CHARLOTTE, N.C. — Some of the most powerful names in stock car racing have voiced their support for NASCAR’s charter system — the same system that is at the center of the antitrust lawsuit that has been consuming the sport.

Rick Hendrick, Richard Childress, Joe Gibbs and Roger Penske are among the many high-profile people who have released declarations in support of the current charter system. The statements were released as part of NASCAR’s motion for summary judgment Friday evening.

All of the statements said essentially the same thing: The lawsuit between NASCAR and plaintiffs 23XI Racing and Front Row Motorsports must be resolved in a way that keeps the charter system in place — even if the teams mostly agree that the charter agreement is imperfect.

“The Charter system has delivered on the teams’ goal of creating long-term equity value, as evidenced by the increasing sales prices of Charters in recent years,” said Hendrick, who is the majority owner of Hendrick Motorsports, the all-time winningest Cup Series team in NASCAR. “I believe the potential loss of Charters (i.e., reverting to the system that was in place prior to 2016, as opposed to improving upon the current Charter system) represents an existential threat to Hendrick Motorsports and other Cup Series race teams. It would jeopardize our business and risk the jobs of thousands of people who rely on our industry.”

Hendrick went on to write that as the 2016 charter agreement was set to expire in 2024, negotiations for a new charter agreement “had reached a stalemate.”

“While by no means does the 2025 Charter Agreement reflect what we hoped to achieve, the teams were able to secure a reasonable revenue increase,” Hendrick continued. “The Charter agreement is critical to the stability of the NASCAR ecosystem — the teams, the businesses that support us and NASCAR itself.

“Undoing what we have collectively negotiated will not only result in immeasurable damage to our sport and our respective businesses, it will, most importantly, hurt the people and families that depend on us for their livelihoods.”

What is the lawsuit about?

Whether the teams publicly support the current charter system has been a point of contention throughout the lawsuit.

23XI Racing, co-owned by sports icon Michael Jordan and Cup driver Denny Hamlin, and Front Row Motorsports sued NASCAR in October 2024 in a Charlotte court on the grounds that NASCAR is a monopoly. 23XI and FRM did so after they declined to sign the new charter agreement NASCAR presented to teams in September 2024; they were the only two of the 15 Cup Series teams that did not sign the deal.

NASCAR contends that 23XI and FRM were hoping to use this litigation as a negotiation tactic, to better the terms of the charter deal. The plaintiff teams, meanwhile, have said they are fighting for the betterment of NASCAR Cup teams after NASCAR pressured the teams to sign the current charter agreement — a sign of their monopsonistic power, they claim. The Cup teams “have more to gain in the long run by growing the sport for everyone,” the plaintiffs’ legal representation wrote in a statement they shared exclusively with The Charlotte Observer for a September story.

“Today’s filing demonstrates that NASCAR’s charter system has the support of race teams throughout the garage, and that the 23XI Racing and Front Row Motorsports lawsuit is not in the best interests of the sport,” reads a statement released by NASCAR. “This lawsuit is not about antitrust; it is merely an attempt to renegotiate an agreement that was signed and is being honored by all other race teams.

“Together with our race team partners, we remain committed to delivering the best of stock car racing to our fans every weekend through our championship on Nov. 2, including this Sunday on the ROVAL at Charlotte Motor Speedway.”

In a statement, lead attorney for 23XI and FRM Jeffrey Kessler wrote Friday that “the declarations submitted by the various teams are supportive of my clients’ position,” and that “my clients are not, and never have been, seeking to eliminate the charter system.”

“They have supported charters because teams cannot survive without them,” Kessler’s statement continued. “The declarations from team owners and executives acknowledge this same economic reality. Nor do they excuse NASCAR’s anticompetitive conduct or its unlawful monopoly, points 23XI and Front Row have maintained from the start. Many teams have expressed a desire to resolve this matter, a goal my clients share, but NASCAR has yet to demonstrate a similar willingness to engage in meaningful resolution.”

Kessler concluded his remarks stating that “NASCAR’S new motion changes nothing and we look forward to presenting our case at trial on December 1.”

More support from NASCAR team owners

Roger Penske, who owns Team Penske and has five Cup Series championships to his name, released a statement saying that “the charter system has been beneficial because it delivered on the race teams’ goal of creating long-term equity value.”

“My belief in the value of the NASCAR Charter system is confirmed by the fact that, based on my experience with NASCAR’s Charter system since 2016, I decided to create a Charter-type system in IndyCar,” Penske wrote in a statement. Penske owns and operates the IndyCar racing series. “In 2024, the NTT INDYCAR SERIES and all teams racing full time in IndyCar entered into a charter agreement effective for the 2025 season. The IndyCar Charter has some similarities to the NASCAR Charter, and I believe has brought value to our series.”

Joe Gibbs, owner of Joe Gibbs Racing, wrote that the “most important thing to me is that this lawsuit is resolved amicably, quickly and in a manner that preserves the charter system and the long-term viability of our incredible sport.”

Said Richard Childress, owner of RCR: “As a team owner for many decades, I believe in the concept of NASCAR’s Charter system. Given the challenging business model and economics that Cup Series team owners face, Charters are essential to creating enterprise value for teams. The Charter system has helped create long-term equity value and has allowed for team equity value to grow.”

The lawsuit’s trial is set for December, though the two sides will meet for a hearing in front of Judge Kenneth Bell on Oct. 21. That hearing will take place in Charlotte and will litigate a separate summary judgment brought forth by the plaintiffs regarding NASCAR’s counterclaims.

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