All articles tagged with #charter agreement
NASCAR is facing an antitrust lawsuit from 23XI Racing and Front Row Motorsports, accusing the series of monopolistic practices and unfair negotiations over charter agreements, with high-profile owners like Michael Jordan and Denny Hamlin involved. The trial reveals tensions over revenue sharing, exclusivity clauses, and governance, highlighting concerns about NASCAR's market dominance and its impact on teams.
Denny Hamlin testified passionately against NASCAR in a federal antitrust trial, criticizing the league's business practices and the 2025 charter agreement, which he believes threaten the survival of his team and others, while also defending his public statements and business decisions amid ongoing legal disputes involving Michael Jordan's team.
23XI Racing and Front Row Motorsports will compete as open teams in the 2025 NASCAR Cup Series after NASCAR removed an anticompetitive release requirement from its open agreement. The teams are appealing to the 4th Circuit for an injunction to race as chartered teams, which would guarantee starting spots and more prize money. They have filed an antitrust lawsuit against NASCAR, accusing it of monopolistic practices. The lawsuit is on a fast track for resolution, with the first 2025 race scheduled for February 2.
Denny Hamlin has stated that it is still uncertain whether 23XI Racing will compete in the NASCAR Cup Series in 2025, following the denial of their preliminary injunction request alongside Front Row Motorsports. Both teams are involved in a lawsuit against NASCAR over antitrust claims and wish to race as charter teams next season while the litigation is ongoing. Despite the setback, 23XI Racing plans to appeal the ruling and is exploring options to expand to three full-time entries, potentially purchasing a charter from Stewart-Haas Racing.
NASCAR has finalized a seven-year broadcast deal starting in 2025 with FOX, NBC, Warner Brothers Discovery, and Amazon, which includes five races exclusively available for streaming on Amazon. The deal aims to cater to both existing and new fans by adding a direct-to-consumer streaming element. NASCAR will now focus on extending its charter agreement with teams, determining how revenue from the broadcast package will be distributed. The new agreement will see FOX Sports telecasting the first 14 events of the Cup season, while Amazon Prime will stream the next five Cup events, marking their first foray into NASCAR. TNT will telecast the following five Cup events, and NBC Sports will telecast the final 14 events of the season. The Daytona 500 will remain as the first points race, and the all-star race may be scheduled a week earlier to fit into the FOX portion.