NASCAR
NASCAR Antitrust Case Resolved in Settlement Early Friday Morning
UPDATE 3: A joint statement put out by 23XI, FRM, and NASCAR confirms that “evergreen” charters have been agreed to. An amendment to the 2025 charter agreement will soon be sent out for all 15 Cup Series teams to sign. Financial terms will not be released.
UPDATE 2: A statement released by Jim France, NASCAR’s Chairman/CEO, said the following. “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 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, 2025.”
UPDATE: In a statement, 23XI Racing co-owner Denny Hamlin said “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.”
CHARLOTTE, N.C. – NASCAR’s so-called ‘trial of the century’ has been prematurely ended through a settlement. 23XI Racing and Front Row Motorsports met with NASCAR during a recess called at the court’s outset on Friday, December 11. On the ninth day of litigation, this long and arduous battle has been called off thanks to mutually-agreed terms.
Court proceedings began with the jury being called into the courtroom around 8:30 a.m. They were almost immediately sent back out for an unscheduled recess period, and told it would take an hour but to “see if we can save you several hours,” from Judge Kenneth D. Bell.
Lead plaintiff attorney Jeffrey Kessler ended this pause by telling Judge Bell “I’m pleased to say the parties have positively settled this matter in a way that will benefit the industry going forward.”
Judge Bell responded by calling the nine jurors back into the courtroom. He then explained “As so happens, an hour turns into two but we indeed saved you a great deal of time. The trial is over. Meaning, it’s over.” This revelation from the Judge was met by a few fist pumps and dances from the jury.
Bell went onto say “Thank you for your hard work. Congratulations to both parties. I wish we could have done this months ago. I think this will be great for NASCAR the entity, for NASCAR the industry, teams, drivers and ultimately for the fans, so I’m very happy at this resolution.”
At this time exact details of settlement terms are not public. This story will be updated when more information is available.
Written by Peter Stratta
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Photo Credits to Peter Stratta/TSJSports
