What’s Happening?

23XI Racing made NASCAR Headlines this weekend by not signing the new Charter agreement. Not signing not only means major things for the team, but it might also affect one of NASCAR latest partners.

• Michael Jordan and driver Denny Hamlin own 23XI Racing. The team rose through the NASCAR ranks fast since its opening in 2021. Its lineup currently consists of Tyler Reddick and tenure driver Bubba Wallace. The team is progressive in its approach to the sport, both on and off the track.
• NASCAR’s Charter agreement sets the rules and benefits of NASCAR and its 36 team-owned Charters. The agreement helps fund teams with revenue sharing while giving NASCAR some control over the Charters.
• With the negotiations dragging on, NASCAR reportedly forced teams’ hands into signing on Saturday. Many owners anonymously stated they felt forced to sign the new agreement, with 23XI being one of two teams to refuse the new deal.

NASCAR: Full Speed

Last year, NASCAR and Netflix announced a partnership to create a long-awaited show similar to F1 Drive to Survive. Formula One had seen a boost in popularity since the creation of the show, and fans had long hoped that NASCAR could have a similar program.

After months of speculation and seemingly no word from NASCAR or Netflix, on January 30th, NASCAR: Full Speed debuted on Netflix. Fans were surprised with the depth of the show and its character development with some of the drivers that made up the 2023 Playoff field.

Most notable, aside from Hendrick Motorsports’ William Byron, was 23XI Racing. Standouts from 23XI weren’t just the teams’ drivers Bubba Wallace and Tyler Reddick, but owner Denny Hamlin and Wallace’s Crew Chief Bootie Barker.

For some fans, 23XI played a major factor in NASCAR: Full Speed’s success. Unfortunately, the team is holding out from signing NASCAR’s Charter agreement and could be holding out from the show’s filming.

Do We Know Anything for Sure?

A major rumor prior to the signing of NASCAR’s Charter agreement was that teams without a Charter agreement might not participate in the 2024 edition of the show.

Industry insiders gave no exact names as to who would hold out. Fans assumed that 23XI, as a major storyline of the first season and very outspoken on negotiations, could be one of those teams. Now that the team has held out on negotiations, that assumption could carry further.

There is little to no news or rumors as to whether 23XI held out on NASCAR and Netflix. In Atlanta, reporters swamped the team’s owners with other questions about holding out on negotiations. The team faces uncertainty with its finances and driver lineup if they were to lose their Charters.

Denny Hamlin, during his early media availability in Atlanta, made little comment on the negotiations, referring to 23XI’s statement on X.

Curtis Polk, a co-owner of 23XI, spoke the most about Charter negotiations this past weekend. However, his focus was on the more important issues of the Charter agreement rather than finer details like participation in the show.

For the time being, it looks like NASCAR: Full Speed could be without its stars from its first season. However, nothing is for sure until Netflix announces the show’s next season, as, similar to last season, who is involved is relatively unknown.

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