Why are Denny Hamlin and Michael Jordan suing NASCAR?

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In 2024 driver Denny Hamlin and former professional basketball player Michael Jordan, co-owners of the stock-car racing team 23XI Racing, joined another team in filing an antitrust lawsuit against NASCAR. The plaintiffs allege that NASCAR has stifled competition, especially through its charter system. In that system, implemented in 2016, 36 charters were made available for teams to purchase. A charter grants its owner a starting spot in each race in the Cup Series and provides access to a revenue-sharing system. The lawsuit also alleges that NASCAR stifles free competition because it owns many of the tracks used for Cup Series races and mandates that teams use only certain NASCAR-approved suppliers when purchasing parts for the so-called Next Gen race car.