Michael Jordan Might Have to Settle an Expense of More Than $16 Million After His NASCAR Team’s President Makes a Public Statement

It’s been just a few years since the 23XI Racing team came into existence. However, with their driver lineup for 2023, with Bubba Wallace powering through along with new teammate Tyler Reddick, it seems that the team has been working towards proving their worth on the grid.

Recently, during an interview, the president of 23XI Racing revealed the plans for Micheal Jordan‘s NASCAR team. Moreover, the plans also indicated that Jordan might have to settle an expense of more than $16 million in the future.

The president of 23XI Racing, Steve Lauletta, said, “I don’t know where we’d be. We certainly want to. It isn’t just when is the right time. When’s the right driver available when the right partner sponsors, crew chiefs available? Can we get a charter is that available? There’s so many things that go into it. The puzzle pieces are massive.”

He then mentioned that they would keep “an eye on it and see when it happens”.

HAMPTON, GA – MARCH 20: The pit crew services Bubba Wallace 23 23XI Racing McDonald s Toyota during the running of the 64th annual NASCAR, Motorsport, USA Cup Series Folds of Honor QuikTrip 500 on March 20, 2022, at Atlanta Motor Speedway in Hampton, GA. Photo by Jeff Robinson/Icon Sportswire AUTO: MAR 20 NASCAR Cup Series – Folds of Honor QuikTrip 500 Icon2203203054500He also said that things might start to show in 2024 or beyond. However, they certainly have plans to grow the 23XI Racing team and “bring great partners into this sport” as well as improve their success both on and off the track. In the end, he mentioned how they were looking forward to future charters since it was required to grow the field with “competitive” cars.

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How much does it cost to run a NASCAR car?

As per the existing media deal, teams are covered for approximately $8–10 million per car. However, that does not cover the total costs of operations per racecar operated by the teams.

As per Sports Business Journal, costs can shoot up as high as $18 million for each car being run by top-performing competitive teams. It is estimated that the other teams who haven’t been at par with the top of the field would still be shelling out as much as $15 million at least.

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This has been the main talk between teams and the sanctioning body for quite some time. Teams have been asking for a higher cut from the upcoming fresh media deal. As per current reports, teams have been asking to nearly double the cut, estimated at around $16–$18 million annually to cover the costs for their cars.