23XI Racing

23XI Racing is a prominent professional NASCAR team competing full-time in the NASCAR Cup Series. Co-owned by NBA Hall of Famer Michael Jordan and three-time Daytona 500 winner Denny Hamlin, the team launched its operations in 2020 with a distinct mission to blend competitive racing with cultural innovation. The team’s name reflects a combination of Michael Jordan’s iconic No. 23 jersey and Hamlin’s longstanding No. 11 racing number. Headquartered in Huntersville, North Carolina, 23XI Racing has quickly established itself as a competitive and influential organization within the NASCAR landscape.

Early Days and Background

Founded in 2020, 23XI Racing entered the NASCAR Cup Series in 2021 after Michael Jordan and Denny Hamlin formed a partnership rooted in a shared passion for racing and a commitment to building a championship-caliber team from scratch. The organization began with the No. 23 Toyota Camry driven by Bubba Wallace, the only Black full-time driver on the Cup circuit at that time. The team leveraged a technical alliance with Joe Gibbs Racing, Hamlin’s long-time team, to develop competitive cars and operations.

The team quickly expanded, adding the No. 45 Toyota Camry in 2022, initially driven by veteran Kurt Busch and later by Ty Gibbs and Tyler Reddick. In 2024, 23XI opened a new state-of-the-art race shop and headquarters named “Airspeed,” underscoring its commitment to innovation and competitive excellence.

Driver Lineup (Car Details, Manufacturer, Replacements)

As of the 2025 NASCAR Cup Series season, 23XI Racing fields three full-time entries, all Toyota Camry XSE models:

• No. 23 Toyota Camry
  Driven by Bubba Wallace since the team’s inception in 2021, Wallace’s crew chief is Robert “Bootie” Barker. Wallace has delivered multiple wins and important milestones for 23XI Racing, elevating the team’s profile.

• No. 45 Toyota Camry
  Piloted by Tyler Reddick since 2023, who replaced drivers Kurt Busch (2022) and Ty Gibbs (also 2022). Reddick’s crew chief is Billy Scott, a seasoned NASCAR professional who joined the team in 2022.

• No. 35 Toyota Camry
  Added in 2024 with Riley Herbst as the driver, the newest entry expanding the team’s competitive footprint.

23XI Racing maintains a technical alliance with Joe Gibbs Racing, benefiting from TRD (Toyota Racing Development) support for engines and technology, which enhances their competitive capabilities.

Net Worth

While specific net worth estimates for 23XI Racing as a team are not publicly disclosed, the organization enjoys strong financial backing from its high-profile owners Michael Jordan and Denny Hamlin, as well as sponsorships from prominent brands such as McDonald’s, Leidos, MoneyLion, and others. Its growth trajectory and increasing race wins suggest that 23XI Racing is evolving into one of the better-funded and well-resourced new racing teams in NASCAR.

Legacy in NASCAR

Though still a relatively young team, 23XI Racing has made significant impacts since its debut:

• NASCAR Cup Series:
  The team has started over 130 Cup races since 2021, attaining 7 race victories and 4 pole positions as of mid-2025. Bubba Wallace secured the team’s first win in 2021 at Talladega. Tyler Reddick notably added multiple wins in 2023 and 2024, including leading the 2024 Regular Season championship for a substantial period.

• NASCAR Xfinity and Truck Series:
  23XI Racing has no formal program or entries in the Xfinity or Truck Series but has expressed interest in expanding its driver development in the future.

The team is recognized for breaking barriers in NASCAR with diversity emphasis and for elevating less traditional NASCAR racing cultures under the leadership of Jordan and Hamlin.

Recent Controversies

23XI Racing has been involved in a high-profile antitrust lawsuit alongside Front Row Motorsports against NASCAR. Filed in late 2024, the lawsuit challenges NASCAR’s updated charter agreement terms and alleges anti-competitive practices by the governing France family. This legal action led to a preliminary injunction in late 2024 allowing 23XI Racing to compete as a chartered team in 2025, although the injunction was overturned by the Appeals Court in mid-2025. The lawsuit has introduced uncertainty about team charter status, sponsorship stability, and competitive planning.

Aside from the lawsuit, the team has largely maintained a professional reputation without significant internal controversies.

Key Highlights from Seasons 2024 and 2025

• 2024:
  23XI Racing expanded with the No. 35 entry and welcomed Tyler Reddick as a driver. The team tallied multiple race wins, with Reddick finishing among the top contenders. Bubba Wallace continued strong performances, solidifying the team’s playoff credentials. The opening of the “Airspeed” headquarters marked a major infrastructure milestone.

• 2025 (1st August):
  The team fields three competitive cars with continued strong showings from its drivers. Despite the ongoing legal dispute affecting charter status, 23XI Racing remains competitive with consistent top-10 and top-5 finishes. The technical alliance with Joe Gibbs Racing continues to provide a performance boost. The lawsuit remains a key off-track story impacting the organization’s future trajectory.