"Michael Jordan took the stand on Friday in his landmark antitrust fight against Nascar, a case that could reshape how one of America's biggest sports is run. Jordan's team, 23XI Racing, and Front Row Motorsports say Nascar holds so much control over everything, from the tracks to the money to the rulebook, that teams have no real bargaining power. Nascar denies that and says the lawsuit threatens to blow up a system that has held the sport together for decades."
"Michael Jordan yes, that Michael Jordan co-owns 23XI Racing with three-time Daytona 500 winner Denny Hamlin. Together they've built one of Nascar's strongest young teams. But Jordan says the business model underpinning America's top motorsport is fundamentally imbalanced. Jordan says Nascar isn't playing fair with a system that determines who gets guaranteed entry into races, how much money they make and even the tracks where the races are held a system so central to team survival that it can make or break an entire organization."
Michael Jordan testified in an antitrust suit challenging Nascar's control over team operations and competitive access. Jordan co-owns 23XI Racing with Denny Hamlin, and together their team and Front Row Motorsports say Nascar controls tracks, money and the rulebook, leaving teams with little bargaining power. Nascar says the lawsuit threatens a decades-old system that keeps the sport together. Charters guarantee weekly race entry, are limited in number, have soared in resale value into the tens of millions, and renew only on Nascar's terms. The trial has revealed blunt internal messages and long-running tensions between teams and Nascar leadership.
Read at www.theguardian.com
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