Michael Jordan's 23XI Racing among two holdouts on NASCAR new charter deal

HAMPTON, Ga. — Co-owned by basketball icon Michael Jordan and NASCAR driver Denny Hamlin, 23XI Racing is one of two NASCAR Cup Series organizations that did not sign NASCAR's proposed charter agreement that most owners signed Friday night.

Front Row Motorsports, owned by restaurant operator Bob Jenkins, also has not signed.

The teams and NASCAR have been negotiating for two years, and, according to industry sources, teams were told Friday night that if they didn't sign the latest proposal that night, they could risk losing their charters for 2025.

Curtis Polk, who has an interest in 23XI and has been Michael Jordan’s long-time business manager, spoke to reporters from FOX Sports, The Athletic and The Associated Press in the Atlanta Motor Speedway garage on Sunday afternoon.

"NASCAR has consistently refused to deal with 23XI in these negotiations," Polk said. "We are David facing Goliath, NASCAR has superior bargaining power and undue influence over the sport and the charter process.

"They wielded this power continuously over the past few months and consistently rejecting broad team requests on major issues while providing minor changes for pet issues that some teams requested in 1-on-1 meetings."

NASCAR President Steve Phelps declined comment Sunday afternoon. Front Row Motorsports owner Bob Jenkins also declined comment.

Polk said the proposed agreement took away "essential rights" but would not go into the specifics of the team's requests it sent to NASCAR in a letter sent last week.

"We understand that some teams may have felt pressured and compelled to sign the agreement under significant duress," Polk said. "While other teams may have signed the charter agreement, 23XI Racing faces our own challenges that make these