Michael Jordan's racing team is suing NASCAR and its CEO, Jim France ... alleging the guy and his organization are "monopolistic bullies."
His Airness' 23XI Racing -- along with Front Row Motorsports -- filed the lawsuit in federal court in North Carolina on Wednesday ... after the two teams say they refused to sign updated pacts with NASCAR over "unfair terms."
In the suit, the teams said they wanted more when it came time to extend their charter agreements beyond 2024 -- namely, a bigger piece of the revenue pie -- but France and NASCAR wouldn't budge.