Both teams took issue with the agreement's 'anti-competitive' practices by unfairly monopolising its tracks and its suppliers, for example by forcing teams to buy their parts from single-source suppliers chosen by NASCAR.
The lawsuit also contains a request for an injunction to prevent NASCAR from revoking team charters, which could impact 23XI Racing’s operations in 2025, however the series maintains that competitors can continue without charters.
Will 23XI Racing be allowed to compete in NASCAR in 2025?
Hamlin has since issued an update on the future of the team, and whether they will be able to continue racing whilst the lawsuit is ongoing.
"We stated that we'll be filing for an injunction. That's the first thing that has to happen,” he said on his Actions Detrimental podcast.
“The injunction is basically we're going to seek relief, and in injunctions, you typically have to show - again, I'm not a lawyer, so be careful here - you have to show irreparable harm if you don't stop it.
“We're trying to stop NASCAR from taking our charters. Obviously, there would be massive irreparable harm there.
“We're going to go to the courts and say listen, let us operate as a chartered team while this lawsuit goes on over the next year to two years.
"If you lose your charters and you win the lawsuit, then what? You can't go back. It's going to be tough to operate that way. As 23XI, we're prepared for any outcome.
“I think Michael [Jordan] has stated and I've stated to the team we will not let this affect our employees whatsoever in any kind of way, and any financial distress is going to have to fall directly on the owners.
“It will not fall on our people whatsoever. We will not allow that to happen."