nascar charter lawsuit.

A three-judge federal appellate panel has ruled in favor of NASCAR in the antitrust lawsuit filed by two teams, one owned by Michael Jordan. The judges at the U.S. Court of Appeals for the Fourth Circuit in Richmond, Virginia, on Thursday vacated an injunction that required 23XI and Front Row be recognized as chartered teams as their case snakes through the legal system. Both race teams sued NASCAR late last year after refusing to sign new agreements on charter renewals. Jordan owns 23XI. The charter system is similar to franchises in other sports, but the charters are revocable by NASCAR.