Michael Jordan’s racing team and fellow team Front Row Motorsports said NASCAR has used anticompetitive practices to prevent fair compensation in the…
Michael Jordan's NASCAR team is suing NASCAR and CEO Jim France for what it said are anticompetitive practices and monopolistic control of the sport.The suit also said teams are struggling to make reasonable profits.
The suit alleges that NASCAR and France operate without transparency, have stifled competition, and control the sport in ways that unfairly benefits them at the expense of team owners, drivers, sponsors, partners and fans. The suit said teams are struggling to make reasonable profits, while investors must put tens of millions of dollars into the team.Jenkins, of Front Row Motorsports, said he's been in the business for 20 years and has yet to make a profit.
"No other major professional sport in North America is run by a single family that enriches themselves through these kinds of unchecked monopolistic practices," the suit said. Even with four charters and 14 Cup Series championships, Jeff Gordon, Hendrick Motorsports vice chairman and a former NASCAR driver, said his race team has not had a profitable season in years, and he has"a lot of fears that sustainability is going to be a real challenge."
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