Legacy Motor Club recently announced a star-studded lineup of nearly a dozen of investors. It was a huge surprise as the list included IndyCar drivers and corporate executives. Expanding to a third charter in 2026, the team needs all the resources to drive the growth. But this expansion only became possible after Michael Jordan and 23XI’s revolutionary anti-trust lawsuit settlement.
“It’s an incredible list and when you think about what were where the sport sits after December in the settlement with MJ and NASCAR and permanence coming to our sport, we have a franchise. We will have three franchises next year and it’s a moment in time. I’ve always hoped this coming.” Johnson clarified on SiriusXM NASCAR podcast.
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Michael Jordan’s 23XI Racing and Front Row Motorsports were locked in a year-long battle with NASCAR. Plaintiffs demanded permanent charters and revenue share. Basically a franchise model that didn’t exit before the lawsuit finally ended in settlement on December 11, 2025.
Chartered teams now possess permanent franchises with no expiration dates as opposed to operating on contracts that needed to be renewed on a regular basis.
That difference is far more important than it seems. Prospective investors had to factor in the uncertainty of whether a charter would maintain its long-term worth under the old model.
Prior to the settlement, NASCAR teams had to renew their charter after negotiation with the sanctioning body. This in turn acted as a barrier for the potential investors from entering the sport. France family owned the league and teams had no permanent assets. But, things are different with evergreen charters and has opened the doors for new partners and opportunities.
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Another reason why the investors are now willing to invest in NASCAR teams is the uptick in value of charters. After the settlement, value of a Cup Series charter is between $80-100 million. And this is expected to grow even more with the new financial system in place.
These modifications significantly bolster Johnson’s long-term goals for Legacy Motor Club. That helps explain why Johnson has assembled an ownership group spanning athletes, entrepreneurs and business executives rather than relying on a single majority investor. And As Johnson put it, the focus remains competition. But the settlement has given teams a far stronger business foundation from which to pursue championships.
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