CHARLOTTE, N.C. — Front Row Motorsports owner Bob Jenkins was back on the stand Thursday to testify on the fourth day of the explosive antitrust case that accuses NASCAR of being a monopolistic bully in violation of federal antitrust laws.
Jenkins began his testimony Wednesday and the fast-food franchiser said he was a passionate NASCAR fan who fulfilled a longtime dream when he was finally able to own a car in the top motorsports series in the United States.
But he said he has lost $100 million since becoming a team owner in the early 2000s and that’s even with a 2001 victory in the Daytona 500. His love of the sport and belief that it can be profitable have kept him going, but what he believes is a no-win revenue model led Front Row to join 23XI Racing in a federal lawsuit against NASCAR.
23XI is owned by Basketball Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin. Jordan has the funding to fight NASCAR and Jenkins joined the battle when he became offended by NASCAR’s “take-it-or-leave-it” offer on charter agreements.
A charter is the equivalent of the franchise model used by other sports leagues, but in NASCAR it guarantees a team a spot in the field for all 38 races plus a designated percentage of revenue. Front Row was one of the teams that received two charters for free when NASCAR created the system in 2016 and Jenkins thought the agreements were lousy then — but a step in the right direction.
All 15 Sprint Cup organizations fought for more than two years for better terms on the charter extensions that began this year. But when NASCAR’s final offer was presented at 6 p.m. on a Friday last year with six hours to sign the 112-page document, Jenkins balked because it went “virtually backward in so many ways.
“It was insulting, it went so far backward,” he testified Wednesday. “NASCAR wanted to run the governance with an iron fist, it was like taxation without representation. NASCAR has the right to do whatever it wants.”
He said he was “honestly very hurt” by the sequence of events and believed NASCAR “knew we had to blindly sign it. Some of these owners have $500-$600 million facilities, long