In a joint statement released at the time, 23XI Racing and Front Row Motorsports said: "We share a passion for racing, the thrill of competition, and winning. Off the racetrack, we share a belief that change is necessary for the sport we love.
"Together, we brought this antitrust case so that racing can thrive and become a more competitive and fair sport in ways that will benefit teams, drivers, sponsors, and, most importantly, fans.”
Now, Wallace, who competed in 344 Cup Series races in his career, has weighed in on the legal debate.
In a video posted on Wallace's YouTube channel, which has 111K subscribers, he stated: "NASCAR cannot let Michael Jordan Front Row win this,"
"Because if they win this, that means NASCAR are going to have to give up millions and millions and millions and millions of dollars."
Wallace went on to pose an interesting question regarding the teams that have already signed the charter, questioning what would happen if 23XI and Front Row did end up winning.
"Now here's the question," Wallace explained. "Remember I told you that everybody signed that contract for next year except for 23XI and Front Row.
"Since they've already signed that contract, does that mean those teams gotta live by the contract? Does that mean Michael Jordan and 23XI get to have a new contract?
"What happens if those new teams come back and say 'Hey, hey, since Michael Jordan and Front Row won the lawsuit, we want part of that' ? Do you see what I'm saying?"
As the Cup Series hits Talladega Superspeedway this weekend, it is a debate that is set to continue to rumble on.