So basically its a Rev Sharing deal.
The racing teams signed with Nascar.
The teams wanted a more stable and balanced deal and nascar wanted it a fluid model (more money for them)
But if percentage based that shouldn’t matter right? Each team gets say 4% of revenue it shouldn’t matter what the revenue is. But anyway. They worked on the deal during 2023 and teams were given till the end of the 2024 season to sign. And all but 2 teams signed.
Those 2 teams didnt like the deal and wanted a more fair deal. Because nascar has created a monopoly. Well NASCAR has threatened to sell their two spots to another owner.
So they field a lawsuit in October of 2024.They have been fighting ever since.
They have been in talks using Jeffrey A. Mishkin as a moderator.
Hes been a moderator for the Olymics, FIFA, NBA and NFL anti trust lawsuits.
He was put in place early in the deal and now just 8 weeks before a federal court date, nascar said they want a new moderator because they dont like how negotiations are going.
Nascar says all the owners are “dictatorship, motorsport, redneck, southern, tiny sport”
Jordon said, hes got nothing better to do, and has lost more money in Atlantic city.
If a settlement isnt reached soon sponsors will start pulling out for the 2026 season and the whole sport might die.
Yeah … I do not see that happening at all.
Sure it could cause some problems for NASCAR and force some changes but NASCAR is pretty resilient.
The teams are concerned that in discovery (sharing financial records, and internal documents) proprietary or sensitive information could be exposed. They argue that disclosure could be catastrophic…. Costing them serious dollars in TV contracts and sponsorship money…. That could happen and if it did ultimately everyone loses. So what Jordan is doing could have a negative impact on the sport he claims he’s trying to make better.
Bottom line this is about greed. NASCAR wants to keep as much of the money as they can and keep the teams dependent. While Jordan wants a bigger piece of the pie. The teams are making money but Jordan is willing to lose money for a chance to make significantly more money. He is willing to gamble and isn’t afraid of the loss. While pretty much everyone else is willing to just accept the fact that they’re making money. The bigger problem is Jordan isn’t just gambling with his own money. He’s gambling with everyone’s.
I get the panic, but NASCAR isn’t folding over this. The Jordan lawsuit is serious… it might force some changes, but the sport’s too big and too established to just collapse. Worst case, (for NASCAR) is it gets restructured a bit and loses money. Best case is it wins and Jordan and company are gone from the sport next year…. Which means NASACAR will have an even stronger hold on the teams moving forward. So more money for the France family.
Ultimately, I think Jordan is hoping for a settlement and so are the teams.
NASCAR should realize that it’s better for everyone if the France family just shares a little more wealth with its teams.
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Thats the key. Everyone. The Judge, the Mods, the teams including Jordon are wanting to settle and just take a small piece of the pie more.
NASCAR doesnt want give up a dime.
And Nascar is WAY down in viewership which i imagine is effecting revenue.
2 weeks ago the Cup race had barely any better viewership than the Xfinintiy series.
Viewers overall is down 30-40% since 2017
So the Frances are trying not lose any money on their end. By taking out of the pockets of the teams