No other major professional sport in North America is run by a single family that enriches themselves through these kinds of unchecked monopolistic practices. Central to the lawsuit are the original NASCAR charters adopted in 2016 and the recently updated 2025 agreements, which the 23XI and Front Row Motorsports teams did not sign because of the unfair terms. After more than two years of attempted negotiations over the 2025 agreements, during which NASCAR continually stonewalled and refused to engage constructively, we concluded that litigation was the only way to address the anti-competitive practices of NASCAR and the France family. In the coming days, we will file a preliminary injunction to enable our teams to race in the next calendar year under the 2025 charter agreement, while continuing to pursue our antitrust litigation. The filing will seek discovery from both NASCAR and Jim France related to their exclusionary practices and intent to insulate themselves from any competition. 23XI Racing and Front Row Motorsports will seek treble damages for the anti-competitive terms that teams have been subject to under the 2016 charter agreement. 23XI Racing was founded in 2020 by Denny Hamlin, Michael Jordan, and Curtis Polk, and Front Row Motorsports is owned by Bob Jenkins and has been racing full-time since 2005. 23XI Racing and Front Row Motorsports have retained Winston & Strawn LLP as legal counsel, led by Jeffrey Kessler, Winston & Strawn LLP Partner and Co-Executive Chairman.