Denny Hamlin, co-owner of 23XI Racing with NBA icon Michael Jordan, has shared his thoughts on the recent decision not to sign NASCAR’s final charter proposal. His comments come shortly after announcing Bubba Wallace’s multiyear contract extension, emphasizing 23XI Racing’s commitment to racing next season, regardless of the charter situation.
Speaking to the press before the Cup Series race at Bristol Motor Speedway, Hamlin stated, “We’ve said we plan on racing next year no matter what. And we’re sticking to that.”
Even with the charter negotiations in limbo, 23XI Racing is set to continue its participation in NASCAR events for the upcoming season. Hamlin has expressed increasing frustration over the negotiations, which he feels have not provided fair conditions for teams over the last two years.
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A major sticking point has been the limited six-hour timeframe given for teams to sign the charter contract ahead of the playoff opener in Atlanta, which Hamlin found particularly constraining.
He assured sponsors and partners that the charter deal is purely an ownership issue and will not jeopardize the jobs of the team’s employees. The team has had notable successes, with Tyler Reddick clinching the regular-season championship this year, while Wallace made the playoffs last season. Looking ahead, there are whispers of 23XI Racing potentially expanding to three full-time charters by 2025, with Riley Herbst possibly joining through a charter acquisition from Stewart-Haas Racing.
In a separate interview, Hamlin clarified, “23XI is interested in getting a charter deal done. Right now, on January 1, 2025, we don’t even have a charter. So, you can’t buy or sell something that doesn’t exist in our eyes.”
He went on to say, “We have two charters till the end of this year. Until we secure a charter agreement, that’s all we have. I didn’t build that facility to be a two-car team, but it must make financial sense. I will not put myself in a position to shell out millions every year just to keep this running.”
Hamlin concluded, “The charter agreement needs to improve before I invest more into it.”