Legendary NASCAR team owners Roger Penske and Rick Hendrick have released separate statements after the stock car racing series reached a legal settlement with two of its teams.
23XI Racing - who are co-owned by Michael Jordan and Denny Hamlin - decided to sue NASCAR in October 2024, along with Front Row Motorsports, alleging anticompetitive and monopolistic practices.
This came after the two teams were the only Cup Series outfits not to sign up to the new Cup Series charter agreement, set to run through 2031.
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 on Thursday, a settlement was reached between the parties.
As part of the agreement, Cup Series teams are set to get 'evergreen' charters, which is a major win not only for 23XI and Front Row, but the wider Cup Series field.
Roger Penske statement after NASCAR 23XI settlement
Of course, that includes Team Penske, who run three cars in the Cup Series with Austin Cindric, Ryan Blaney and Joey Logano.
And, as the day progressed, Roger Penske himself spoke out, expressing great delight that an agreement had been reached between the involved parties.
"Today's settlement is tremendous news for the industry," Penske wrote.
"We are stronger together as a sport and the agreement today allows all of us to focus on what's important, the continued growth of NASCAR.
"The sport has never been more competitive and today's resolution provides the entire industry with a platform that strengthens our business and allows us to continue to entertain our millions of passionate fans in a unified way."
Rick Hendrick also speaks out
Elsewhere, Hendrick Motorsports chief Rick Hendrick also spoke out after new of the agreement.
Hendrick had written a scathing letter to NASCAR CEO Jim France during charter negotiations in 2024, so it's no surprise to hear he is happy that a settlement that involves permanent charters has now been reached.
In a public press release, Hendrick said: “Millions of loyal NASCAR fans and thousands of hardworking people rely on our industry, and today’s resolution allows all of us to focus on what truly matters – the future of our sport.
"For more than 40 years, NASCAR racing has been my passion. I believe deeply in what we can accomplish when we work together. This moment presents an important opportunity to strengthen our relationships and recommit ourselves to building a collaborative and prosperous future for all stakeholders.
"I’m incredibly optimistic about what’s ahead. When our industry is united, there’s no limit to how far we can go or how much we can grow the sport we love.”
