What Is 23XI Racing vs. NASCAR

Overview

23XI Racing is a professional auto racing team competing in the NASCAR Cup Series, established in 2020 as a joint venture between NBA icon Michael Jordan and NASCAR driver Denny Hamlin. The team made its official debut in the 2021 Daytona 500, marking Jordan’s entry into stock car racing ownership and a new chapter in NASCAR’s evolving diversity efforts.

Named as a play on '23'—a nod to Jordan’s iconic jersey number—and 'XI,' the Roman numeral for 11 (Hamlin’s car number), 23XI Racing was formed to bring fresh energy and visibility to the sport. The organization operates under a technical alliance with Joe Gibbs Racing, leveraging decades of NASCAR experience while promoting innovation and inclusion.

• Founded in September 2020, 23XI Racing was officially announced as a new NASCAR Cup Series team with Michael Jordan and Denny Hamlin as co-owners.
• The team’s No. 23 Toyota Camry made its debut in the 2021 Daytona 500, driven by Bubba Wallace, the only full-time Black driver in the series.
• In 2023, 23XI expanded to a two-car operation with the addition of the No. 45 car, driven by Kurt Busch for part of the season before Tyler Reddick took over in 2024.
• The team secured its first NASCAR Cup Series win on October 4, 2021, when Bubba Wallace won at Talladega Superspeedway.
• 23XI Racing operates out of a facility in Huntersville, North Carolina, and partners with Toyota Racing Development for engine and technical support.

How It Works

23XI Racing functions as a NASCAR Cup Series team with ownership, driver contracts, sponsorship deals, and technical partnerships that enable it to compete in all 36 races of the season. The team’s structure combines Jordan’s brand influence and investment with Hamlin’s racing expertise and industry connections.

• Ownership Model: Michael Jordan holds the majority ownership stake, while Denny Hamlin is a minority co-owner and strategic advisor. This blend brings sports business acumen and on-track experience.
• Driver Roster: The team fields two full-time drivers: Bubba Wallace (No. 23) and Tyler Reddick (No. 45), both under multi-year contracts with performance incentives.
• Technical Alliance: 23XI Racing has a technical alliance with Joe Gibbs Racing, sharing data, engineering resources, and shop space to remain competitive.
• Sponsorship Strategy: The No. 23 car has major backing from 23XI Racing Partners, DoorDash, McDonald’s, and McDonald’s franchisee organizations, reflecting diverse brand engagement.
• Car Number Significance: The No. 23 honors Michael Jordan, while the No. 45 was chosen by Bubba Wallace and later assigned to Reddick after Kurt Busch’s retirement.
• Team Expansion: After starting with one car in 2021, the team expanded in 2023, qualifying for two charter entries under NASCAR’s charter system, ensuring guaranteed race participation.

Comparison at a Glance

Here’s how 23XI Racing compares to other top NASCAR teams across key metrics:

This comparison highlights how 23XI Racing, despite being one of the newest teams, has rapidly grown to compete with established organizations. Its celebrity ownership and focus on inclusion set it apart in a traditionally conservative sport.

Why It Matters

23XI Racing represents a cultural shift in NASCAR, bringing mainstream attention and diversity to a historically homogenous sport. Its presence challenges traditional norms and inspires new audiences, particularly among younger and more diverse fans.

• The team has elevated the profile of Bubba Wallace, who became the first Black driver to win a NASCAR Cup Series race since 1963 with his 2021 Talladega victory.
• Michael Jordan’s involvement marks the first time a NBA Hall of Famer has been a majority owner in NASCAR, bridging sports entertainment worlds.
• 23XI Racing promotes inclusion through outreach programs and partnerships with organizations focused on increasing diversity in motorsports.
• The team’s success has encouraged other minority investors to explore NASCAR ownership, including Trackhouse Racing’s Pitbull and Justin Marks.
• With strong sponsorship and media visibility, 23XI helps NASCAR appeal to a broader demographic beyond its traditional fan base.
• The team’s rapid growth signals NASCAR’s openness to innovation, new ownership models, and modern branding in the 2020s.

As 23XI Racing continues to build on-track competitiveness and off-track influence, it remains a pivotal force in NASCAR’s evolution.