The NASCAR lawsuit takes an unexpected twist. Just when the drama between 23XI, Front Row Motorsports, and the sanctioning body was heating up, it turns out that a new entity is entering the fray. Only this time, it’s Liberty Media Corporation, the owners of Formula 1, who were forced to scramble to protect their interests.
But why did they get involved in an antitrust lawsuit concerning the NASCAR world? Let’s rewind a bit. Earlier this year, Michael Jordan and Co. asked Liberty Media to share information they thought was relevant to the ongoing case, which the corporation obliged, albeit reluctantly. They gave a written statement called the Wendling Declaration.
That declaration provides confidential information about the Concord Agreement, Formula 1’s ‘top secret’ trade contract that governs how the sport’s money is ruled and managed. It’s fair to say that it contains some pretty sensitive financial and commercial information that is protected by confidentiality agreements.
ADVERTISEMENT
In a motion to a Charlotte court, Liberty Media wrote, “Liberty Media takes all reasonable efforts to maintain the confidentiality of the Concorde Agreement and to protect its sensitive commercial terms from disclosure. (Id.). Unsealing of the Wendling Declaration and related expert reports without redacting information regarding the Concorde Agreement would thus cause substantial competitive and commercial harm to Liberty Media and its affiliates.”
But here’s where things take a turn. Recently, the judge ruled on summary judgment motions and then ordered that all the related filings be unsealed and made public. But Liberty Media isn’t having it.
ADVERTISEMENT
They’ve asked the court for permission to enter a “limited appearance”, just so that they can step into the case and protect its confidential information. The objective is to file a motion to seal (or redact parts of) the Wendling Declaration so that sensitive information doesn’t become public.
This is a developing story! Stay tuned for more updates.
ADVERTISEMENT