakeholders in the trial.

— From NASCAR: “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. …

“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.”

— From 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.”

— From 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.”

— From Bob Jenkins, owner of Front Row Motorsports: “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.”

— From 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 racetracks toward an incredible 78th season that begins with the Daytona 500 on Sunday, Feb. 15, 2026.”

©2025 The Charlotte Observer. Visit charlotteobserver.com. Distributed by Tribune Content Agency, LLC.

On Day 14 of the long-awaited 23XI Racing and Front Row Motorsport versus NASCAR antitrust lawsuit, a settlement has finally been reached between the sides, bringing proceedings to a premature close.

The trial had dragged on for over a year, with the two teams having initially filed the lawsuit, alleging “monopolistic” behaviour from NASCAR, in October 2024, a month after the controversial new charter agreement was signed by all teams barring Denny Hamlin and Michael Jordan’s 23XI and Bob Jenkins’ FRM.

A legal back-and-forth followed throughout the year, with the teams’ combined six charters having been forced to race as “open” teams for much of the 2025 season after an initial preliminary injunction was overturned in NASCAR’s favor.

As the season came to a close, with Hamlin’s No. 11 Joe Gibbs Racing Toyota team narrowly missing out on its maiden championship at Phoenix Raceway, the war of words between the sides truly escalated as the pre-trial discovery process unearthed some damning comments from both sides, including with relation to Hall of Famer Richard Childress from NASCAR commissioner Steve Phelps, which prompted the 80 year old to threaten a lawsuit of his own in response.

After depositions and cross-examinations involving all of the major players involved, on Thursday morning, it emerged that talks were ongoing regarding a settlement, one which swiftly came to a conclusion, although, as Jordan admitted when speaking with reporters, both sides “compromised” during negotiations.

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However, when pressed on the matter, Hamlin remained tight-lipped, speaking to Bob Pockrass, simply saying, “I feel like everything within this settlement is going to grow the sport and it’s going to be better for everyone, there’s no doubt about it.”

Hamlin later took to social media, where he said, “Standing up isn’t easy, but progress never comes from staying silent. The reward is in knowing you changed something.”

As for some of the disparaging comments which emerged from Hamlin during the pre-trial process, he told reporters, “This is a marriage. I mean, any marriage, you’ve got to have…If I didn’t have people having checks and balances on me, then I’d do everything I could to win races. 

“And so you always need people within a company to make sure that everyone’s… the business is running properly. And that’s essentially what we were trying to protect with this lawsuit, is to essentially make sure that this team’s here for the long run.”

Looking forward, Hamlin also confirmed that he plans to continue racing for JGR, brushing aside a suggestion he could switch to 23XI, saying, “No, I got a contract with Gibbs for the next two years, and now, thankfully, I can focus on that.”

The settlement was heralded by Judge Kenneth Bell, who had presided over the trial, calling it “the right thing to do,” and adding 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 for the finalities of the settlement, the joint statement from the three involved parties remained hesitant to delve into the details, saying simply, “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.”

The NASCAR world breathed a collective sigh of relief on Thursday after a settlement was reached in the drawn-out antitrust lawsuit filed by 23XI Racing and Front Row Motorsports against the organization.

Originally filed in October 2024, it centered around the latest charter agreement, which every team, barring 23XI and FRM, signed up to prior to NASCAR’s strict September 6 deadline. In the lawsuit, the teams accused NASCAR of “monopolistic” behaviour, leading the two sides down a twisting path which ultimately saw the two teams lose their six charters and race as open teams for much of the season.

NASCAR’s reputation also took a beating, particularly in recent weeks, as messages from executives began to emerge, including some from commissioner Steve Phelps viciously attacking team owner and Hall of Famer Richard Childress, who subsequently threatened a lawsuit of his own. This also led to a scathing letter from Johnny Morris, the founder, majority owner, and CEO of longtime NASCAR sponsor Bass Pro Shops.

Throughout the 13 days that the court was in session, it emerged that both Joe Gibbs Racing and Childress’ team, RCR, had also been hesitant to sign the charter agreement, feeling all but powerless to do so in the end with NASCAR seemingly unwilling to negotiate. Another team owner who had expressed concerns about the agreement was Rick Hendrick of Hendrick Motorsports, who wrote NASCAR CEO Jim France a letter detailing his worries.

Now with a settlement having been reached, which includes “evergreen” charters, Hendrick has released a statement expressing his excitement moving ahead.

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“Millions of loyal NASCAR fans and thousands of hardworking people rely on our industry, and today’s resolution allows all of us to focus on what truly matters – the future of our sport,” he wrote.

“For more than 40 years, NASCAR racing has been my passion. I believe deeply in what we can accomplish when we work together. This moment presents an important opportunity to strengthen our relationships and recommit ourselves to building a collaborative and prosperous future for all stakeholders.

“I’m incredibly optimistic about what’s ahead. When our industry is united, there’s no limit to how far we can go or how much we can grow the sport we love.”

With “evergreen” charters now in place, teams can be assured of their futures essentially in a permanent basis, with charters no longer set to expire alongside media rights deals as was the case previously.

However, as was made clear in a joint statement after the settlement was confirmed, “The financial terms of the settlement are confidential and will not be released.”

As for Judge Kenneth Bell, who had presided over the often contentious proceedings, he commended the sides on reaching a settlement, labeling it simply “the right thing to do,” while adding that he believes “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.”