NASCAR REPORT: Bubba Wallace Has Officially announced His is departing from NASCAR and Reason Why…..

NASCAR REPORT: Bubba Wallace Has Officially announced His is departing from NASCAR and Reason Why…..

In hopes of trying to increase the revenues and influence of NASCAR Cup Series teams, 23XI Racing and Front Row Motorsports filed a lawsuit against NASCAR and Chairman Jim France.

The teams filed the lawsuit Oct. 2 in federal court in Charlotte, claiming NASCAR’s actions violate antitrust laws.

This story will be updated with the latest developments and analysis in the case. Information comes from documents filed in the case and through conversations with those knowledgeable on antitrust issues and NASCAR racing.

NASCAR filed a counterclaim alleging that during the negotiations for a new charter agreement, 23XI co-owner Curtis Polk (long-time business manager for Michael Jordan) and the 23XI and FRM teams conspired to use tactics that violated antitrust law.

NASCAR cited Polk organizing a boycott of a charter-required team meeting with owners and trying to organize a boycott of a qualifying event (a boycott that didn’t happen). NASCAR alleges the teams colluded to get better terms in the charter agreement, that they “obtained Charter Agreements that contained more beneficial terms for race teams than would have been obtained in the absence of collusion, including terms relating to duration of the Charters and financial floors.”

Filing of counterclaims in lawsuits is not unusual. NASCAR used the filing of the counterclaim to also make its first public comments outside the courtroom with lead attorney Chris Yates taking questions on a conference call with reporters.

“We think 23XI and Front Row are misusing the antitrust laws and alleging baseless monopolization claims in order to try to force a renegotiation,” Yates said. “NASCAR has no intent and no interest in renegotiating the terms of the 2025 charter.”