Since October 2024, NASCAR’s ‘monopolistic practices’ have been under the spotlight. In controlling the racetracks, the movement of NASCAR charters, and the rights of teams to compete, the sanctioning body’s power was visible. And Michael Jordan and Co. sought to expose that and the anticompetitive ways in which NASCAR used it. As the past two weeks dangerously leaned in Jordan’s favor, NASCAR had no choice but to reach an agreement. However, as they say, people never change.

Agreement on NASCAR charters reflects old authority

“Sounds like framework of evergreen charters: -2/3rds of teams need to OK renewal -if don’t sign renewal, still chartered & get year or possibly more to sell charter -if don’t meet certain performance standards, must sell but get time to sell -nascar gets 10% of sale (was 2%),” Bob Pockrass updated on X.

These appear to be the new terms for the NASCAR lawsuit’s recent settlement. On Thursday, NASCAR managed to appease the plaintiff teams, 23XI Racing and Front Row Motorsports, by giving back the teams’ charters, which they lost earlier this year. Additionally, teams will now get ‘evergreen’ or permanent and non-renewable NASCAR charters. However, as Bob Pockrass updated, NASCAR is back to exercising its authority post-lawsuit as those permanent charters come with conditions.

“Source, and this is murky because there’s going to be a Thursday afternoon call to discuss new charter model: Teams will now share in international revenue for the first time, the three-strike rule will be reinstated as a five-strike rule, teams will get 1/3 of revenue from IP, charter revenue will have to be periodically negotiated amidst new media rights deals,” journalist Jenna Fryer posted about the new NASCAR charters shortly before Bob Pockrass’ update.

During Jim France‘s testimony, the NASCAR CEO divulged how he was simply following his family’s traditions. The core principles that Bill France Sr., the founder of the sport, passed down to his two sons are what shaped Jim’s hardline stance with teams as NASCAR chairman in negotiations for the 2025 revenue-sharing agreement.

Nevertheless, for now, the two sides are temporarily enjoying a truce.

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Warm feelings spread across both sides

A few weeks ago, a settlement conference took place. But the NASCAR executives and team ownership who attended that meeting could not reach a conclusion. Although they wanted to settle ahead of the championship weekend, they were unsuccessful. So the eventual agreement during the NASCAR charters’ trial set off waves of relief across both sides. Jim France hugged Denny Hamlin, a co-owner of 23XI Racing. Hamlin, Michael Jordan, and their attorneys headed to a Charlotte steakhouse for a celebratory lunch. Hamlin posted a photo on Instagram of a toast with his compatriots.

“I’ve said this from Day 1: Only way this sport is going to grow is we have to find some synergy between the two entities, and I think we’ve gotten to that point,” Michael Jordan said outside the courthouse. “Unfortunately, it took 16 months to get here, but I think level heads got us to this point, where we can actually work together and grow this sport. I’m very proud about that. And I think (France) feels the same.”

“We can get back to focusing on what we really love, and that’s racing,” Jim France said. “We spent a lot of time not really focused on that as much as we need to be. So I feel like we’ve made a very good decision here together, and we have a big opportunity to continue growing the sport.”

Nevertheless, the NASCAR lawsuit’s sequel may be gearing up for another dramatic showdown. Let’s wait and see what unfolds.