Insider shares update on $3.2B worth Michael Jordan’s future in NASCAR

There has been much speculation about the team's future in NASCAR following Bubba Wallace's contract extension with the Michael Jordan and Denny Hamlin-owned 23XI Racing. Notably, 23XI Racing and Front Row Motorsports did not sign the latest charter negotiation agreement. NASCAR insider Bob Pockrass noted that the fate of their charters remains uncertain.

Both Bubba Wallace and Denny Hamlin had previously indicated that Wallace's contract renewal was significantly tied to the outcome of the charter agreement. NASCAR had presented teams with the final draft of the agreement, setting a deadline of September 6, before the commencement of the playoffs. However, finding the terms of the deal insufficiently favorable, both 23XI Racing and Front Row Motorsports opted not to sign.

The current charter agreement is set to expire at the end of this season, throwing uncertainty over the charters held by both 23XI Racing and Front Row Motorsports. The future of these four charters is now in NASCAR's hands, depending on how they choose to proceed. Addressing a fan's query about the future of 23XI Racing's charters following Bubba Wallace’s contract renewal, insider Bob Pockrass explained:

"Still TBD on 23XI and Front Row charters. If they don't sign, then TBD what NASCAR does with those charters (sell them, hold them to see if they sign, etc). They can field open cars but the payouts (at least under the current deal) less than a third of what charter teams get."

Furthermore, should the charters indeed expire, the teams could continue to compete, albeit at a substantial financial disadvantage.

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Denny Hamlin discusses the playoff elimination concerns amid the NASCAR Charter drama

Denny Hamlin, currently grappling with the threats of playoff elimination amid the unfolding NASCAR Charter controversy, finds himself among the last four in the Round of 16 after a series of setbacks. At Atlanta Motor Speedway, mechanical woes relegated his #11 Toyota to a P24 finish, starting from the back at P38 due to a power issue. The troubles compounded at Watkins Glen, where involvement in two crashes further jeopardized his standings.

Reflecting on his precarious position in the playoffs, Hamlin commented,

"I mean, certainly I don't love where I'm at, that's a given. But I still think if I just do the best I can tomorrow, do the best I can on at Bristol, it still will work itself out. But if it doesn't, it doesn't. I mean, my number one goals is getting to a wind tunnel, and I got plenty of races to do that. So, I'm going to try to win at least two races in this playoffs, and hopefully they count towards something."

Entering the final race of the Round of 16 of the Cup playoffs at Bristol Motor Speedway, his track record boasts an average finish of 13.6, including victories in the last two encounters.