NASCAR teams fear ‘catastrophic’ impact of disclosing financial records during court fight

CHARLOTTE, N.C. >> Attorneys for 12 of NASCAR’s 15 race teams argued in federal court Tuesday that disclosing their financial records to the stock car series would be “catastrophic” to competitive balance and warned that making such details public would put them all in danger.

The hearing was over a discovery dispute between NASCAR and the teams that are not parties in the ongoing antitrust suit filed by 23XI Racing, which is owned by retired NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, and Front Row Motorsports, owned by entrepreneur Bob Jenkins.

23XI and Front Row are the only two organizations out of the 15 that refused last September to sign take-it-or-leave offers on a new charter agreement. Charters are NASCAR’s version of a franchise model, with each charter guaranteeing entry to the lucrative Cup Series races and a stable revenue stream. Of the 13 teams that signed, only Kaulig Racing has submitted the financial documents NASCAR subpoenaed as part of discovery.

NBA owners approve $1.5B sale of Wolves, Lynx from Taylor to Lore-Rodriguez group

MINNEAPOLIS >> The $1.5 billion sale of the Minnesota Timberwolves from Glen Taylor to an investment group led by e-commerce entrepreneur Marc Lore and former baseball star Alex Rodriguez gained NBA approval on Tuesday, finalizing a complex and contentious process more than four years after the deal was reached.

The ownership transfer that Taylor tried to stop last year received an unanimous vote from the league’s board of governors that comprises the 30 team owners. The deal, which is expected to close this week nearly 51 months and more than 1,500 days after the initial agreement, includes the four-time WNBA champion Minnesota Lynx.

The Timberwolves are planning an introductory news conference for Lore and Rodriguez next month in Las Vegas during the NBA Summer League. Lore and Rodriguez will serve as co-chairmen on the board, with Lore as Timberwolves governor and Rodriguez as alternate governor, the league announced. For the Lynx, Rodriguez will serve as governor and Lore as alternate governor.

“We fully recognize the great responsibility that comes with serving as stewards of these exceptional franchises,” Lore said in a statement distributed by the organization. “We are committed to building an organization that sets the standard for excellence, is universally admired, and rooted in pride that spans generations.”

Shane Gillis to host ESPN’s award ceremony, the ESPYS

LOS ANGELES >> Shane Gillis will host ESPN’s annual awards show, the ESPYS, the network announced Tuesday.

The ceremony, which honors the top athletes and sports moments of the past year, will be held in Los Angeles on July 16 and broadcast live on ESPN.

The 37-year-old Gillis is one of the nation’s most successful touring comics and the creator and star of the Netflix series “Tires.” He also hosts “Matt and Shane’s Secret Podcast” with fellow comedian Matt McCusker.

“I’m excited to be at the ESPYS this year,” Gillis said in a statement. “I like sports so this should be a good time.”

The ESPYS began in 1993 and benefit the V Foundation for Cancer Research, the charity founded by ESPN and the late basketball coach Jim Valvano at the first ESPYS ceremony.

— The Associated Press