BREAKING NEWS: Bubba Wallace Asks Denny Hamlin to Join \$52 Million Deal to Buy 23XI Racing
Charlotte, NC — May 17, 2025
In a stunning turn of events just moments ago, NASCAR star Bubba Wallace has publicly asked Denny Hamlin to join him in a massive \$52 million investment to take full ownership of the 23XI Racing team — a move that could reshape the future of NASCAR.
The announcement came via a surprise post-race media scrum at Charlotte Motor Speedway, where Wallace, visibly energized and surrounded by media, revealed his intent to buy out 23XI Racing and called on Hamlin — his team co-owner and close associate — to join him in the high-stakes endeavor.
“Denny, you know how much this team means to both of us,” Wallace said passionately. “Let’s go all in. Let’s take control and bring it to the next level. I’m putting \$26 million on the table, and I want you to match it. Let’s make this ours.”
23XI Racing, which was co-founded in 2020 by NBA legend Michael Jordan and Denny Hamlin, has quickly become one of NASCAR’s most high-profile teams, competing in the NASCAR Cup Series with Wallace as its original driver. The team has expanded operations over the years, adding talented drivers, achieving notable wins, and becoming a fan favorite.
Sources close to the situation say Wallace has been in talks with financial backers and sponsors for several months about expanding his role within the organization. However, today’s move appears to be a dramatic shift — from driver to prospective team owner.
Denny Hamlin, currently balancing his duties as both team co-owner and active driver for Joe Gibbs Racing, was reportedly caught off guard by Wallace’s public proposal. Hamlin, who was in a separate media session when Wallace made the announcement, has yet to issue a formal response but is expected to address the situation later this evening.
“It’s bold, it’s unexpected, and it’s very Bubba,” said NASCAR analyst Marty Snider on NBC Sports shortly after the news broke. “This is a guy who’s always wanted to lead, to push the sport forward. And now, he’s taking a massive step toward doing just that.”
Wallace, 31, has grown into one of NASCAR’s most visible and influential drivers — not only for his performance on the track but also for his activism and efforts to make the sport more inclusive. His rise through the sport, culminating in his historic Cup Series victory in 2021, has made him a symbol of progress within NASCAR.
“This isn’t just about racing,” Wallace told reporters. “It’s about ownership. It’s about taking the reins of what we’ve built and pushing it even further. Michael \[Jordan] gave us this platform, and now it’s time we show what we can do with it.”
Industry experts estimate that the value of 23XI Racing has skyrocketed in recent years, making the \$52 million offer a serious — though not unreasonable — valuation. Wallace’s proposed deal would reportedly see him and Hamlin buy out Jordan’s stake, although Jordan’s camp has not yet issued a comment.
NASCAR President Steve Phelps issued a brief statement acknowledging the development: “We’re aware of the report involving Bubba Wallace and Denny Hamlin. NASCAR has always encouraged team growth and driver involvement in team ownership. We look forward to learning more.”
As the motorsports world reels from the bombshell, fans and analysts alike are speculating about what this could mean not only for 23XI Racing but for NASCAR as a whole. If successful, the deal would mark one of the most significant shifts in team ownership in the sport’s modern history — and it would further cement Bubba Wallace’s legacy as a trailblazer on and off the track.
