23XI Racing is “seeking to make Formula One turn over some of its most sensitive financial information to aid in an antitrust lawsuit against NASCAR." The team is asking a federal district court in Colorado to “compel Liberty Media -- F1’s owner -- to turn over five key categories of financial information, including the famed Concorde Agreement,” which concerns the commercial and governance of the sport. The motion is rooted in 23XI and Front Row Motorsports’ “desire to perform a ‘yardstick comparison’ to calculate what their revenues would have been in a major racing circuit that the teams claim has a more favorable business model than NASCAR.” In the filing, the teams said F1 has “refused to produce the requested information” despite “already narrowing their original request,” which they made Feb. 19. 23XI and Front Row “also requested similar information from the NFL, NBA and NHL in a March 31 filing” in a N.Y. district court (THE ATHLETIC, 4/9).
23XI seeks F1 financials to aid in NASCAR lawsuit
