Adam Stern
@A_S12
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Motorsport/Fighting Reporter of @SBJ
Charlotte, N.C., U.S.A.
Joined April 2009
.@NASCAR said that in 2023, @DennyHamlin asked Michael Jordan to find a buyer for Hamlin's stake, suggesting he isn't committed. ➡️ Hamlin responded that at the time, there was a disagreement about 23XI's future but that was just his way to get his point across to fellow owners.
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.@NASCAR's intense cross-examination of @DennyHamlin concluded early this PM, after NASCAR external counsel Lawrence Buterman tried to pick apart Hamlin's words in recent years to assert that 23XI and Hamlin and being inconsistent in accusing NASCAR of anti-competitive behavior.
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Denny Hamlin and NASCAR's external counsel Lawrence Buterman on Tuesday went back and forth during cross examination over whether Hamlin's testimony was fully consistent or whether Buterman was "doing a little word twisting", as Hamlin said, and taking statements out of context.
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.@NASCAR external counsel Lawrence Buterman said 23XI/FRM are asking for $205 million in damages, that this would be a 900% ROI from what 23XI has invested and grilled @DennyHamlin about whether that is a fair ROI. ➡️ Hamlin also confirmed his JGR salary is around $14M annually.
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Denny Hamlin continued on the witness stand this AM, including @NASCAR cross-examining him. ➡️NASCAR lawyer Lawrence Buterman asked Hamlin if the public couldn't trust his words because Hamlin said he sometimes used NASCAR talking points in public; Hamlin said that's "nonsense."
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"Joe Gibbs Racing has sold its manufacturing business to a private equity firm that plans to pump more than $25 million into expanding the operation and creating dozens of new jobs in the Charlotte area." - @BizJournals
bizjournals.com
Joe Gibbs Racing sold its manufacturing arm to Torque Capital Group, which rebranded it as JGA Space & Defense and will invest over $25 million.
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NASCAR's lawyer: "If the charter system is so bad, if the charter system is inherently anticompetitive, why are they negotiating for it to go on forever?" - @CourthouseNews
courthousenews.com
“There’s only one side going out of business,” professional stock car driver Denny Hamlin and co-owner, alongside Michael Jordan, of a racing team taking NASCAR to trial.
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Team lawyer Jeffrey Kessler in court today brought up the @IndyCar racing split from 1996 to 2008 and said that as a result of that split, "The teams got a better deal" in the end. ➡️ He said, "That's what NASCAR was trying to block" when it made moves to ward off competition.
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History is defined by the materials we master. But the materials of the past cannot build the future. Radical AI is building scientific intelligence to autonomously discover and manufacture next-generation materials to solve the world's greatest challenges.
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.@LEGO_Group has displayed the first Audi F1 Team set that will go on sale for $44.99 next March. ➡️ The truck has a "driver cab, storage compartments, engine bay, six rubber tires and a lifting platform for unloading the toy Audi F1 car from the truck to track level," per LEGO.
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.@NASCAR said in court Monday that after the September 2024 deadline to sign the new charter agreement, the two suing teams sent eight points of contention with the deal, but that none of them claimed NASCAR had engaged in anti-competitive behavior.
sportsbusinessjournal.com
NASCAR and the two teams suing it for alleged antitrust violations, 23XI Racing and Front Row Motorsports, exchanged opening salvos.
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Jeffrey Kessler, 23XI/FRM's lead attorney, said he believes a classic phrase among lawyers is in play here: "Witnesses don’t always tell the truth. Documents don’t lie." ➡️ Both sides say that documents they have obtained should vindicate their claims.
sportsbusinessjournal.com
NASCAR and the two teams suing it for alleged antitrust violations, 23XI Racing and Front Row Motorsports, exchanged opening salvos.
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Jeffrey Kessler, the lead attorney for 23XI/FRM, said in his opening remarks today that @NASCAR’s actions and internal messages show that its executives tried to ward off potential competition and had taken note of how @LIVGolf_League was disrupting golf.
sportsbusinessjournal.com
NASCAR and the two teams suing it for alleged antitrust violations, 23XI Racing and Front Row Motorsports, exchanged opening salvos.
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Mike Tyson endorsed the new Muhammad Ali American Boxing Revival Act, a bipartisan bill backed by TKO Group as it builds Zuffa Boxing 🥊 The legislation would update federal boxing laws for the first time in over 25 years. https://t.co/9NQ6Fxr9vG
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STOCKHOLM SYNDROME CHRISTIANITY: Why America’s Christian Leaders are Failing—and What We Can Do About It! Frank Turek: “Brilliant.” Alisa Childers: “Jam-packed with really practical advice… Pick up the book.” Eric Metaxas: “Every thinking Christian has an obligation to read.”
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NASCAR's lawyer for opening remarks today said the sides negotiated for two and a half years before NASCAR gave the September 2024 deadline, and he explained the deadline as, "Sometimes you’ve got to fish and cut bait,” in terms of the series needing to plan for the next season.
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.@23XIRacing pays @JoeGibbsRacing about $8 million a year for the services JGR provides 23XI for their alliance, @DennyHamlin said in court today, an arrangement that 23XI prefers over having to hire around 100-150 additional employees to work on the competition side.
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.@DennyHamlin was called as the first witness of the trial between NASCAR and 23XI/FRM today, with him responding to a question from one of his lawyers about why he doesn't feel the charter system is currently fair: "Your costs aren't covered to put on their show."
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NASCAR and 23XI/FRM presented opening arguments, with 23XI/FRM asserting evidence will show NASCAR engaged in anti-competitive behavior, while NASCAR asserted the teams only brought up anti-trust charges after talks and their actions have signaled that they benefit from charters.
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Trackhouse is working with people in Silicon Valley on a new AI system to help the team make on-track decisions by turning tons of data into useable suggestions, per @JustinMarksTH: The AI will be able to "do the work of a huge workforce without having to have a huge workforce."
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Celebrities attending this weekend's #QatarGP: @AROD, David Beckham, Kevin Hart, Roberto Firmino, @Metallica, Jessica Alba, Swizz Beats, Novak Djokovic, Rio Ferdinand, Steven Gerrard, @Ludacris.
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.@UFC and Paramount Skydance Corp. are deploying their promotional power to build buzz for their new media rights partnership, with a debut promo this morning and @DanaWhite announcing the first big event just now at halftime of Chiefs-Cowboys on CBS.
sportsbusinessjournal.com
Dana White appeared at halftime of CBS' Thanksgiving football broadcast to announce UFC 324
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