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20 sats \ 1 reply \ @Cje95 OP 2 Oct 2024 \ parent \ on: Michael Jordan's 23XI Racing team sues NASCAR and CEO Jim France Stacker_Sports
I wouldnt say that. So when you purchase these Charters you don't build wealth or really acquire an asset. The other team that did not sign that is what the guy pointed out was that they pay these fees but if they step out of line or if they decide to leave the sport they don't have anything to sell. It isn't like sports teams that increase in value the Charters don't and often the teams have to take out loans to make ends meet.
The France Family... they are not innocent in this. Prime example was adding the anti-defamation clause which would have prevented teams, drivers, etc. from being able to speak out. Plus they have the ability to just revoke the Charter leaving you with all sorts of expenses/things like your shop without a way to recoup money so you are losing it.
Seems like they know what they are doing when they sign the contracts.
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