23XI Racing Acquire a Charter Amid Kurt Busch’s Arrival

Published 11/14/2021, 5:31 AM EST
Feb 28, 2021; Homestead, Florida, USA; NASCAR Cup Series driver Bubba Wallace(23) races during the Dixie Vodka 400 Homestead-Miami Speedway. Mandatory Credit: Jasen Vinlove-USA TODAY Sports


When NASCAR announced the Charter System in 2016, it was aimed at increasing stability and long-term growth for team owners. The system also opened a ‘clear path’ for new owners into NASCAR. Last year, NASCAR driver Denny Hamlin and NBA legend Michael Jordan purchased a charter and formed the 23XI Racing team.

ADVERTISEMENT

Article continues below this ad

And for the 2022 season, it’s rumored that the 23XI outfit has bought another charter for ‘newcomer’ Kurt Busch.

ADVERTISEMENT

Article continues below this ad

It could be assumed that the charter seller in question is either Rick Ware Racing or Spire Motorsports.

This year, Rick Ware Racing’s cars have finished in the 36th position. In the last two seasons, they finished in 35th and 36th positions, respectively.

Spire Motorsports have finished in 31st this season but they finished 34th in 2020 and 35th in 2019.

So, naturally, they’re the two teams who are speculated to have sold their charter, but it’s looking like it’s RWR.

23XI Racing expansion, other entries and exits through charters in NASCAR

It was earlier reported that Front Row Motorsports would sell one of their two charters to 23XI Racing. But the ‘done deal’ somehow fell through later. This was disappointing for the Hamlin-Jordan-operated team because they had already announced Kurt Busch as their driver in the expanded team without acquiring a charter first.

Busch himself is making his move from Chip Ganassi Racing, another team whose charter is being acquired by Trackhouse Racing in 2022.

Dale Earnhardt Jr. also expressed his desire to take part in the 2022 season. But he could not acquire a charter, especially when he learned of the price.

ADVERTISEMENT

Article continues below this ad

“That’s my out of my range, I’ll tell you that. JR Motorsports won’t be racing in the NASCAR Cup Series if that’s what a charter is going for — I’m just being honest,” he said, as reported by Auto Week.

The current price to own a charter is upwards of $10 million.

Sep 27, 2020; Las Vegas, Nevada, USA; NASCAR Cup Series driver Jimmie Johnson (48) races for position along side driver Bubba Wallace (43) during the South Point 400 at Las Vegas Motor Speedway. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports

While charters have fulfilled their purpose of introducing more stability and financial incentives for owners in NASCAR, the fact that NASCAR only allows 36 charters has also led to buying or selling one becoming much more costly because of simple demand and supply rules.

ADVERTISEMENT

Article continues below this ad

Enjoyed reading this article? Download our exclusive app to get 24x7 coverage, latest memes and social media banter. Click here to download.

SHARE THIS ARTICLE :

ADVERTISEMENT

Shaharyar

184 articles

Shaharyar is a Formula 1 & NASCAR writer at EssentiallySports. A Graduate in Journalism from Amity University, he has been a passionate follower of motorsports for the better part of the decade. A Max Verstappen and Ferrari supporter, he dreams of a pairing of the two in the future.

ADVERTISEMENT

ADVERTISEMENT