The New Black View
Amsterdam News has been reporting the news of the day from a Black perspective for 113 years. Donors who choose to give monthly or annually will receive Amsterdam News’ Weekly E-Edition and acclaimed weekday newsletter Editorially Black to their inbox!FILE - 23XI Racing co-owner Michael Jordan stands in the pit area during a NASCAR Cup Series auto race at Talladega Superspeedway, Sunday, April 21, 2024, in Talladega. Ala.
NASCAR in early September presented its final offer on what is essentially a revenue sharing model; 13 organizations signed, with most saying they did so under duress or felt threatened into doing so. “Everyone knows that I have always been a fierce competitor, and that will to win is what drives me and the entire 23XI team each and every week out on the track,” said Jordan, the retired NBA superstar. “I love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair to teams, drivers, sponsors and fans. Today’s action shows I’m willing to fight for a competitive market where everyone wins.
Front Row owner Bob Jenkins has maintained he’s never turned a profit since forming his team in 2005. He won the Daytona 500 in 2021 with driver Michael McDowell, and failed to break even in that banner season. “The teams knew that fielding a NASCAR car had become so expensive that it would be economically devastating for most of them to compete without even the modest revenue sharing and stability provided by the charter system and the complete loss of their charter values if the charter system was discontinued,” the lawsuit claims. by the negotiations. 23XI Racing and Front Row held out but their motivation remained unclear until Wednesday’s court filing.
The lawsuit maintains that NASCAR until 2016 operated under year-to-year contracts that provided no long-term viability to any team. There was no guaranteed entry into any Cup Series event or prize money, and teams depended on individual sponsorships they had to find themselves.
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