What is Denny Hamlin suing NASCAR about?

Denny Hamlin, along with Michael Jordan, is suing NASCAR alleging monopolistic practices and unfair business models that suppress team profitability.

Could NASCAR be forced to sell its racetracks?

Yes, the judge has indicated that if the jury finds NASCAR guilty of antitrust violations, a potential remedy could include forcing NASCAR to sell all of its racetracks.

How much sponsorship does Denny Hamlin's team need?

Denny Hamlin testified that his team, 23XI Racing, needed to generate $45 million in sponsorship revenue just to make a minor profit.

Home / Sports / Hamlin: NASCAR Owners Are 'Fundraisers'

Hamlin: NASCAR Owners Are 'Fundraisers'

2 Dec

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Summary

Denny Hamlin testified NASCAR owners are essentially just fundraisers.
Teams allege NASCAR illegally uses monopoly power to suppress markets.
A potential remedy could force NASCAR to sell its racetracks.

The NASCAR antitrust lawsuit began this week with co-owner Denny Hamlin taking the stand, stating that team owners function "essentially just professional fundraisers" due to NASCAR's business model. Hamlin detailed the immense financial pressure, noting his team with Michael Jordan needed $45 million in sponsorship to achieve a minor profit.

Alongside Front Row Motorsports, 23XI Racing alleges NASCAR illegally wields monopoly power in "premier stock car racing." Attorneys for the teams compared NASCAR's practices to a single employer dictating low wages, highlighting that some owners haven't profited in two decades while NASCAR's controlling family allegedly reaps substantial financial benefits.

NASCAR's defense countered that the lawsuit stems from failed negotiations, not antitrust violations, emphasizing the France family's foundational role in building the sport. The trial's outcome could significantly reshape NASCAR, either reinforcing its existing model or prompting a radical restructuring of team ownership and revenue distribution.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.

Hamlin: NASCAR Owners Are 'Fundraisers'

2 Dec

•

Summary

Denny Hamlin testified NASCAR owners are essentially just fundraisers.
Teams allege NASCAR illegally uses monopoly power to suppress markets.
A potential remedy could force NASCAR to sell its racetracks.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.