After eight days of testimony at a federal court in Charlotte, NASCAR and two of its race teams settled a contentious lawsuit mid-trial.

That settlement is a new charter system called "evergreen charters", meaning teams are going to get permanent team charters, which was the main point of Jordan, driver Danny Hamlin and their team's lawsuit. Although the financial agreements between the two sides will not be publicly disclosed.

Jordan's team, which he co-owns with driver Denny Hamlin, and Front Row Motorsports Inc. reached a deal with NASCAR on the ninth day of their federal trial. The financial agreement will not be publicly disclosed as part of the settlement terms.

Michael Jordan’s race team will continue to compete in NASCAR after Thursday's settlement. Here's what to know.

Michael Jordan won six championships as an NBA player. As a NASCAR team owner, he's hoping to win plenty more. Thursday, Jordan stood victorious outside a Charlotte, N.C. courthouse, where his 23XI racing team reached a settlement with NASCAR.

Heather Gibbs, daughter-in-law of Joe Gibbs, has given emotional testimony in a federal antitrust case against NASCAR.

As Jordan emerged from the courthouse surrounded by security and reporters, a familiar tune suddenly broke through the crowd noise — "Be like Mike," a jingle from his 1991 Gatorade commercial, an indispensable part of the Jordan legend. And Michael couldn't help but crack a smile.