Michael Jordan's Racing Team Loses Injunction Against NASCAR

Michael Jordan's co-owned racing team, 23XI Racing, and Front Row Motorsports were denied a preliminary injunction against NASCAR in their ongoing antitrust lawsuit. U.S. District Judge Frank D. Whitney ruled that the teams did not demonstrate immediate, irreparable harm, as their claims were deemed speculative and uncertain. The teams argued that NASCAR's charter system limits competition and has led to coercive practices, but the judge noted they could still compete without the injunction, albeit without guaranteed race spots or revenue benefits. NASCAR's charter agreements have prompted complaints of monopolistic behavior, particularly regarding a lucrative media rights deal set to take effect in 2025. The ruling represents a setback for the teams as they navigate their legal challenges against NASCAR's practices. They have until December 2 to respond or potentially renew their motion for an injunction.