Renowned economist Edward Snyder, who also worked in the antitrust division of the Department of Justice, testified in Michael Jordan’s antitrust trial against NASCAR. As reported by Bob Pockrass of FOX Sports, Snyder’s testimony suggested that NASCAR had been participating in anticompetitive business practices for years.
On Monday, Snyder, who has testified in over 30 cases, including the one between the National Football League (NFL) and Tom Brady, implied (as per AP News) that NASCAR owes plaintiffs 23XI Racing and Front Row Motorsports a combined $364.7 million in damages. Here is what Pockrass wrote about it on X, formerly Twitter:
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“Case is on its lunch break. Economist Edward Snyder has been testifying using NASCAR documents & emails to show anti-competitive acts when it comes to exclusivity of venues, keeping teams from racing in other series and not allowing the Next Gen car to be used in other racing.”
Snyder determined the amount of damage through a series of complex calculations using three parameters: profits, reduction in market revenue, and the overall revenue lost to 23XI Racing and Front Row Motorsports from 2021 to 2024.
Monday’s session was already off to a delayed start, followed by testimony. Patience ran thin in court as U.S. District Judge Kenneth Bell grew frustrated with the slow pace of the trial.
“He was particularly bothered by objections he received at 2:55 a.m. Monday and then 6:50 a.m. before the morning session,” The Washington Times mentioned in a recent report. “He took an hour to get through the rulings, and testimony resumed 30 minutes behind schedule.”
The trials are expected to be over this week. Racing resumes on February 1, 2026, with the Cook Out Clash at Winston-Salem’s Bowman Gray Stadium.
Michael Jordan explains his decision to sue NASCAR
Last week, NBA Hall of Famer and 23XI Racing owner Michael Jordan was summoned to testify in court. Despite claiming to be a diehard fan of NASCAR, Jordan explained why he was the only one who could have challenged its existing business model.
“Someone had to step forward and challenge the entity,” Jordan said. “I sat in those meetings with longtime owners who were brow-beaten for so many years trying to make change. I was a new person, I wasn’t afraid.”
“I felt I could challenge NASCAR as a whole,” he added. “I felt as far as the sport, it needed to be looked at from a different view.”
Jordan testified for a whole hour. Needless to say, his statements highlighted the very heart of the lawsuit filed in October 2024. 23XI and Front Row Motorsports were the only two teams that did not sign NASCAR’s 2025 charter agreement. Instead, they lodged an antitrust lawsuit against the organization.
The bottom line of 23XI Racing’s case is that NASCAR has been practicing monopolistic control in the arena of stock car racing and restricting team revenue, while shunning the possibility of a permanent charter system in the future.
Edited by Parag Jain
