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

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.

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.

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.

CHARLOTTE, N.C. (AP) — Michael Jordan and NASCAR chairman Jim France stood side-by-side on the steps of a federal courthouse as if they were old friends following a stunning settlement Thursday of a bruising antitrust case in which the Basketball Hall of Famer was the lead plaintiff in a lawsuit accusing the top racing series in the United States of being a monopolistic bully.

JR Motorsports called him "a key member" of the team.