Amidst Michael Jordan’s Groundbreaking $30 Million Gain, Denny Hamlin Teases Massive Update to 23XI Racing Worth Nearly $20 Million

Published 03/24/2023, 6:19 AM EDT

Right from the announcement of the team, it was pretty clear that 23XI Racing would be driven by growth and ambition. Of course, all organizations are driven by those two things, but one with names like Michael Jordan and Denny Hamlin naturally stands out for its extra ambition.

And it isn’t like they just have ambition without anything to show for it.

In a little over three years of their existence, 23XI has come a long way in the NASCAR Cup Series. They’ve won races, they’ve expanded their personnel both on and off the track, and they’ve also made some pretty big leaps when it comes to sponsorship revenue. It was reported last month how the Hamlin-Jordan-owned team roped in $30 million in sponsorship money.

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That’s a lot of money for a team that is less than 5 years old in a highly competitive environment.

But now, 23XI Racing is taking the next big step, one which co-owner Denny Hamlin recently teased on his social media.

Denny Hamlin shows off a work-in-progress $3.7 million property for 23XI Racing

Hamlin, who has been outspoken about his ambitions with 23XI Racing, recently shared an Instagram story of a construction site, tagging the team and adding an emoji of a home.

Clearly, the #11 driver showed off the construction site of his team’s new headquarters in Huntersville, which is pretty evident with the focus on the board of the same name towards the end of the video.

According to Charlotte Business Journal, the facility is being built on a 15-acre site which Hamlin acquired for $3.7 million in 2021.

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23XI Racing’s new facility could cost Hamlin-Jordan a big amount

Steve Lauletta, the president of 23XI Racing, had spoken about their new facility in Huntersville as he revealed the expected date of its completion, or rather, the lack of it.

“We plan to break ground within the next few weeks,” Lauletta said. “We don’t have an actual date yet, but it will be in the very near future.”

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As for how much it will cost, Lauletta didn’t reveal any details or estimates, but Charlotte Business Journal reported it could set Michael Jordan and Denny Hamlin back by at least $16 million.

Now that is a lot of money.

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But is it a good investment or is it going to all go to waste?

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Written by:

Shaharyar is a NASCAR writer at EssentiallySports. A graduate in Journalism from Amity University, he has been a passionate follower of motorsports for a better part of the decade. While Kyle Busch is always his first pick, he also considers Kyle Larson a legend in the making.

Edited by:

Ranvijay Singh

Amidst Michael Jordan’s Groundbreaking $30 Million Gain, Denny Hamlin Teases Massive Update to 23XI Racing Worth Nearly $20 Million

Denny Hamlin shows off a work-in-progress $3.7 million property for 23XI Racing

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23XI Racing’s new facility could cost Hamlin-Jordan a big amount