When the charter system was introduced in 2016 to promote and “produce the best-in-class racing,” many heads turned within the stock-car racing community. This established a new system enabling 36 teams to consistently compete for Cup Series points, fostering a “healthy ownership” landscape. With the 2020 extension agreement expiring this year and a new $7.7 billion broadcast deal on the horizon, the buzz surrounding this agreement has fallen under scrutiny. Amidst these extension struggles, though, Michael Jordan and Denny Hamlin’s 23XI Racing is rumored to be going one step forward.

In a recent YouTube video, Eric Estepp highlighted a rumor circulating among NASCAR Insiders, including veteran spotters Freddie Kraft and Brett Griffin. While Griffin himself hasn’t directly commented, his racing lifestyle venture, Couch Racer, recently fueled speculation with a tweet: “At least two tier one teams are looking to expand next season.” Veteran spotter Kraft added to the intrigue during a DBC episode, stating that one of these teams might be seeking a “third charter.”

Can Michael Jordan’s team expand in 2025? Hamlin hints at a third charter interest

Sports Business Journal recently interviewed Denny Hamlin, and it seems the JGR driver is assumably open to a third charter in the face of “investment” opportunities, albeit stating that “everything is just kind of hanging on waiting to see what Jim [France, NASCAR CEO] decides to do.” However, in this rumored bid for a third charter, 23XI could face competition from two similar contenders–Justin Marks and Pitbull co-owned Trackhouse Racing and Brad Keselowski’s RFK Racing.

But the TRD giants could very well be the team to pick up the third charter in 2025. However, there are a few factors that Hamlin, Michael Jordan, and his right-hand man, Curtis Polk, must take into consideration. First: the other rising teams, such as Trackhouse Racing, RFK, or Legacy Motor Club. Second: whether or not any teams are indeed interested in giving out their existing charters to a rapidly evolving field.

In his video, Estepp highlighted teams such as Kaulig Racing, SHR, and Spire Motorsports could profit from selling one of their charter spots to Hamlin’s 23XI. However, Chris Rice, president of Kaulig Racing, recently stated on SiriusXM’s NASCAR Radio, “We’re not looking to sell. We never have been; never will be. And I don’t forsee Matt [Kaulig] looking to sell in the next 24 months.” Although Stewart-Haas Racing and Spire Motorsports have different agendas, the bigger problem lies with the initial consideration–other relatively new teams vying for a third charter, especially Trackhouse and RFK.

Trackhouse has a plethora of talent waiting to join the ranks in the top division, from debut race-winners like 3x Supercars champion Shane van Gisbergen to teenage talents such as Connor Zilisch in the Truck Series. The team owns the #1 and #99 charter, with Ross Chastain and Daniel Suarez operating the wheels, respectively. However, their part-time #91 entry could finally have a full-time replacement, considering the overflow of racing talent within the Trackhouse stable.

On the other hand, Brad Keselowski has openly called for a permanent expansion with a third charter for the Ford Performance-backed RFK Racing. Besides Chris Buescher’s #17 and Keslowski’s #6 teams, RFK occasionally fields a third car. The #60 Mustang Dark Horse was last driven by David Ragan at Daytona in the season-opener. Moreover, Keselowski has been aggressive with his expansion ideas, as he has also talked about RFK branching out to the IMSA series.

In what could be a three-way expansion battle, 23XI Racing could face impressive competition. But in the face of a $16 million investment for a new HQ in North Carolina, which teams could likely free up their “$40 million or so” chartered spot to make room for a new member in 2025?

Who could sell to 23XI Racing?

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Estepp touched on the fact that NASCAR may soon see a SHR-Ford fallaway. Given this, it seems only probable for Tony Stewart’s organization to free up one of their four chartered spots to benefit from the demanding NASCAR Cup Series pay structures. Stewart-Haas Racing has had dismal showings in the 2024 season after Kevin Harvick’s retirement in 2023. Furthermore, Harvick was the last to bring SHR a championship in 2014, a decade ago.

With the soon-to-change charter situation heating up debates and discussions, it would make sense for Tony Stewart to consider offering any of SHR’s spots to another team, helping them shake things up for good in 2025. Another team that has often been active in charter negotiations lately is Spire Motorsports. Spire currently possesses three out of the 36 charters in the NCS field, and theirs is an interesting case.

In 2021, Corey LaJoie became their most recognized driver, leading the #7 car, while Spire acquired the #71 and #77 charters. Trackhouse Racing’s development driver, Zane Smith, currently controls the #71 Camaro ZL1, while 21-year-old Carson Hocevar has been operating the #77 wheel since his return to Spire from Legacy Motor Club this year. The 6-year-old team looks to be the perfect contender looking to sell to either 23XI, Trackhouse, or RFK, considering the inexperience resonating with the #71 and #77 spots.

That said, for now, 23XI Racing fans will have to settle for the dynamic duo of Tyler Reddick and Bubba Wallace in the #45 and #23, respectively. With Kamui Kobayashi already bringing out the third #50 Toyota for a part-time spin in COTA last week, Reddick and Bubba could very well have a permanent teammate at 23XI soon.

NASCAR Rumors: Trackhouse Racing One of Two Teams Expected to Expand Charters in 2025 With Kaulig Racing Buyout; Fans Awaiting Announcement