Will Denny Hamlin Buy Tony Stewart’s NASCAR Team’s Charter? 23XI Racing Owner Reveals

23XI Racing has skyrocketed into being an undeniable force in the NASCAR landscape over the last three seasons. As the team looks set to continue on its path toward being able to compete for championships, is it the right time for it to expand into a three-car operation? Team co-owner Denny Hamlin spoke to the press in Texas and revealed what’s brewing in the boardroom.

The question of a 23XI Racing expansion popped up in an ode to the rumors that are circulating around Stewart-Haas Racing and its plan to downsize operations. Should a charter be up for sale, there are plenty of sharks in the ocean that would be interested in it. With the success that 23XI has enjoyed and the financial backing of Michael Jordan, it wouldn’t be a sin for them to smell blood as well.

However, Hamlin does not have his eyes on that prize for now. “I don’t know what the SHR situation is. All I know is 23XI,” he said. “We got a two-car organization we’re pretty happy with.” Despite Hamlin’s words, it ought to be noted that the team’s tryst with the idea of an expansion is not a new one. After the team fielded a third car in the 2023 Daytona 500, rumors from within arose that the addition could be made permanent.

Had the idea not developed since due to the negative clout surrounding the charter negotiations, it is an understandable prospect. But things are bound to clear up at some point before the ongoing season ends. And with the potential availability of a SHR charter added into the mix, Hamlin and Jordan could very well be enticed into shelling out major millions to become a bigger dog.

Why is Tony Stewart planning to downsize his Cup Series team?

Stewart-Haas Racing has not had the best of times these past few years on the track. The performance has been largely subpar and its drivers have struggled to get their cars to the victory lane. In such a corner, Stewart told racer.com in February, “If we’re not having the results we’re looking for, we’re going to start making some major changes. So, everybody knows that, everybody understands that. And it’s those guys at SHR to take what we have and make it better.”

The major changes that he spoke about appears to mean a team size reduction. Adam Stern reported in Sports Business Journal recently that four teams are particularly interested in purchasing a charter from Stewart. Amongst them, apart from 23XI Racing, are JR Motorsports, Legacy Motor Club and Trackhouse Racing. Which of these teams bag the order depends largely on the performance of the SHR drivers going forward.