Jordan stated that he wants an environment where everyone has an opportunity to succeed and a system that is equitable for all teams. The five-time NBA MVP added in his statement, "I love the sport of racing and the passion of our fans, but the way NASCAR is run today is unfair to teams, drivers, sponsors, and fans." "I'm willing to fight for a competitive market where everyone wins," as demonstrated by my actions today. Front Row Motorsports owner Bob Jenkins had a similar opinion. Having spent twenty years in this racing environment, I am incredibly proud of the Front Row Motorsports team and our accomplishments. However, Jenkins stated that reform is now necessary.
"Like every other successful professional sports league, we need a more competitive and equitable system where teams, drivers, and sponsors can be rewarded for our joint investment by building long-term enterprise value." Following more than two years of talks between NASCAR and racing teams, the lawsuit was filed. The organisation that oversees motorsports sought to amend its charter, which contains the income sharing scheme. The complaint states that since its founding in 1948, NASCAR's financial model has been built on the idea that independent stock car racing teams should be able to participate in elite stock car events at venues that are mostly controlled by the Frances, the organization's controlling family. NASCAR maintained that teams will be rewarded with race victories and titles for whatever effort they put out. But although the France family benefited handsomely, even some of the most successful racing teams in NASCAR history departed the sport with little to show for it—at least not in their pockets.
According to the Associated Press, Jenkins claims that since entering NASCAR in 2005, he has never turned a profit. Although Front Row Motorsports and 23XI Racing said they did not sign the new agreements, the complaint claims certain teams felt compelled to do so. Most of the teams came to the conclusion that they had to sign as they were presented with a take-it-or-leave-it offer and there was no other chance to compete in the top stock car racing in the US. Its signing was characterised as "coerced" by one team and as "under duress" by another. NASCAR "put a gun to our head(s)" and we "had to sign," according to a third team, the complaint continues. The Cup Series of NASCAR is now competing in the Round of 12 playoffs. Teams will compete in Sunday's YellaWood 500 at Talladega Superspeedway in Alabama. The No. 45 and No. 23 vehicles of 23XI Racing are currently ranked ninth and nineteenth, respectively, in the owners' standings.
