There is no secret to the NASCAR lawsuit. Michael Jordan’s 23XI Racing, along with Front Row Motorsports, had sued the sport for ‘monopolistic’ practices in the charter system. The legal battle had been raging since October 2024, with several exchanges of blows. Now, however, things seem to be clearing up with the hope of resolution.
On that note, things are also brighter for NASCAR in another lawsuit. Three years ago, the sanctioning body was sued by a cryptocurrency brand in a $76 million case. The sport’s rejection of the brand’s sponsorship of Brandon Brown’s Xfinity Series car apparently deflated the digital currency’s value. But like NASCAR, the court has no sympathy for it.
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One legal battle ends happily for NASCAR
Soon after Brandon Brown won his first NASCAR race in Talladega in October 2021, he fell into a cultural war. An NBC Sports reporter incorrectly interpreted a political slogan as ‘Let’s Go Brandon’ – and those three words became more popular than Dale Earnhardt or Richard Petty slogans. Right-wing NASCAR fans used the wrong slogan for merchandise, souvenirs, and political campaigns. What is more, a cryptocurrency brand emerged, called the LGBCoin. But as soon as Brown accepted that brand’s sponsorship, NASCAR rejected its legitimacy. Then, LGBCoin launched a lawsuit, which went on for three years.
Now, that story has reached its climax. The lawsuit went to trial in September and was overlooked due to two other cases – the 23XI/FRM one and the Legacy Motor Club one. While those battles are seeking resolution, NASCAR achieved a definite victory in the LGBCoin case. Law360 posted the update on X: “A Miami jury returned a defense verdict late Monday in favor of NASCAR in a $76 million suit by the LetsGoBrandon Foundation accusing the league of destroying the value of its cryptocurrency LGBCoin after it revoked approval of a sponsorship of a racing team.”
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This marked the end of a long, drawn-out battle between the two parties. Although the case has lost its relevance for Brandon Brown and his Xfinity Series team, Brandonbilt Racing. Brandonbilt ultimately raced the full 2022 season, but without LGBCoin on the car. And Brown would only pilot the No. 68 in 23 of the series’s 33 races. Austin Dillon and Kris Wright took his place for the other 10 races. The three drivers finished no better than Brown’s third-place finish at New Hampshire. The team has not entered another race since the 2022 season finale.
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Evidently, NASCAR can now breathe easy in one legal battle. Stay tuned for more updates!