Basketball legend Michael Jordan is expected to testify in an antitrust case against NASCAR. CBS News' Skyler Henry reports.

New York

Michael Jordan, NBA Hall of Famer and co-owner of the 2311 NASCAR team, is expected to testify in a federal antitrust case against NASCAR. The lawsuit, brought by Jordan's team and Front Row Motorsports, alleges that NASCAR acts as a monopoly by restricting team revenues and operational freedom, particularly through its charter system and control over race participation.

NASCAR denies the allegations, and the trial, which began in Charlotte, includes testimony from key figures such as Denny Hamlin and NASCAR president Steve O'Donnell. The outcome of the trial could result in significant financial and operational changes for NASCAR, including potential damages of $300 million or forced divestment of racetracks, depending on the verdict.

Michael Jordan expected to testify in court against NASCAR

Well, NBA Hall of Famer Michael Jordan could testify today in a federal anti-trust case against NASCAR. Keep in mind, Jordan owns one of the two teams suing the racing organization. They claim NASCAR works as a monopoly and limits revenues and freedom for individual teams. NASCAR, they're fighting it. They deny the allegations, but the trial began in Charlotte on Monday. CBS News correspondent Skyler Henry following all of the drama and development. Skyler, whenever I get to talk to you, it's a good day. How is NASCAR allegedly working to sort of stifle competition, as Michael Jordan and his attorneys contend, and how has NASCAR responded? Monopolistic bullies, Reid. That is what the team co-owned by Jordan and NASCAR legend Denny Hamlin, along with the co-plaintiff in this case, which is Front Row Motorsports. That is how they describe NASCAR, saying that they are limiting opportunities not only for increased individual revenue, but also, for lack of a better word, freedom. Saying that there are issues as it relates to track ownership in which NASCAR controls and also the opportunities to allow those Cup Series cars, the cars that participate in these NASCAR races, from participating in any additional series. And this is something that Michael Jordan and Denny Hamlin and those with 2311 have brought up late last year as part of this suit. As you pointed out, NASCAR has indicated that they have done nothing wrong, but the judge in this case has acknowledged that NASCAR is, for lack of a better word, a monopoly. And so it has been an interesting week up until this point. We heard from Denny Hamlin. We heard from the president of NASCAR, Steve O'Donnell, who actually left the stand this morning in defense of NASCAR. Right now, Heather Gibbs, who is part of Joe Gibbs Racing, another prominent team in NASCAR, is on the stand. And if she were to wrap up today, then we would hear from Michael Jordan, who has had an interesting role in this case altogether. And to back up here, NASCAR has used this charter system, similar to what other professional sports teams call franchises, in which these teams have been able to not only receive some revenue but also have guaranteed positions in NASCAR's races throughout the season. Last year, Jordan's team, 2311, along with Front Row Motorsports, did not sign on to a charter, which most of the other teams did, saying that they wanted an opportunity for a bigger piece of the pie. And so this is something that many who have been paying attention to this for the last year or so say that could have been settled outside of court. We heard from Michael Jordan earlier this week, who said that he's surprised it's gotten to this point, but he really wants an opportunity to really have a bigger stake as it relates to the way business moves forward, as it relates to NASCAR and these teams. The big picture here, Reid, is that depending on how this trial plays out, it's expected to last about two weeks or so, one of two things could significantly happen. On one hand, the team in which Jordan co-owns and the other co-plaintiff, which I pointed out, Front Row Motorsports, they could potentially have to close their doors because they are spending millions of dollars in order to operate, in some cases, at a loss, which is interesting, especially considering the fact that Jordan has been such a prominent voice and figure in the sport. On the other hand, if the side favors what Jordan and co. are doing, then that means that NASCAR could be forced to fork over some $300 million in damages. They could also be forced to divest these racetracks altogether, and it could also be a significant blow as it relates to just the reputation of NASCAR, which is privately owned, we should point out, all across the sporting world, and so there are a lot of moving parts in this. Again, Michael Jordan could potentially take the stand today. Should be interesting to see what he has to say and what the ripple effects of all of this could be. Skylar Henry, tracking it all. Always good to see you. Thank you so much, friend.

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Breakdown