Speculation Heats Up After Denny Hamlin Performs Alleged U-Turn in Kickstarting “Big Plans” at $150 Million NASCAR Team

While a lot of news coming into the NASCAR world, this year has been good and fun, this one might create a stir. February, bringing in the start of NASCAR season is something for the fans to look for. But the latest updates by 23XI Racing are sure to start a debate with what Denny Hamlin said last year. 

Adam Stern, who is a Motorsport reporter for Sports Business Journal posted a picture of Bubba Wallace of 23XI Racing. With the picture, he wrote, “23XIRacing plans to break ground on its new HQ near Charlotte in the coming weeks and move in by 2024.” It looks like the team owned by Michael Jordan and co-owned by NASCAR Cup Series star Denny Hamlin will start the work to build their new headquarters in Charlotte soon.

Fans react to the news of the new 23XI HQ

But this comes in with a lot of speculation due to Hamlin’s stand on NASCAR’s business model that he raised last year. Stern also wrote, “While @DennyHamlin said last year that major investments were on hold until TV talks with NASCAR were resolved, the team is moving forward in hopes that the talks succeed.”

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What Denny Hamlin said in 2022

NBA superstar Michael Jordan and NASCAR star Denny Hamlin joined hands in 2021 partnering for 23XI Racing. Hamlin, with all his experience, showed his desire to take the sport toward growth in the future. Last year, pausing the growth for 23XI Racing, he said, “I will go on the record saying that I had a meeting with Jim France and my message was clear that we need to stop talking about cutting,”

As he has been vocal about things that need change, he said, “Cutting does not equal growth. If we start working collectively then we can grow this sport together. But the business model will have to change for that to happen. We at 23XI have big plans. But those plans are on hold until we see change.” The issues raised by him mainly were the costs of operating a Cup Series team with the Next Gen race car. Secondly, if the race teams will be able to get more television money in the sport’s next media rights deal. Not just this, but he has also been vocal about the issues related to racing, such as track conditions, the NASCAR schedule, revenue sharing, and more. 

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Well, evolving with time is certainly important, and Hamlin makes a fair point. So does this mean that changes are coming in for NASCAR or is the new headquarter coming up in 2024 have nothing to do with it or the funding? What do you think? Do leave your comments below.