Team claims NASCAR rescinded approval to buy new charter unless federal antitrust suit is dropped…see full story

Team claims NASCAR rescinded approval to buy new charter unless federal antitrust suit is dropped.

Team claims NASCAR rescinded approval to buy new charter unless federal  antitrust suit is dropped - ABC News

Charlotte, North Carolina — One of the two teams suing NASCAR in federal court, Front Row Motorsports, claimed Thursday that the stock car series had refused to buy a prized charter unless the complaint was abandoned.

In a court filing, Front Row asserted that the claim pertained to its intended acquisition of the charter from Stewart-Haas Racing. According to Front Row, the series would only accept it if 23XI Racing and Front Row ceased their legal action.

In an affidavit submitted to the U.S. District Court of Western North, Jerry Freeze, general manager of Front Row, stated, “Specifically, NASCAR informed us that it would not approve the (charter) transfer unless we agreed to drop our current antitrust lawsuit against them.”

In September, NASCAR’s “take it or leave it” final offer on a new revenue sharing deal was rejected by the two teams. The agreement was signed by all 13 other teams.

Team claims NASCAR rescinded approval to buy new charter unless federal  antitrust suit is dropped - ABC News

23XI and Front Row objected and are currently in court. According to Michael Jordan, co-owner of 23XI, he fought the battle in court on behalf of every team participating in the top motorsports series in the US. NASCAR has requested that the lawsuit be dropped, claiming that the two teams simply disagree with the terms of the final charter agreement.

The goal of 23XI is to become the best team possible by competing at the top level of stock car racing. However, NASCAR has monopolized the market as the only elite stock car racing circuit, so that goal can only be pursued there, Lauletta stated. “Achieving this goal depends on our efforts to grow, which include buying more cars and becoming more visible on the track.

“To strive for excellence and compete for championships while operating within the only system available is not hypocritical,” he added. Since NASCAR’s monopoly leaves 23XI, it is essential.

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