Breaking: NASCAR Settles Lawsuit With 23XI Racing and Front Row Motorsports, Makes Team Charters ‘Evergreen’

NASCAR has come to a settlement with 23XI Racing and Front Row Motorsports over the antitrust lawsuit brought by the teams, the attorney for the plaintiffs has announced.

“I’m pleased to say the parties have positively settled this matter in a way that will benefit the industry going forward,” Jeffrey Kessler said, according to The Athletic reporter Jeff Gluck, who is inside the court.

Presiding judge Kenneth Bell told the court that the settlement is “great for NASCAR the entity, for NASCAR the industry, teams, drivers and ultimately for the fans, so I’m very happy at this resolution,” Sports Business Journal’s Adam Stern reported.

“Thank you for your hard work. Congratulations to both parties. I wish we could have done this months ago… I think this will be great for NASCAR and for all of you. Most importantly, it will be great for fans,” Bell told the jury as he dismissed it, reporter Matt Weaver posted.

NASCAR, 23XI Racing and Front Row Motorsports released a statement saying that, while the financial terms of the settlement are confidential, it includes a “a form of ‘evergreen’ charters, subject to mutual agreement,” that will be presented to all of the chartered teams. The six charters held by 23XI Racing and Front Row Motorsports that were revoked this season after they didn’t sign the latest agreement are being returned to the teams. All of the teams have been lobbying NASCAR to offer some sort of permanent charter.

23XI Racing co-owner Michael Jordan said outside the court that “level heads” prevailed.

When you get to the finish line, sometimes you have to think not just for yourself, but you have to think about the sport as a whole and I think both parties got to that point and we realized that we could have an opportunity to settle this and we dove in and we actually did it,” Jordan said. “Unfortunately, it took us that long, but we got here, that’s all that matters.”

This is a breaking news story, check back for updates

LISTEN AND SUBSCRIBE TO THE GAS: AN AMERICAN CARS AND RACING PODCAST