NASCAR teams 23XI and Front Row seek urgent court order to retain charters
23XI Racing and Front Row Motorsports are locked in a lengthy legal battle over the charter system, which is the equivalent of the franchise model in other sports. 23XI, owned by retired NBA great Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row, owned by entrepreneur Bob Jenkins, last September rejected NASCAR's final proposal on extensions and instead filed an antitrust suit.
The case is winding its way through the court system but now with urgency: the teams are set to lose their charters Wednesday and in the latest filing, they allege NASCAR has indicated it will immediately begin the process of selling the six tags that guarantee entry into every race as well as monetary rewards and other benefits.
Should the teams have their six combined charters revoked, the drivers would have to qualify on speed to make each week's race and would receive a smaller percentage of the purse. They may also have to refund money paid out through the first 20 races of the year.
NASCAR accused 23XI and Front Row of filing 'a third motion for another unnecessary and inappropriate preliminary injunction' and noted it has made multiple requests to the teams "to present a proposal to resolve this litigation.
'We have yet to receive a proposal from 23XI or Front Row, as they have instead preferred to continue their damaging and distracting lawsuit,' NASCAR said in a statement. "We will defend NASCAR's integrity from this baseless lawsuit forced upon the sport that threatens to divide the stakeholders committed to serving race fans everywhere.
"We remain focused on collaborating with the 13 race teams that signed the 2025 charter agreements and share our mutual goal of delivering the best racing in the world each week, including this weekend in Dover.'
Later Monday, Rick Ware Racing and Legacy Motor Club had a scheduled court date in North Carolina over their fight for a charter. Legacy, owned by seven-time NASCAR champion Jimmie Johnson, contends it had an agreement with RWR to lease one of its two charters in 2026.
RWR contends the agreement was for 2027 and it already has a contract with RFK Racing to lease that team a charter next season.
___
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
14 minutes ago
- Daily Mail
Pharmacy that outlasted Walgreens, CVS and Rite Aid to close in days after 117 years
Legendary California pharmacy Central Drug Store will be closing its doors for the last time on Tuesday after 117 years. Owner and operator Jerry Tonelli announced the San Francisco store would be shuttering following his retirement. The store has outlasted pharmacy empires like Walgreens, CVS and Rite Aid, along with various mail order services. While the closure has come as a shock to some customers, Jerry assured them that it was his decision to close the store and that he was leaving on his own terms. 'It is time for all of us to start a new phase in our lives and spend more time with our families,' he wrote in a Facebook post. The longtime store has been in the same building since 1918 and was purchased by the Tonelli family in 1965. Jerry took over the store in 1978 following the death of his father and has worked with family members like his brother, Paul, who also owns a share of the business. With other relatives uninterested in taking over the business, Jerry began measures to close up, including thanking loyal customers and patients. The Tonelli family's pharmaceutical run began when Dino Tonelli, Jerry's father, began working at the store in 1949. The late employee had graduated from a pharmacy school at UCSF and served in World War II before taking over the business, but not before meeting his wife. 'My mother started working here when she was 16, and she died in 2023 at the age of 96,' Jerry told CBS News. 'So, she had quite a run here, and this was her favorite part of the store because she used to do all the buying for the cosmetics, for the perfumes.' His parents teamed up in keeping the business strong before Dino's death, leaving Jerry to learn by 'trial and error' in his thirties. The soon-to-be-retiree managed to keep the business going and made new friends along the way that were grateful for his help. 'We get a lot of people from other countries that don't have health insurance and don't want to see a doctor,' he revealed. 'They'll come in and ask this and ask that and try to treat them with over-the-counter medication to help them out.' Several customers have shared memories and in store experiences on social media Many customers have shared memories and stories of how Central Drug Store has helped them in some way while growing up. 'As a young girl in the 50s my mom, Tosca Chiantelli and I came in your store every Saturday and looked at everything in the displays and picked up prescriptions and necessities,' a Facebook user wrote. The customer continued by saying she visited the pharmacy regularly in the 70s and 80s, and how happy she was about the pharmacy continuing to help her parents for decades. 'I used to love going into the drugstore with my mom as a little girl. Silvana was always my favorite at the make up counter,' another social media user commented. Longtime customer Fran Colombo has been going to the store for the last 50 years explained the family would make everyone feel special as soon as they walk in the door. She was also touched by Jerry escorting her husband to his car, saying his action went 'above and beyond.' Now that the store is shuttering, Colombo is trying to figure out what to do next, and is questioning what other customers will do. 'I'm kind of computer savvy, but what about the people who aren't, who are just used to the walking in and calling in a prescription and walking in and picking it up? What are they going to do?,' she asked. Jerry was concerned the pharmacy would shut down because of pharmaceutical empires Jerry admitted that one of his biggest concerns was independent pharmacies being forced out by various pharmaceutical empires. However, some of those companies have been struggling in recent years. Rite Aid, a once-popular chain with over 5,000 stores, filed for bankruptcy in 2023 and again in May this year. It is now planning to shutter all its stores. The status of CVS has also been concerning since the chain planned to close 900 stores by the end of 2024. Currently operating over 9,000 US locations, CVS is also set to shutter hundreds of stores this year. If that wasn't enough, Walgreens has been in the process of shuttering 1,200 stores, including 450 this year. While the pharmaceutical crisis continues to be on the rise, Jerry will be busy golfing, spending time with family, and continuing to help people by volunteering at hospitals or shelters.
Reuters
31 minutes ago
- Reuters
Asian shares rise, dollar strengthens ahead of US earnings; JGB yields surge
TOKYO, July 15 (Reuters) - Asian shares climbed and the dollar held gains on Tuesday as trade talks remained in the spotlight in a week that will see key readings on U.S. inflation and bank earnings. Oil prices edged lower after U.S. President Donald Trump issued a 50-day deadline for Russia to end the war in Ukraine to avoid energy sanctions. Japanese government bonds yields jumped to multi-decade high as a critical upper house election neared. Trump signalled he was open to discussions on tariffs after his weekend threat to impose 30% duties on the European Union and Mexico from August 1. Japan is reportedly trying to schedule high-level talks with the U.S. this Friday. Market reaction to the tariff uncertainty has been rather benign, making earnings in the United States this week all the more important for cues, said National Australia Bank strategist Rodrigo Catril. "It'll be interesting to see what companies are saying, in particular in terms of the forward-looking outlook, in terms of where they see the next quarter, how they see their margins, are they going to get squeezed, or are they planning to pass it on," Catril said in a NAB podcast. "I think that this idea of complacency is also because we're not quite sure how this whole thing is going to play out," he added. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was up 0.4%, after U.S. stocks ended the previous session with meagre gains. Japan's Nikkei (.N225), opens new tab gauge added 0.2%. The EU accused the U.S. of resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached. Trump said he was open to further discussions with the EU and other trading partners. Japan's Prime Minister Shigeru Ishiba is arranging to meet U.S. Treasury Secretary Scott Bessent in Tokyo on Friday, the Yomiuri newspaper reported, ahead of an August 1 deadline before 25% tariffs are due to take effect. Ishiba also has an election to contend with on Sunday, with polls showing his ruling coalition may lose their majority in the upper house to political opponents who are advocating for expansive spending. The benchmark 10-year JGB yield jumped to 1.595%, highest since October 2008, while the 30-year yield hit an all-time high of 3.195%. Meanwhile, the U.S. earnings season is set to begin on Tuesday, with second-quarter reports from major banks. S&P 500 profits are expected to rise 5.8% year-over-year, according to LSEG data. The outlook has dimmed sharply since the early April forecast of 10.2% growth, before Trump launched his trade war. Investors are also waiting for U.S. consumer price data for June, due on Tuesday, and will monitor for any upward pressure on prices from tariffs. The dollar was little changed at 147.71 yen after touching a three-week high. The euro was flat at $1.1672. U.S. crude dipped 0.3% to $66.80 a barrel. Trump announced new weapons shipments for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Gold inched up 0.1% at $3,348.35 per ounce, while spot silver gained 0.1% to $38.15 per ounce, after hitting its highest level since September 2011 in the previous session. In early trades, the pan-region Euro Stoxx 50 futures were up 0.1%, German DAX futures were up 0.1%, and FTSE futures were up 0.2%. U.S. stock futures, the S&P 500 e-minis , were down 0.1%.
Daily Mail
an hour ago
- Daily Mail
BREAKING NEWS Former MLB All-Star Jim Clancy dies at the age of 69
Former baseball star Jim Clancy, best known for his career with the Toronto Blue Jays passed away at the age of 69 on Monday, it was announced. The Blue Jays franchise announced Clancy's death in an emotional statement on social media. A cause of death was not provided. 'We are saddened to learn of the passing of Blue Jays great, Jim Clancy,' the statement read. 'His impact on our organization will be remembered forever. Our hearts go out to his family and friends during this difficult time.'
