NASCAR Plans Charter Transfers Amid 23XI, Front Row Antitrust Lawsuit

NASCAR is planning to transfer one charter currently held by either 23XI Racing or Front Row Motorsports amid ongoing antitrust litigation initiated by these teams. Both 23XI Racing, co-owned by Michael Jordan and Denny Hamlin, and Front Row Motorsports declined to sign NASCAR's new charter agreement, leading to their lawsuit challenging the league's governance and financial terms. NASCAR has notified the court of its intent to issue a charter to a new, undisclosed entity, pending a district court judge's ruling on a preliminary injunction requested by the teams to prevent such a transfer. The teams seek an injunction to stop NASCAR from selling or transferring any charters and to maintain their rights to field three cars each in all Cup Series races. NASCAR argues that failure to transfer the charter would cause irreparable harm, while the teams warn they risk going out of business by 2026 without their charters. The upcoming court hearing in Charlotte will be pivotal in determining the future of charter ownership and the operational viability of these NASCAR franchises.