The federal antitrust trial between NASCAR and 23XI Racing has been playing out in a Charlotte courtroom since Monday. With news coming out that Michael Jordan could be delivering his testimony on Friday, former driver Kenny Wallace has stated on his YouTube channel that 23XI Racing has the edge over NASCAR at this point in time.
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He thinks that this is because of the documents, texts, and financials that have been made available to the public as a part of the trial. He said, “I hate to say this. I think 23XI and Front Row have the edge right now. I go back to what Denny Hamlin said. ‘Documents don’t lie.’ Now they can get on that stand and talk all day long. But I believe this case is going to be about documents.”
The term ‘heresay’ has become irrelevant in today’s digital world, Wallace opined, defending this thought. He further underlined that the emails and messages that people sent between them will be the deciding factor in the lawsuit’s outcome. But what are these documents that have become the fire that powers 23XI Racing?
“Coffee with Kenny”
Hey Wallace!
Why don’t you talk about how about this is hurting @NASCAR ? pic.twitter.com/aVTJk5Vsit— Kenny Wallace (@Kenny_Wallace) December 4, 2025
The plaintiffs submitted a 44-page exhibit list that laid out all the evidence they intended to rely on during the trial. This included the 2025 charter agreement, chat transcripts of internal dialogues between top NASCAR executives, media rights agreements, and pictures of various race tracks. They also produced several business-related documents.
Together, these papers inevitably showcase the economic pressure that teams are under. According to the released numbers, 23XI Racing saw its revenue jump from $27.8 million in 2021 to $62.2 million in 2024. A majority of this figure in 2024 came from sponsorships. But at the same time, profitability has fluctuated to a great degree.
The team had a profit of $3.5 million in 2023 and then a net loss of around $2.1 million in 2024. It argued in court that it costs nearly $20 million every season to field a car in full-time competition. These extreme expenses prove that even the well-funded teams like 23XI Racing can struggle to sign checks.
On Thursday, Jeffrey Kessler, who is the attorney for 23XI Racing and Front Row Motorsports, used several internal text messages to prove that Jim France was stonewalling teams in the case. One particular message exchange between Ben Kennedy and Steve O’Donnell told the story of how France had been swearing out loud when reading a letter that Heather Gibbs had sent him.
Heather is the daughter-in-law of team owner Joe Gibbs and had implored France to make the charters permanent in said letter. Such evidence goes strongly against NASCAR and weakens its stand a great deal, which is exactly what Wallace spoke about.
