23XI Racing could forfeit its charters and be forced to take an exit door from NASCAR. Yes, this could be the harsh implications of their tough stance against the France family over the charter extension deal. Initially, it was believed that the Team Alliance was a united front against NASCAR, but it turns out that Michael Jordan and Co. are the only ones standing tall.

Curtis Polk, MJ’s business partner, has led the charge for talks, representing the best interest of his team. And while the likes of Hendrick Motorsports, Joe Gibbs Racing, and Team Penske are believed to have signed a new deal, Polk states that these teams didn’t have a fair chance of negotiating a deal that is biased and in favor of NASCAR.

Michael Jordan & Co. won’t bend the knee

The team dropped a bombshell when they made a public announcement stating that they refused to sign the charter agreement on a deadline set by NASCAR. One of the key highlights of the statement was that they didn’t have a fair opportunity to bargain a deal on fairgrounds. They left the floor open for NASCAR to have constructive talks to resolve this issue.

• Now what exactly are the sticking points here that Michael Jordan & Co. feels are unfair?
• Is it the permanent charter status, a better share from the revenue pool, or a lack of decision-making power?

Well, no one knows the fine details of the quarrel the parties have, but Curtis Polk had a few interesting pointers to share to add to their argument. “The contract offer took away essential rights, and we believe that all teams, including those who signed, may not have been given a true opportunity to negotiate or fully understand the implications of the contract terms. This isn’t the 1960s, and these predatory practices do not withstand scrutiny.” Reporter Jenna Fryer shared these updates on her X account.

The only support or backing 23XI Racing has right now is Front Row Motorsports, who have abstained from signing the deal. Now dealing with NASCAR could be a tall order for a new organization, but Michael Jordan & Co. certainly won’t settle for a mediocre deal. “NASCAR has consistently refused to deal with 2311—in these negotiations, we are David facing Goliath. NASCAR has superior bargaining power and undue influence over the sport and the charter process,” Polk added.

Interestingly, not everyone in the NASCAR Cup Series garage feels the same way as Denny Hamlin, Michael Jordan, and their partners at 23XI Racing.

But RFK Racing signed the charter deal without any pressure

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What happens if a team decides not to sign a charter deal for the next cycle, which is 2025-31?

Potentially NASCAR could take the charters and sell them, or perhaps hold them in trying to force the teams to fall in line, meaning no bucks and hence leaving teams to dry. This could’ve been a lurking thought for all the teams involved in a drama that has stretched far beyond the scheduled period.

Going by Curtis Polk’s statement, it feels like the rest of the owners settled for an inferior deal in fear of retaliation by NASCAR. But Brad Keselowski from the RFK Racing camp had a rather interesting take on the topic. He shared that the team owners weren’t forced to sign the charter deal; rather, they did so on their own accord.

“For us, we felt like it was right to do a deal and move forward. I don’t necessarily know where [an ultimatum] is coming from. ‘Forced’ is a really strong term. But we are getting to a spot where it’s important to get these things settled. We’re glad that the economics are improved to go with the media landscape that moved. Right now, the sport moves around the media rights deal.” Keselowski told Bob Pockrass.

Given the current circumstances, the charter negotiations are far from done given the current circumstances. It’s fair to say NASCAR and teams including Michael Jordan & Co. need to come to terms, sooner or later.