Michael Jordan’s race team is looking for F1 financial information to increase the cause against Nascar

Michael Jordan’s race team is trying to make Formula 1 repair some of his most sensitive financial information to help an antitrust cause against Nascar.

23xi Racing, Jordan’s team in co -ownership with the three -time winner of Daytona 500 Denny Hamlin, was involved In an ongoing dress In addition to “charter agreements” similar to franchising Nasars together with another team, motor sports in the front row.

Now he is asking a Federal District Court in Colorado to force Liberty Media – the owner of the F1 – to repair five key categories of financial information, including the famous Concorde agreement, which concerns the advertising and governance of this sport. When contacted by AtleticoLiberty Media and the teams did not comment on the matter. F1 did not immediately respond to a comment request.

The motion is rooted in the desire of 23xi and in the front row to perform a “metro comparison” to calculate what their entrances are I wanted They have been in an important racing circuit that the teams claim that it has a more favorable business model than Nascar.

23xi and Front Row also requested information similar to NFL, NBA and NHL in a deposit of March 31 in a New York District Court.

But in his deposit of Colorado this week, the teams said that the F1 has “refused to produce the requested information” despite having already restricted their original request, which they made on February 19th.

“F1 does not have a valid base for its refusal to produce the requested information,” the teams said in their motion.

A look at the details of the quote related to the F1

These requests include five information on F1:

• Which revenues (media rights, tickets, concessions, etc.) are divided between F1 and its race teams
• The formula that identifies the percentage of revenue quotas between F1 and the teams
• The amount of shared or F1 -shared revenue and the teams
• The assessments of the F1 teams, both current and expansion
• The Concorde agreement, the contract between F1 and its teams that governs sport as work

According to the motion, the teams have not “requested any research and -mail of custody of any manager or employee of the F1”, but have made their request based on “sufficient documents to show bases” for four requests. This essentially limits the scope of the request.

When Liberty Media received the quote for the first time in February, he defined the request of the Nascar teams “in question” because he was looking for sensitive documents that “would entail the dissemination of material relating to commercial secrets, financial information or other confidential, proprietary and commercial information” protected by law. Liberty Media said she had no “connection” with the Nascar cause and also noticed the burden of the request.

However, the teams claimed that there is no undue burden for Liberty Media, since they are requesting “sufficient documents to show” rather than every document. They believe that “requests are modest and targeted: they are concentrated on salary limits and government documents that are promptly available for Liberty Media and F1”.

The Concorde agreement, for example, is highly confidential and protected by agreements to keep the details private. Even the way in which the revenues are shared with the teams or the way it is divided is not public knowledge.

Despite the confidential nature of the required documents, there are potential legal means around the barriers. The motion of Monday recites: “The confidentiality problems can be addressed by marking highly confidential sensitive documents pursuant to the order of protection ordered by the court in the dispute below, which will guarantee that the documents are seen only by consultants, experts and court”.

23xi and Front Row are currently in the phase of discovery of their next trial, which should start on December 1st. The team teams won a preliminary injunction against Nascar to allow them to run as charter teams this season while the legal action is underway, thus allowing them to guarantee them the entrance to compete in every breed and earn the accompaniment prizes for 2025.

The F1 related deposit was reported for the first time by Tobychristie.com. The existence of the other document of the Major League was reported for the first time by Fox Sports.

(Photo: Logan Rily / Getty Images)