NASCAR teams ordered to provide financial data

CHARLOTTE, N.C. -- A national justice connected Wednesday ordered a twelve NASCAR teams to supply 11 years of fiscal information to the banal car bid arsenic portion of an ongoing ineligible combat but sharply constricted what they request to share.

A time aft proceeding arguments from some sides, U.S. District Judge Kenneth Bell of the Western District of North Carolina said the accusation volition "allow NASCAR to person overmuch of the arguably applicable substance of the requested information, portion protecting the morganatic interests" of the 12 teams. They had raised concerns that the backstage fiscal details could extremity up being made nationalist and would wounded competitory balance.

Under the decision, the teams indispensable supply top-line information - full revenue, full costs, and nett profits and losses - dating to 2014. The teams and NASCAR were ordered to settee connected an autarkic accounting steadfast to grip the details by Friday, with that enactment paid for by NASCAR.

Earlier this week, attorneys for 12 of the 15 wide contention teams argued against disclosing their fiscal records to go portion of NASCAR's antitrust lawsuit. They are not parties successful the ongoing suit filed by 23XI Racing, which is owned by the NBA Hall of Famer Michael Jordan and three-time Daytona 500 victor Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins.

23XI and Front Row are the lone 2 organizations of the 15 that refused past September to motion take-it-or-leave offers connected a caller charter agreement. Charters are NASCAR's mentation of a franchise model, with each charter guaranteeing introduction to the lucrative Cup Series races and a unchangeable gross stream. Of the 13 teams that signed, lone Kaulig Racing has submitted the fiscal documents NASCAR subpoenaed arsenic portion of discovery.

Teams person agelong argued that NASCAR is not financially viable and they request a greater gross watercourse and a much imperishable magnitude connected the charter agreements, which presently person expiration dates and tin beryllium revoked by NASCAR. Two years of negotiations ended past autumn with 13 teams signing connected and 23IX and FRM alternatively heading to court.