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

There has been considerable debate about the future of the team in NASCAR following Bubba Wallace’s contract extension with 23XI Racing, the team co-owned by Michael Jordan and Denny Hamlin. A key development in this situation is that both 23XI Racing and Front Row Motorsports have chosen not to sign the latest charter negotiation agreement put forward by NASCAR. This has led to uncertainty regarding the status of their charters. NASCAR insider Bob Pockrass has pointed out that the future of these charters is now in question, as neither team agreed to the new terms.

Previously, both Bubba Wallace and Denny Hamlin had suggested that Wallace’s contract renewal was closely linked to the outcome of the charter agreement negotiations. NASCAR had given teams a final draft of this agreement and set a deadline of September 6, just before the playoffs began. However, both 23XI Racing and Front Row Motorsports found the terms unsatisfactory and decided not to sign the deal. The existing charter agreement is set to expire at the end of the current season, which leaves the status of the charters held by these two teams in limbo. The fate of these four charters will depend on NASCAR’s decisions moving forward. In response to a fan’s question about what might happen to 23XI Racing’s charters after Bubba Wallace’s contract extension, Bob Pockrass explained that the situation remains uncertain. He noted that if 23XI Racing and Front Row Motorsports do not sign the agreement, it is unclear what NASCAR will do with the charters—whether they will be sold, held to see if the teams sign later, or something else. Without charters, teams can still compete, but they would face significantly lower payouts compared to chartered teams, which receive a much larger share.

Additionally, if the charters do expire, the affected teams would continue to participate in races but would be at a substantial financial disadvantage compared to their chartered counterparts.

Amid the NASCAR charter drama, Denny Hamlin is also dealing with the stress of potential playoff elimination. Currently, he is among the last four drivers in the Round of 16, following a series of unfortunate events. At Atlanta Motor Speedway, mechanical issues resulted in a 24th-place finish for his #11 Toyota, which had started the race from 38th position due to a power problem. Things did not improve at Watkins Glen, where Hamlin was involved in two crashes, further complicating his playoff situation.

Reflecting on his challenging position in the playoffs, Hamlin expressed his concerns but maintained a hopeful outlook. He admitted that he was not pleased with his current standings but remained optimistic. Hamlin emphasized that his focus was on performing his best in the remaining races, particularly the upcoming one at Bristol Motor Speedway. He expressed a goal of winning at least two races during the playoffs and hoped that these wins would contribute to his overall standings. With the final race of the Round of 16 approaching at Bristol, Hamlin’s track record includes an average finish of 13.6 and victories in the last two races held at the venue.

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