Over a year after Michael Jordan filed an antitrust lawsuit against NASCAR , the case has finally been resolved.

On Thursday, both sides decided to settle, according to the Associated Press/ESPN. Ultimately, the stock car racing series will make its revenue-sharing charters permanent for all racing teams. Also, Jordan's racing teams, 23XI and Front Row Motorsports, will regain their charters after a season without them.

“Today's a good day,” Jordan said.

The terms of the settlement were not disclosed. Jordan filed suit alleging that NASCAR engaged in anticompetitive practices in its charter system. Ultimately, they were arguing for a greater share of revenue, greater say in governance, and permanent charters.

Meanwhile, the sport's Chairman Jim France and Commissioner Steve Phelp

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