The trial is just around the corner, with NASCAR’s ongoing antitrust lawsuit set to begin trial on December 1. But beyond the “monopolistic practices” claims and talk of permanent charters, recent unsealed court filings have revealed just how much 23XI Racing has profited from being a part of the NASCAR Cup Series. And if their Christmas parties are anything to go by, Michael Jordan and Denny Hamlin are leaving no stone unturned to keep team morale high.

Court transcripts from 23XI COO Steve Lauletta’s deposition pull no punches on the team’s financial wins. “Exhibit 14 is entitled ’23XI Racing Profit & Loss, January through December 2022. ‘Do you see that?” the lawyer asked. “Yes,” Lauletta replied. The lawyer pressed further: “And if you look at the last page of this document, it reflects that in 2022, which was 23XI’s second year of racing in the Cup Series, it made a profit of $2,533,123.61. Correct, sir?”

Lauletta responded by saying, “That’s what it says,” noting this came after paying drivers Bubba Wallace and Kurt Busch, plus facility fees and all salaries in the team, including his own. The momentum built from there. For 2023, filings show profits hitting $3,538,979.67, up over a million from the year before, despite a steady $39 million in sponsorships. “Exhibit 15 reflects that in 2023, which was 23XI’s third year of racing in the Cup Series, 23XI made a profit of approximately $3,538,979.67,” the question went. “That’s what it says,” Lauletta answered again.

These profits throughout the year were born from Jordan‘s own brand image value. As he launched his team in February 2021, it drew giants like McDonald’s and Toyota to their team, which allowed them to run two cars by 2022. Even with perks, the profit book looked balanced, and even capable of helping with extravagant affairs, as per what the lawyer pointed out.

“23XI was doing well enough in 2022 to have a holiday party that cost $83,704.78, correct, sir?”

Lauletta responded with the same sentence again, adding it nearly doubled from $62,000 the prior year as the team grew. Along with this, there was also another $43,026 used for other team events.

These spending clearly highlights how 23XI keeps its team motivated without compromising on the profit side of things. But for a million-dollar company, how did these relatively small amounts spent on events become the highlight? As trials are looming large for both sides, NASCAR is not leaving any stone unturned, no matter how small that stone is, to show the benefit of charters in a team’s growth. And this growth is being reflected in the data that is being revealed now.

Financially, it does appear that #NASCAR has been lucrative for @23XIRacing per the depo of @slauletta

2021 – Christmas Party $62k
2022 – Christmas Party $83k
2021 – $490k profit
2022 – $2.53M profit
2023 – $3.53M profit pic.twitter.com/2V6vsPfpW9

— Jerry Jordan (@JerryJordan_KTT) November 23, 2025

But one executive from NASCAR is claiming to go to great lengths to settle this lawsuit as soon as possible, preferably before December starts.

NASCAR’s last attempt to settle the dispute

Commissioner Steve Phelps laid it bare in a recent AP interview, saying, “We are trying our hardest. I am trying my hardest both as a fan as well as the commissioner of this sport that I’ve loved since I was 5 years old. While two out of the 15 teams may not share that view and seem set on an unfortunate court battle, I hope that we can all agree that our racing is as good as it has ever been and we care about how we serve our fans.”

Phelps’ words echo the frustration after failed talks in October last year, where a mediator couldn’t bridge the differences on the charter deal that 13 teams signed, but 23XI and Front Row Motorsports skipped. According to Phelps, the core issue is that NASCAR, whose income in 2023 was $537 million, sees the lawsuit as a contract dispute, and not as antitrust foul play. He even went on to say, “From the outset, we’ve been clear: this is not an antitrust case.”

As Phelps added earlier, “The charter system is a critical part of the sport… Make no mistake, the lawsuit puts this at risk,” hinting at deeper worries over fan fallout and series stability if no settlement deal is achieved before the trial begins.