Two NASCAR teams -- one of them co-owned by Michael Jordan -- filed a federal antitrust lawsuit against the stock car series and chairman Jim France on Wednesday, claiming the new charter system limits competition by unfairly binding teams to the series,

23XI Racing, the Huntersville-based team Jordan co-owns with longtime driver Denny Hamlin, joined Front Row Motorsports to argue that the sport’s sanctioning body — led by CEO Jim France — has enriched itself through “unchecked monopolistic practices.”

Reports have confirmed that basketball legend Michael Jordan is suing NASCAR and it's CEO Jim France, calling them "monopolistic bullies." Jordan's 23XI Racing and Front Row Motorsports filed a lawsuit in a federal court in North Carolina yesterday(October 2) after the two teams say they refused to sign updated pacts with NASCAR over "unfair terms.