NASCAR lawsuit: Judge orders 12 teams to disclose financial records despite 'catastrophic' concerns

Earlier this week, U.S. District Court Judge Kenneth Bell ruled that 12 Cup Series teams must provide financial documents. The NASCAR lawsuit has now dragged in the other non-party teams.

Kaulig Racing had already provided the financial records requested by NASCAR. The other teams have now been ordered to do so by the court. Attorneys for the teams argued it would be “catastrophic,” according to Jordan Bianchi of The Athletic.

In the ruling, made on Wednesday, June 25, the court provided a much more limited scope than what NASCAR had originally subpoenaed. The court ruled that the teams and NASCAR will both select an “independent accounting firm to serve as a neutral party in the production of anonymized information.”

Teams must then provide “annual top-line financial data (total revenue, total costs, and net profits/losses) on anonymized, average per-car basis for each year dating back to 2014. Sponsorship income must be included by the teams as part of total revenue.”

Teams were instructed to limit their financial information to “full-time cars in the Cup Series.” The court wants to avoid going through irrelevant information like Xfinity Series operations or other non-Cup Series-related endeavors.

The selected accountant will only provide the financial documents to NASCAR. The 13 teams not involved in the lawsuit will not have access to the information. As part of the ruling, Judge Bell wrote, “The document must include a Highly Confidential Attorneys Eyes Only designation that also permits use by NASCAR’s and Plaintiffs’ experts.” This will not be intended for the public to see.

There will be more in the NASCAR lawsuit soon, depending on the Appeals Court. 23XI Racing and Front Row are hoping to have an opportunity to keep their charter status for 2025.

NASCAR lawsuit: Denny Hamlin weighs in on settlement

Behind the races week in and week out, the NASCAR lawsuit remains the major story of the season. Even as Denny Hamlin has won three races and seems to be one of the best drivers in the field, yet again, the questions keep coming about the latest rulings and happenings in court.

Hamlin isn’t known for censoring himself too much. But there is only so much he can say with legal proceedings ongoing. He was asked about it at Pocono during his media availability.

“I have stated publicly that I’ve always hoped cooler heads would prevail. But it’s not on our end that needs to, you know, the cooler heads. We’ve said that. I think the difference is they’re saying different things on our side,” Hamlin said. “I think the difference is they’re saying different things on their side. So, we’re prepared to go all the way.”

Judge Bell has urged the teams to find a way to settle in recent weeks. Right now, it doesn’t appear that either side is going to back down. Mediation is scheduled for August later this year. By then, 23XI and Front Row could be racing six open cars each week in the Cup Series.