"If you don’t correct that, this sport’s going to die": 23XI owner Michael Jordan breaks silence on NASCAR's perennial charter woes

NASCAR Cup Series team owner Michael Jordan recently decided to break his ever-longing silence on stock car racing's perennial charter issues that have plagued team owners over the past couple of seasons.

Co-owner of 23XI Racing, one of NASCAR's youngblood teams with a fresh approach to stock car racing along with current driver Denny Hamlin, Jordan has certainly left no stone unturned towards his commitment to the sport. The legendary basketball player seems to be in it for the long haul, along with a new campus for the team and his imminent presence at every other race weekend.

Speaking on the issue of the permanency of charters in the sport for the first time, Michael Jordan told the New York Times:

"If you had permanent charters, then you could create a revenue stream, either with new investors or different types of sponsorships that would subsidize that type of variance between ownership and the league. That’s a big miss."

The former Chicago Bulls Shooting Gaurd added:

"If you don’t correct that, this sport’s going to die not because of the competition aspect, but because economically it doesn’t make sense for any business people."

Speaking while considering the dark reality of motorsports' inflated financials, Jordan spoke on how NASCAR could benefit in the long run with a solidified bond between the governing body and the participant teams.

Denny Hamlin, Jordan's partner at 23XI Racing has also spoken about the issue several times, echoing the thoughts of his fellow co-owner.

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Michael Jordan's financial manager on the scope of future investment in NASCAR

One of the key people to find themselves in Michael Jordan's entourage, long-term financial and business advisor Curtis Polk also added to the former basketball legend's thoughts on how NASCAR and the teams should approach charter negotiations.

Elaborating on how the sport has untapped investment looking for inroads, Polk told the New York Times:

“Until we are all aligned and paddling the boat in the same direction, we’ll never be able to reach the full potential that NASCAR has. There’s just a ton of money on the sidelines that wants to invest in big-time sports, and NASCAR is a big-time sport. It’s not what it was in the early 2000s, but there’s no reason it can’t get back there again.”

Touching on NASCAR's heydey, it remains to be seen whether the governing body and the team owners can reach a mutually beneficial agreement to take the sport to the next level.