{"id":109806,"date":"2024-10-03T06:13:08","date_gmt":"2024-10-02T23:13:08","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=109806"},"modified":"2024-10-03T06:13:08","modified_gmt":"2024-10-02T23:13:08","slug":"23xi-racing-front-row-motorsports-sue-nascar-alleging-monopolistic-practices","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=109806","title":{"rendered":"23XI Racing, Front Row Motorsports sue NASCAR alleging monopolistic practices"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>Two <a class=\"ath_autolink\" data-id=\"58\" href=\"https:\/\/www.nytimes.com\/athletic\/nascar\/\">NASCAR<\/a> teams, including one owned by basketball icon Michael Jordan, accused NASCAR of being a monopoly in a joint antitrust lawsuit filed Wednesday morning in federal court.<\/p>\n<p>23XI Racing, the team co-owned by Jordan and three-time Daytona 500 winner Denny Hamlin, joined with Front Row Motorsports to allege NASCAR and its CEO Jim France have used \u201canticompetitive and exclusionary practices\u201d to \u201cenrich themselves at the expense of the premier stock car racing teams.\u201d<\/p>\n<p>\u201cI love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair to teams, drivers, sponsors and fans,\u201d Jordan said in a statement. \u201cToday\u2019s action shows I\u2019m willing to fight for a competitive market where everyone wins.\u201d<\/p>\n<p>The disagreement stems from a long dispute related to NASCAR\u2019s so-called \u201ccharter system,\u201d which is similar to franchises for race teams. Holding a charter guarantees a starting spot in all 36 NASCAR Cup Series points races, and charter teams earn a share of the $1.1 billion per year in television money NASCAR will collect from <a href=\"https:\/\/www.nytimes.com\/athletic\/5100901\/2023\/11\/30\/nascar-tv-deal-fox-nbc-amazon-warner-bros-explained\/\">a new TV deal<\/a> starting next year.<\/p>\n<p>Teams have been trying to negotiate an extension of the original 2016 charter agreement for more than two years before it expires Dec. 31, but NASCAR refused to give teams many of the concessions they sought \u2014 including making the charters permanent.<\/p>\n<link rel=\"stylesheet\" href=\"https:\/\/theathletic.com\/app\/themes\/athletic\/assets\/css\/in-content-modules.css?1727450981\"\/>\n<div class=\"in-content-module\" data-module-type=\"book\" data-module-id=\"the-pulse-newsletter\" data-module-category=\"editorial\" data-module-type-id=\"4\">\n<div class=\"in-content-module-book\"><a class=\"in-content-module-img\" href=\"https:\/\/www.nytimes.com\/athletic\/newsletters\/the-pulse\/\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/cdn.theathletic.com\/cdn-cgi\/image\/width=400,height=400,fit=contain,format=auto\/app\/in-content-modules-images\/in-content-module-the-pulse-newsletter.png\" alt=\"The Pulse Newsletter\"\/><\/a><\/p>\n<div class=\"in-content-module-contents\">\n<div class=\"in-content-copy-container\"><a class=\"in-content-module-headline\" href=\"https:\/\/www.nytimes.com\/athletic\/newsletters\/the-pulse\/\" target=\"_blank\" rel=\"noopener\">The Pulse Newsletter<\/a><\/p>\n<p class=\"in-content-module-intro-copy long\">Free, daily sports updates direct to your inbox.\n<\/p>\n<p class=\"in-content-module-intro-copy short\">Free, daily sports updates direct to your inbox.<\/p>\n<\/div>\n<p><a class=\"in-content-module-cta\" href=\"https:\/\/www.nytimes.com\/athletic\/newsletters\/the-pulse\/\" target=\"_blank\" rel=\"noopener\">Sign Up<img decoding=\"async\" src=\"https:\/\/theathletic.com\/app\/themes\/athletic\/assets\/img\/icon-arrow-right.svg\" alt=\"Buy The Pulse Newsletter\"\/><\/a><\/div>\n<\/div>\n<\/div>\n<p>Last month, after meeting with teams individually, NASCAR told owners their offer was final \u2014 and the lawsuit alleges if enough teams did not sign it by a midnight deadline, NASCAR threatened to \u201celiminate the charter system altogether for 2025 and beyond.\u201d<\/p>\n<p>\u201cThey made a very serious threat to us, so we had to react seriously,\u201d Hamlin said in an interview.<\/p>\n<p>That reaction included 23XI (pronounced \u201c23-11,\u201d for Jordan\u2019s longtime jersey number and Hamlin\u2019s car number) and Front Row <a href=\"https:\/\/www.nytimes.com\/athletic\/5751885\/2024\/09\/07\/nascar-charter-agreement-extension\/\">declining to sign the proposed agreement<\/a> and being the only two holdouts among the current 15 charter organizations.<\/p>\n<p>Front Row owner Bob Jenkins and 23XI stand to lose their four combined charters entirely if the legal situation does not play out in their favor, and the charters have sold for as much as $40 million.<\/p>\n<p>\u201cI don\u2019t know what it\u2019s going to cost me if I lose two charters in my race team, but it\u2019s a lot of money,\u201d Jenkins said in an interview. \u201cBut it\u2019s the right thing to do. It\u2019s the right thing for the sport.\u201d<\/p>\n<p>NASCAR did not offer an immediate comment as it is reviewing the filing.<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/athletic\/5812000\/2024\/10\/02\/23xi-front-row-nascar-lawsuit-explained\/\" class=\"go-deeper\"><\/p>\n<div class=\"go-deeper\">\n<div class=\"go-deeper-img\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/static01.nyt.com\/athletic\/uploads\/wp\/2024\/10\/02093015\/GettyImages-1735639375-1024x683.jpg?width=128&amp;height=128&amp;fit=cover&amp;auto=webp\" class=\"go-deeper\" alt=\"go-deeper\"\/><\/div>\n<div>\n<p class=\"go-deeper-label\">GO DEEPER<\/p>\n<p class=\"go-deeper-title\">Why are 23XI and Front Row suing NASCAR? Here&#8217;s what you need to know<\/p>\n<\/div>\n<\/div>\n<p><\/a><\/p>\n<p>The teams claim that while even the winningest organizations struggle to break even, NASCAR has unlawfully blocked the formation or growth of any other series \u2014 thus forcing competitors \u201cto accept take-it-or-leave-it economic conditions\u201d in order to participate.<\/p>\n<p>Some of those practices alleged to be illegally monopolistic include purchasing a majority of the country\u2019s top racetracks and giving NASCAR exclusivity to those venues; forcing other NASCAR-sanctioned racetracks to abide by exclusivity agreements; purchasing NASCAR\u2019s \u201conly other recognizable stock car racing series competitor\u201d (ARCA) in 2018; prohibiting Cup teams from participating in any other stock car races; and choosing the exclusive third-party vendors to sell cars and parts to race teams while retaining ownership of all cars and parts.<\/p>\n<p>23XI and Front Row have retained attorney <a href=\"https:\/\/www.nytimes.com\/athletic\/2479522\/2021\/03\/29\/jeffrey-kessler-maybe-the-most-prominent-sports-labor-lawyer-ever-finally-argues-before-the-supreme-court\/\">Jeffrey Kessler<\/a>, whose legal victories include the creation of <a class=\"ath_autolink\" data-id=\"2\" href=\"https:\/\/www.nytimes.com\/athletic\/nfl\/\">NFL<\/a> free agency, the implementation of name, image and likeness deals in college athletics and winning equal pay for the U.S. women\u2019s national soccer team.<\/p>\n<p>Kessler told <em>The Athletic<\/em> every major sport goes through a transformation \u2014 \u201cusually by the application of the antitrust laws, sometimes some other major transformative event.\u201d<\/p>\n<p>And this lawsuit, he said, \u201cis NASCAR\u2019s moment.\u201d<\/p>\n<p>\u201cSomeone had to stand up and say, \u2018I\u2019m not going to take it anymore,&#8217;\u201d he said. \u201cThat\u2019s what these two teams have done.\u201d<\/p>\n<p>Curtis Polk, another 23XI co-owner who is Jordan\u2019s longtime business partner, said in an interview\u00a0the plaintiffs are eager to discover where all the money is actually going within NASCAR (which would be obligated to open its books as part of the legal process unless it settles).<\/p>\n<p>\u201cWe just want fairness,\u201d Polk said. \u201cIt\u2019s not about a particular issue or five particular issues. When you look at the financial inequality that exists here, how is anybody going to say that\u2019s fair?\u201d<\/p>\n<h2>Required reading<\/h2>\n<p style=\"text-align: right;\"><em>(Photo: Jared C. Tilton \/ Getty Images)<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/athletic\/5810445\/2024\/10\/02\/23xi-racing-front-row-nascar-lawsuit\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two NASCAR teams, including one owned by basketball icon Michael Jordan, accused NASCAR of being a monopoly in a joint antitrust lawsuit filed Wednesday morning in federal court. 23XI Racing, &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=109806\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-109806","post","type-post","status-publish","format-standard","hentry","category-sports","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=109806"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/109806\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=109806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=109806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=109806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}