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Attorneys representing 23xi Racing and Front Row Motorsports asked courts in New York and Colorado to recommend Liberty Media Corporation, owner of Formula 1, the NFL, NBA, NHL and Major League Baseball to share financial documents showing how each league income with its teams.
The two cups asked the court in a submission of March 31 to force the NFL, NBA and NHL to produce documents requested. The two cups filed a memorandum for the court on Monday to force Liberty Medial to share requested financial information.
It is part of the antitrust lawsuit 23xi racing and front row motorsports filed against Nascar last year. The case is expected to be heard on December 1st. Nascar disputes the case and counts the two teams on March 5.
Nascar said in the court documents that the two teams and Curtis Polk “embarked on a strategy to threaten, force and force Nascar to meet their demands for better contract and financial conditions.”
In court documents, 23xi Racing and Front Row Motorsports said why documents of the other leagues are important: “Nascar has used its monopoly power to impose anti -petitive conditions on the teams competing in a cup series, including providing teams with lower shares of revenue (such as TV income from the competition market of $ 7.7 billion. relevant to the proof of antitrust injuries and the calculation of the damages caused by the plaintiffs under the well-accepted ‘benchmark’ measure for the estimate of damages in an antitrust litigation. ‘
The two cups are looking for documents showing the revenue from the team and league and how they are divided. The two cups are also looking for valuations of expansion or current teams in those leagues. The two cups are looking for information from January 1, 2016 to December 31, 2024. Nascar’s charter system debuted before the 2016 season.
In the court documents, the two cups say the NHL, NFL and NBA refused to provide information on income and valuation information. Major League Baseball, with reference to the start of his season, asked extra time to respond.
The NFL and NBA objected in court documents, saying: “The summons is based on the cunning of the premises: that because plaintiffs sue Nascar, they can obtain a way of federal process – financial, financial projections, research, studies, analyzes and other highly confidential, real estate and commercial -sensitive information that belongs to almost every other the substantive dispute between the parties or that the summons meets the strictest of the federal rules. ”
Liberty Media said in court documents his objections to the part of his financial information and, among other things, noted that “Liberty Media is objection to the summons because it is abroad and excessively tricky and seeks documents that are not relevant to claims or defense in or not, or proportional to the needs of the action.”
