CHARLOTTE, N.C. — Richard Childress is not part of the antitrust lawsuit trial involving 23XI Racing, Front Row Motorsports, and NASCAR. Yet, his company's private financial details surfaced during his testimony.
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Back in October 2024, 23XI Racing and Front Row Motorsports filed an antitrust lawsuit against NASCAR and CEO Jim France, alleging that they used anti-competitive acts to maintain an illegal monopoly while simultaneously enriching the France family.
Childress is not part of this lawsuit, but he provided testimony about his team's financial health, his desire for permanent charters, and the Sept. 6, 2024, deadline to sign the 2025 Charter Agreement.
It was during NASCAR's cross-examination that attorney Christopher Yates produced a document and revealed that former driver Bobby Hillin Jr. had set out with the intention of purchasing a portion of Richard Childress Racing. Chartwell Investments, which owns 40% of the team, wanted to sell its share.
Yates attempted to ask several questions about Richard Childress Racing's financial health, while saying that Hillin represented to potential investors that the team has had a positive EBITA (earnings before interest, taxes, depreciation, and amortization) for 55 years.
This seemingly contradicted Childress' comments about how his team is not profitable. However, the team owner said that his engine shop (ECR) and manufacturing shop, which does work for the military, pay the bills. He said the race team would not survive without these other companies.
Ultimately, which companies pay the bills became less important in this conversation. Childress became visibly upset at this line of questioning despite Judge Kenneth D. Bell shutting down each attempt from Yates.
Christopher Yates has numerous questions about Childress’ finances based on information from Bobby Hillin Jr., who explored a partial purchase of RCR. Childress was very upset and said he had an NDA in place.
Every time Yates asked a financial question, it was blocked on…— John Newby (@JohnNewby_) December 9, 2025
The reason, as Childress explained is that Hillin had signed an NDA (non-disclosure agreement). NASCAR should not have access to this confidential information, which prompted Childress to make a comment about legal action.
Judge Bell said that he didn't allow this line of questioning because teams "didn't want to be dragged into this fight." He said that the Court would protect the financial data of the non-lawsuit teams.
The team owner is not the only person who had an issue with this document surfacing during cross-examination. Plaintiffs' attorneys did not have prior knowledge of this evidence.
Yates said at the end of the trial day that he wanted to use this evidence to impeach Childress. Judge Bell did not allow this, but this issue is not yet over. The two legal teams still have to discuss how to proceed as the trial enters its eighth day.
Prior to this document becoming part of the cross-examination, the championship-winning team owner spent his time telling Plaintiffs' lead attorney exactly why he wants permanent charters. He said that he was looking at building enterprise value and that he wanted to see his team running 60 years into the future.
Childress added that he wants to see a permanent franchise system in NASCAR, but not one that compares to the NFL or another "stick and ball sport." He compared the ideal setup to what Professional Bull Riders (PBR) does.
Childress owns the Carolina Cowboys after spending approximately $4 million for his franchise. He testified that the sale price of these franchises a few years ago was $3 million, but this amount has increased to approximately $40 million.
According to Childress, he had several conversations with NASCAR CEO Jim France about permanent charters. He testified that France said they couldn't do permanent charters because of the unknowns.
Childress testified that France told him during one of these conversations that, "Don't know where we will be in seven years." The team owner added that he responded by saying they would go up with NASCAR and down with NASCAR depending on the sport's financial situation.
