Latest news with #23XIRacing
Yahoo
2 days ago
- Automotive
- Yahoo
Kurt Busch Makes Painful Pocono Admission During Emotional Return to Tricky Triangle
Kurt Busch Makes Painful Pocono Admission During Emotional Return to Tricky Triangle originally appeared on Athlon Sports. For years, Kurt Busch viewed Pocono Raceway fondly. He won there three times in 2005, 2007 and 2016. Good memories. Advertisement Then July 23, 2022 happened. The 23XI Racing pilot got sideways during his qualifying run at The Tricky Triangle and backed the No. 45 car into the wall. The incident didn't appear to be anything extraordinary. However, as everyone later found out, the back end of the then-Next Gen car was too stiff and the drivers absorbed much of the energy during impact. Busch suffered a concussion. Kurt Busch on the flag stand as the honorary starter at Charlotte Motor Speedway Road Dedmon-Imagn Images Initially, he was supposed to be out for only a few races. Then, his return kept getting delayed. Ultimately, he didn't return for the rest of the 2022 season and never raced again in NASCAR. On Saturday, Busch appeared at Pocono during the pre-race show on Prime and was congratulated on his recent nomination into the Hall of Fame when he made a surprisingly candid admission about his trip to Pennsylvania. 'It's been fun just taking it all in and telling stories and reminiscing about some of those old races and talking about like some of the deep stuff, too,' Busch said. 'You know, it's not always peaches and cream and sunshine and rainbows, but man, it's just an honor to go in on first ballot and to take it all in. Advertisement 'I haven't been back to Pocono since my accident. So this, it's like a cleansing, purging weekend as well.' Busch's "cleansing weekend" will continue on Sunday when he watches his brother and former 23XI racing teammates compete on the 2.5-mile track. Coverage begins at 2 p.m. ET on Prime. Related: Kyle Busch and Chase Elliott Make List No Cup Series Driver Wants to Be On This story was originally reported by Athlon Sports on Jun 21, 2025, where it first appeared.
New York Times
3 days ago
- Automotive
- New York Times
NASCAR antitrust lawsuit: Judge orders 12 teams to disclose some financial records
Twelve of NASCAR's teams will only have to disclose their financial records in a limited scope to the league, a federal judge ruled Wednesday, the latest development in an ongoing lawsuit between NASCAR and two other teams. The 12 teams appeared in federal court on Tuesday to argue against being required to fully disclose their financial records to NASCAR. They expressed reservations about whether the sensitive nature of their financials would remain private. If it were leaked, they argued, it could potentially disrupt the competition within the sport to 'catastrophic' levels. Advertisement The hearing was part of the joint antitrust lawsuit filed by 23XI Racing, which is co-owned by NBA legend Michael Jordan and Joe Gibbs Racing driver Denny Hamlin, and Front Row Motorsports against NASCAR and its CEO and chairman, Jim France, alleging monopolistic practices. The lawsuit, filed last October, came after 23XI and Front Row decided not to sign an extension to the charter agreement that guarantees teams certain revenues and a starting spot in all 36 Cup points races. In the lawsuit, the teams argued that the sport's current economic model makes it difficult for even the most successful teams to break even. NASCAR was seeking 11 years of records with the intent of learning what revenue teams generate, how much they spend to compete at the highest level of stock car racing, and what their profit margins are. If U.S. District Court judge Kenneth D. Bell had ruled in NASCAR's favor, they would've had access to every financial detail related to operating a NASCAR team across all divisions, including salaries for drivers and other team personnel, how much a team spends on research and development, and what each specifically earns from corporate sponsorship and from manufacturers. Adam Ross, an attorney who argued on behalf of the 12 teams, referred to NASCAR's request as a 'fishing expedition.' 'It would be absolutely devastating to these race teams if their competitors were able to find out sponsorships on the cars, driver salaries and all revenue streams,' Ross said. 'It cannot make its way into the public realm.' NASCAR countered that it would use an outside accounting firm to review the information in addition to listing teams anonymously and redacting sponsor names. Judge Bell agreed with the teams, and while the 12 teams will have to disclose some of their records, it will be done in a more restrictive manner — only 'annual top-line financial data (total revenue, total costs, and net profits/losses) on an anonymized, average per-car basis for each year dating back to 2014.' One team, Kaulig Racing, has already submitted its financials to NASCAR. Advertisement Of the 15 teams that hold charters — valued in the mid-eight figures — only 23XI and Front Row chose not to sign the charter agreement that resulted from drawn-out and contentious negotiations spanning two years. At the end of the nearly two-hour-long hearing on Tuesday, Bell, just as he did the week prior, expressed disbelief that the two sides are on course for what could be a potentially seismic showdown in federal court that carries serious ramifications. The trial is scheduled to begin Dec. 1. 'I am amazed at the effort going into burning this house down over everybody's heads,' Bell said. 'But, I'm the fire marshal, and I will be here in December if need be.' Last week, Bell urged both sides to find middle ground and settle. Hamlin said Saturday that no progress had been made toward a settlement. 'We did not want to entertain any of that until we went through full discovery,' Hamlin said at Pocono Raceway, site of last week's NASCAR race. Mediation is scheduled to begin in August. (Top photo of 23XI Racing's No. 23 car: Jeff Robinson/Icon Sportswire via Getty Images)
San Francisco Chronicle
3 days ago
- Automotive
- San Francisco Chronicle
Judge orders NASCAR teams to turn over financial data to stock car series, limits details
CHARLOTTE, N.C. (AP) — A federal judge on Wednesday ordered a dozen NASCAR teams to provide 11 years of financial data to the stock car series as part of an ongoing legal fight but sharply limited what they need to share. A day after hearing arguments from both sides, U.S. District Judge Kenneth Bell of the Western District of North Carolina said the information will 'allow NASCAR to have much of the arguably relevant substance of the requested information, while protecting the legitimate interests" of the 12 teams. They had raised concerns that the private financial details could end up being made public and would hurt competitive balance. Under the decision, the teams must provide top-line data — total revenue, total costs, and net profits and losses — dating to 2014. The teams and NASCAR were ordered to settle on an independent accounting firm to handle the details by Friday, with that work paid for by NASCAR. Earlier this week, attorneys for 12 of the 15 overall race teams argued against disclosing their financial records to become part of NASCAR's antitrust lawsuit. They are not parties in the ongoing suit filed by 23XI Racing, which is owned by the NBA Hall Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins. 23XI and Front Row are the only two organizations of the 15 that refused last September to sign take-it-or-leave offers on a new charter agreement. Charters are NASCAR's version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the 13 teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery. Teams have long argued that NASCAR is not financially viable and they need a greater revenue stream and a more permanent length on the charter agreements, which presently have expiration dates and can be revoked by NASCAR. Two years of negotiations ended last fall with 13 teams signing on and 23IX and FRM instead heading to court.
Hamilton Spectator
3 days ago
- Automotive
- Hamilton Spectator
Judge orders NASCAR teams to turn over financial data to stock car series, limits details
CHARLOTTE, N.C. (AP) — A federal judge on Wednesday ordered a dozen NASCAR teams to provide 11 years of financial data to the stock car series as part of an ongoing legal fight but sharply limited what they need to share. A day after hearing arguments from both sides, U.S. District Judge Kenneth Bell of the Western District of North Carolina said the information will 'allow NASCAR to have much of the arguably relevant substance of the requested information, while protecting the legitimate interests' of the 12 teams. They had raised concerns that the private financial details could end up being made public and would hurt competitive balance. Under the decision, the teams must provide top-line data — total revenue, total costs, and net profits and losses — dating to 2014. The teams and NASCAR were ordered to settle on an independent accounting firm to handle the details by Friday, with that work paid for by NASCAR. Earlier this week, attorneys for 12 of the 15 overall race teams argued against disclosing their financial records to become part of NASCAR's antitrust lawsuit. They are not parties in the ongoing suit filed by 23XI Racing, which is owned by the NBA Hall Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins. 23XI and Front Row are the only two organizations of the 15 that refused last September to sign take-it-or-leave offers on a new charter agreement. Charters are NASCAR's version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the 13 teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery. Teams have long argued that NASCAR is not financially viable and they need a greater revenue stream and a more permanent length on the charter agreements, which presently have expiration dates and can be revoked by NASCAR. Two years of negotiations ended last fall with 13 teams signing on and 23IX and FRM instead heading to court. ___ AP auto racing:
Al Arabiya
3 days ago
- Automotive
- Al Arabiya
Judge Orders NASCAR Teams to Turn Over Financial Data to Stock Car Series, Limits Details
A federal judge ordered twelve NASCAR teams to provide eleven years of financial data to the stock car series as part of an ongoing legal fight, but sharply limited what they need to share. A day after hearing arguments from both sides, US District Judge Kenneth Bell of the Western District of North Carolina said the information will allow NASCAR to have much of the arguably relevant substance of the requested information while protecting the legitimate interests of the twelve teams. They had raised concerns that the private financial details could end up being made public and would hurt competitive balance. Under the decision, the teams must provide top-line data–total revenue, total costs, and net profits and losses–dating to 2014. The teams and NASCAR were ordered to settle on an independent accounting firm to handle the details by Friday, with that work paid for by NASCAR. Earlier this week, attorneys for twelve of the fifteen overall race teams argued against disclosing their financial records to become part of NASCAR's antitrust lawsuit. They are not parties in the ongoing suit filed by 23XI Racing, which is owned by NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins. 23XI and Front Row are the only two organizations of the fifteen that refused last September to sign take-it-or-leave-it offers on a new charter agreement. Charters are NASCAR's version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the thirteen teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery. Teams have long argued that NASCAR is not financially viable and they need a greater revenue stream and a more permanent length on the charter agreements, which presently have expiration dates and can be revoked by NASCAR. Two years of negotiations ended last fall with thirteen teams signing on and 23XI and FRM instead heading to court.
