The way NASCAR had long done business had become obsolete, but the antitrust suit brought by Michael Jordan and settled on Thursday, changes that.
NASCAR has reached a settlement of the bruising antitrust lawsuit filed against it by two of its race teams, including one co-owned by NBA great Michael Jordan.
An economist testified in Michael Jordan's federal antitrust trial against NASCAR that the racing series owes a combined $364.7 million in damages to the two teams suing it over a revenue-sharing dispute.
Retired NBA great Michael Jordan testified Friday at the NASCAR antitrust trial that "someone had to step forward and challenge the entity" over its current business model.
The antitrust suit against NASCAR goes to court on Monday, in a trial that could tear at the fabric of stock car racing as we know it.
The landmark federal antitrust trial against NASCAR opened Monday with an emotional Denny Hamlin and Michael Jordan looking on from the gallery.
NASCAR commissioner Steve Phelps said "we are trying our hardest" to settle the federal antitrust lawsuit with the two teams suing the racing series in the most expansive comments yet from the defendants.
A federal judge on Wednesday denied two teams -- one owned by NBA Hall of Famer Michael Jordan -- a preliminary injunction in their antitrust suit against NASCAR to be recognized as chartered teams for the remainder of the season.