NASCAR Seeks to Mediate Antitrust Lawsuit with Michael Jordan’s Teams
In a recent move, NASCAR has requested a judicial settlement conference from a federal court. The goal is for an independent judge to mediate the antitrust lawsuit filed by 23XI Racing, owned by Michael Jordan, and Front Row Motorsports. NASCAR’s request seeks to involve a judge to facilitate negotiations and offer a perspective on how a jury might interpret the complex antitrust case. In response, 23XI Racing and Front Row Motorsports have expressed their desire to continue working with Jeffrey Mishkin, who has been mediating between the parties this year. Mishkin, former executive vice president and general counsel of the NBA, has invested considerable time in the case.The teams argue that Mishkin possesses extensive experience in antitrust disputes related to sports and has acted as an arbitrator or mediator in major international sports organizations. The opposing motions come as NASCAR seeks a summary judgment to dismiss the case before the trial begins, scheduled for December 1. A hearing on that motion is scheduled for October 21. The core of the dispute lies in the protection of NASCAR’s franchise system, known as the “charter” system, which is fundamental to its business model. A year ago, 13 of the 15 existing teams renewed their contracts as they did not reach a better agreement. 23XI, co-owned by Jordan and Denny Hamlin, and Front Row Motorsports, owned by Bob Jenkins, opted for the legal route. For months, other teams have expressed concern about the uncertainty generated by the demand. Although Mishkin has not made significant progress in the negotiation, NASCAR is now seeking the intervention of a federal judge to help resolve the situation. Most NASCAR teams have requested an agreement and protection of the “charter” system. NASCAR hopes the settlement conference will facilitate an agreement, given the interest of all parties in resolving the case. All parties, including Michael Jordan, have expressed their willingness to reach an agreement, although they have also expressed their willingness to go to trial if necessary.Mr. Mishkin has invested a great deal of time in learning about this case and meeting with the parties.
23XI and Front Row
I’m looking forward to going all the way. If I have to fight until the end, for the good of the sport, I will. We have always been open to an agreement. We always have been. We have never taken that off the table.
Michael Jordan
