NASCAR reached a settlement Thursday in the major antitrust lawsuit filed by two of the stock car series' race teams, including one co-owned by NBA legend Michael Jordan. CBS News' Tom Hanson reports.

NASCAR has settled an antitrust lawsuit brought by two teams, 2311 Racing—owned by Michael Jordan—and Front Row Motorsports. The dispute centered on a charter system introduced by NASCAR in September 2024, which the two teams argued limited their growth and revenue opportunities, alleging it created a monopoly.

A joint statement from all parties said the settlement demonstrates a commitment to fairness and long-term participation in the sport. While the financial terms were not revealed, it was confirmed that both teams will remain active in NASCAR's premier events, concluding a contentious legal battle in Florida.

NASCAR settles antitrust case filed by two teams

NASCAR reached a settlement this morning in an antitrust lawsuit filed by two of its teams, including one owned by basketball great, legend at all the titles, Michael Jordan. CBS News correspondent Tom Hanson reading into this story has more from the newsroom. So Tom, for people who don't know about this case, what is it about? And then how was it settled? Yeah, well, in order to understand what it's about, Reed, we have to walk all the way back to September of 2024 when a charter, a new charter was offered by NASCAR to all of the teams. And reluctantly, a lot of these teams agreed to this charter. Now this charter offered top level cup series races and a revenue streams. All these teams collectively agreed that this was not a great deal for them, but they still signed the charter that is except for Michael Jordan's company, 2311 and Front Row Motorsports. Those two teams decided to actually relinquish their charter and to sue on grounds of anti that this violated antitrust laws. So essentially what they were saying was NASCAR had a monopoly that stifled growth. It stifled revenue streams and it was unfair to all of these teams. So I want to read a statement given the settlement today to you guys and it's actually in the square over here. This resolution, this is a joint statement, by the way, from NASCAR 2311 and Front Row Motorsports. This resolution reflects our shared commitment to maintaining a fair and equitable framework for long-term participation in America's premier motorsport, one that supports teams, partners, and stakeholders while ensuring fans enjoy uninterrupted access to the best racing in the world. So there are a lot of questions here that we still have. We don't know the financial terms that were agreed upon in this settlement, but what we do know for now is that Michael Jordan's company, along with Front Row Motorsports, they will continue to compete in these marquee NASCAR events, but no doubt an end to a very heated court battle that we've seen playing out in Florida.

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Washington

Trump ramps up pressure on Maduro with new sanctions

The EU has decided to keep the assets of the Russian Central Bank immobilised for the foreseeable future. The ban, which is based on a provision for economic emergencies, pushes back against external attempts to release the €210 billion in assets before Ukraine is compensated.

Moscow

Ukraine Invasion

EU triggers emergency clause to indefinitely immobilise Russian assets

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Caracas

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Tokyo

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Judge orders Kilmar Abrego Garcia's immediate release from ICE custody

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Samraong

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Rakhine

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Oslo

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Kyiv

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U.S. immigration agents used pepper spray against protesters in Minneapolis on Tuesday as residents blocked the officers’ vehicles and forced them to leave the area.

Minneapolis

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Canberra

Australia's social media ban takes effect for kids under 16

President Trump, in recent months, has dismissed concerns about affordability, but this evening, in the battleground state of Pennsylvania, he is focusing on the crisis and touting his administration's efforts to lower the cost of living. Nancy Cordes has more.

Pennsylvania

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Dozens of protesters blocked a highway near Tel Aviv to demonstrate against moves by the Israeli government to force some ultra-Orthodox Jews into mandatory military service, something they are currently exempt from so they can study the Torah full time.

Tel Aviv-Yafo

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Ukraine President Volodymyr Zelenskyy met Pope Leo XIV and Italian Premier Giorgia Meloni in Rome on Tuesday (December 9), meanwhile voicing his refusal to surrender territory to Moscow despite pressure from Washington for territorial concessions.

Rome

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A federal judge said Tuesday (December 9) that the Department of Justice can unseal the Ghislaine Maxwell sex trafficking case records. CBS News' Scott MacFarlane has more details.

Judge says DOJ can unseal Ghislaine Maxwell trafficking case records

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Manhattan

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Brussels

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London

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The International Criminal Court Tuesday handed down a sentence of 20 years to a Sudanese militia leader for war crimes and crimes against humanity committed during the country's civil war two decades ago.

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Hollywood

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President Trump announced Monday he will allow Nvidia to sell its advanced H200 computer chips to "approved customers" in China, but Mr. Trump said the deal does not include Nvidia's more advanced Blackwell system or its soon-to-be-released Rubin system.

Breakdown