NASCAR, 23XI and Front Row issue joint statement as 14 month legal battle over

NASCAR, 23XI Racing and Front Row Motorsports have issued a joint statement after reaching a settlement agreement to end their 14-month legal battle.

23XI Racing, - who are co-owned by Michael Jordan and Denny Hamlin - decided to sue NASCAR in October 2024, along with Front Row, after refusing to sign the new Cup Series charter agreement.

After over a year of going back and forth on several key issues in the antitrust lawsuit, the case finally went to trial on December 1st, and today, on day nine, a settlement was reached between the parties.

What have NASCAR, 23XI and FRM said?

After news of the agreement was revealed by Judge Bell in court, NASCAR and the two teams quickly released a joint statement.

In it, the parties stated they believe this settlement delivers 'long-term stability' to NASCAR, and argued that it reflected their shared commitment to a fair and equitable sport.

"NASCAR, 23XI Racing, and Front Row Motorsports are pleased to announce a mutually agreed-upon resolution that delivers long-term stability and creates the conditions for meaningful growth for all teams in a more competitive environment," the joint release read.

"This resolution reflects our shared commitment to maintaining a fair and equitable framework for long-term participation in America's premier motorsport, one that supports teams, partners, and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world. The agreement allows all parties to move forward with a unified focus on advancing stock car racing and delivering exceptional competition for our fans.

"With this matter now resolved, all parties look forward to working together, alongside all chartered race teams, to deliver world-class events, dynamic sponsorship and partner activation opportunities, and continued growth for generations to come."

NASCAR agrees to evergreen charters

Although the financial terms of the agreement are set to remain confidential, the statement did reveal a big win for 23XI, FRM and the remainder of the Cup Series field.

One thing teams had wanted during the last charter negotiations was permanent charters, and in getting NASCAR to agree to 'evergreen charters' as part of this settlement, it appears that they have got their way.

"As a condition of the settlement agreement, NASCAR will issue an amendment to existing charter holders detailing the updated terms for signature, which will include a form of "evergreen" charters, subject to mutual agreement," the statement continued. "The financial terms of the settlement are confidential and will not be released.

"What all parties have always agreed on is a deep love for the sport and a desire to see it fulfill its full potential. This is a landmark moment, one that ensures NASCAR’s foundation is stronger, its future is brighter, and its possibilities are greater.

"We extend our sincere thanks to Judge Kenneth Bell and mediator Jeffrey Mishkin for their professionalism, and guidance throughout this process and to their jury for their time."