23XI Racing and Front Row Motorsports are the only two teams in NASCAR's Cup Series that have not signed a new charter agreement, which was finalized by most other teams under pressure from NASCAR's imposed deadline. 23XI Racing, co-owned by Denny Hamlin and Michael Jordan, issued a statement expressing their concerns over not having had a fair opportunity to negotiate and seeking constructive discussions with NASCAR. Allegations of coercion during the negotiations have emerged, with reports that teams felt threatened into signing agreements to avoid losing their charters, which can be valued between $30 million to $50 million. The existing charter system, introduced in 2016, has faced criticism for its unequal revenue distribution, where only 25% of TV revenue goes to the teams. The new media rights deal, valued at $7.7 billion for 2025-2031, has heightened the urgency of negotiations but has also led to increased tensions. NASCAR has yet to address the concerns raised by the holdout teams as discussions continue.