Denny Hamlin NASCAR earnings took center stage in a high-profile antitrust trial as the veteran driver disclosed making $14 million annually as a driver for Joe Gibbs Racing. The revelation came amid ongoing legal proceedings involving 23XI Racing, where Hamlin is a co-owner, and Front Row Motorsports in their lawsuit against NASCAR.
Hamlin’s Dual Roles and Team Investments Come to Light
Hamlin, recognized for racing the No. 11 car for Joe Gibbs Racing, brings a unique dynamic to NASCAR as both a team driver and a significant stakeholder elsewhere. He owns a 40% share of 23XI Racing, a detail highlighted during his extensive testimony in court. Hamlin’s career spans 21 years, boasting 721 NASCAR Cup Series starts and 60 victories, including six wins in the 2025 season.
During his hours-long appearance under oath, Hamlin explained his financial ties to the sport, noting that he earns approximately $14 million per year solely from his driving responsibilities. He also revealed that he has invested a total of $45 million into 23XI Racing, comprised of $10 million in direct cash contributions and another $35 million supplied as loans to the team.
Broader Financial Picture Within NASCAR Teams
The court testimony also exposed figures related to teams and owners outside Hamlin’s primary associations. 23XI Racing reported earnings of $3 million in the 2023 year. Meanwhile, Front Row Motorsports’ owner outlined more sobering financials, stating losses of $100 million since their involvement with NASCAR. These revelations paint a complex financial landscape for teams operating within the sport.
On the development front, 23XI Racing inaugurated its expansive ‘Airspeed’ race shop near Charlotte, North Carolina in 2024, a facility with a reported construction cost of $35 million—demonstrating ongoing investment in infrastructure despite the mixed financial outcomes seen among teams.
Antitrust Trial Continues to Uncover Industry Insights
The antitrust trial, which began Monday, shows no signs of slowing as it draws out high-stakes financial information involving leading figures and organizations in NASCAR. The proceedings are set to continue, with NASCAR executive vice president Scott Prime slated to testify next. With substantial fortunes, team strategies, and industry standards under scrutiny, the trial promises to further define the financial realities for drivers, team owners, and other key NASCAR stakeholders.
