23XI Racing and Front Row Motorsports were in court, suing NASCAR for alleged anti competitive practices. On Thursday, the two sides agreed to a settlement.
The two teams will receive an undisclosed amount. 23XI and FRM will now have their charters returned.
NASCAR lawsuit settled; Comments from both sides
In turn, all charter holders will have the option to sign an updated charter agreement. Evergreen charters have entered the agreement, making the charter system permanent.
This is something that all teams were looking for during the negotiations, years ago. NASCAR has just agreed to give it to them.
Rick Hendrick, owner of Hendrick Motorsports is pleased that it’s over with…
“Millions of loyal NASCAR fans and thousands of hardworking people rely on our industry, and today’s resolution allows all of us to focus on what truly matters – the future of the sport,” Rick Hendrick stated.
“For more than 40 years, NASCAR racing has been my passion. I believe deeply in what we can accomplish when we work together.”
“This moment presents an important opportunity to strengthen our relationships and recommit ourselves to building a collaborative and prosperous future for all stakeholders. I’m incredibly optimistic about what’s ahead.”
Hendrick concluded, “When our industry is united, there’s no limit to how far we can go or how much we can grow the sport we love.”
Hendrick Motorsports lost $20M despite 2 NASCAR championships
NASCAR | Hendrick Motorsports | 23XI Racing | Front Row Motorsports
Categories
Tags
