23XI Racing
23XI Racing is a privately held NASCAR Cup Series team co-owned by Michael Jordan and Denny Hamlin, competing with Toyota Camry XSE entries and monetizing on-track performance through corporate sponsorships, prize money, and charter franchise value.
- Company typePrivate
- Founded2020
- HeadquartersWashington, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What 23XI Racing does
23XI Racing is a privately held NASCAR Cup Series racing team founded in 2020 and co-owned by NBA legend Michael Jordan, driver Denny Hamlin (a 63-win Cup Series veteran still driving for Joe Gibbs Racing), and business partner Curtis Polk. The team fields Toyota Camry XSE entries in NASCAR's top series, with current primary operations centered on the No. 23 driven by Bubba Wallace, the No. 45 driven by Tyler Reddick, and the No. 67 driven by developmental driver Corey Heim. It operates from a 114,000-square-foot headquarters called Airspeed in Huntersville, North Carolina, opened in early 2024 to support engineering, operations, and administrative functions across an expanding car count.
The team's core product is competitive on-track performance, which it monetizes primarily through sponsorship deals with corporate partners including Monster Energy, McDonald's, Rockstar Energy, Hardee's, Fleetio, Field & Stream, Upper Deck, and Warner Bros. Discovery. Secondary revenue streams include NASCAR race winnings and prize money, the appreciation of NASCAR charter franchise rights (values rose from under $10 million to over $30 million following the 2024 antitrust settlement that granted 23XI evergreen charter status), and merchandise and licensing. Distribution of the team's value proposition occurs through NASCAR's broadcast ecosystem (FOX, NBC, Amazon Prime Video reaching roughly 2.9 million average viewers per race), at-track hospitality and activation, driver social media channels, and co-branded consumer campaigns with sponsors.
Go-to-market is event-driven: the team competes in the 36-race NASCAR Cup Series schedule across superspeedways, road courses, street courses, and intermediates, converting race performance and driver visibility into sponsor renewal and expansion. The 2026 season produced historic performance — Tyler Reddick won the Daytona 500 and became the first driver in NASCAR history to win the first three races of a season, with the team sweeping the first three events (a feat not accomplished since Petty Enterprises in 1963). The team is privately held, not currently raising external capital, and shows no public revenue disclosure.
23XI Racing firmographics
Firmographics- Name
- 23XI Racing
- Legal name
- 23XI Racing
- Website
- https://heylink.me
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- 23XI Racing is a privately held NASCAR Cup Series team co-owned by Michael Jordan and Denny Hamlin, competing with Toyota Camry XSE entries and monetizing on-track performance through corporate sponsorships, prize money, and charter franchise value.
- Ownership category
- akta.pro rank
23XI Racing industry classification
Industry- Product category
- Professional Motorsports Racing Services
- NAICS
- Sports Teams and Clubs (711211)
- SIC
- Services-Racing, Including Track Operation (7948)
- akta.pro primary industry
- Motorsports Teams (F1, NASCAR, IndyCar, Rally, MotoGP, etc.) (MPAKABAB)
- akta.pro secondary industry
- Motorsports Teams & Entrants (Factory & Independent) (MPAKAGAB)
Keywords
Where 23XI Racing is headquartered
LocationHeadquarters
- HQ city
- Washington
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
23XI Racing business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Supply Chain
Revenue model
- Sponsorship Revenue: Primary revenue stream from corporate sponsors paying for car branding, driver appearances, and race-day activation. Sponsors include Monster Energy, McDonald's, Rockstar Energy, Hardee's, Fleetio, and Field & Stream. The team has seen significant growth in sponsorship value with improved on-track performance.
- Race Winnings and Prize Money: Earnings from race victories, stage points, and championship finishes in the NASCAR Cup Series. Performance-based income increases with race wins and playoff advancement.
- Charter Value Appreciation: NASCAR charter values have appreciated significantly from under $10 million to over $30 million, enhancing team valuation and ownership equity. Evergreen charters secured through antitrust lawsuit settlement provide stable franchise value.
- Merchandise and Licensing: Revenue from team merchandise, licensed products, and collectibles featuring driver branding and team logos.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
23XI Racing product offering
Product offeringCore offering
23XI Racing is a NASCAR Cup Series racing team that fields Toyota Camry XSE entries (No. 23, No. 45, and No. 67) in NASCAR's top championship. The organization sells sponsorship-driven brand exposure, on-track racing performance, and race-day marketing activations to corporate partners, while competing for prize money and championship standings. Its commercial output is the racing operation itself: race entries, driver performance, hospitality, and licensed merchandise/collectibles.
Product overview
23XI Racing is a professional NASCAR Cup Series racing team that operates as a single, unified racing operation. The organization fields competitive entries in NASCAR's top series, providing racing competition services, driver development programs, and marketing/partnership opportunities for sponsors. The team does not offer modular products or SaaS offerings—its core product is its racing team operations, which include driver performance, technical development, and sponsorship integration.
Differentiator
Problem solved
Functional benefit
Products and services
- 23XI Racing NASCAR Cup Series Team
- Team Merchandise and Licensed Collectibles
Quantifiable outcome
- Won 5 of first 9 races in 2026 season - pace not seen since Dale Earnhardt in 1987
- +3 more outcomes
Companies that use 23XI Racing
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
23XI Racing technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
23XI Racing partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered flagship and core.
- Upper DeckflagshipMulti-platform campaign celebrating Space Jam 30th anniversary with 23XI Racing and Warner Bros. Features Bubba Wallace's No. 23 Toyota with custom Space Jam paint scheme, exclusive digital trading cards, signed die-cast models, and officially licensed artwork. Upper Deck hosts Space Jam 30th Anniversary Watch Party at Navy Pier on July 2.
- Warner Bros. DiscoveryflagshipPartnership with Upper Deck and 23XI Racing for Space Jam 30th Anniversary celebration including product releases, events, and exclusive memorabilia featuring Michael Jordan's legacy and NASCAR crossover appeal.
- Hardee'scoreLimited-time 'Bubba's Full Throttle Meal' collaboration with Bubba Wallace and 23XI Racing. Meal includes chicken tenders, fries, and Coke with exclusive collectible die-cast car. Marks Hardee's return to NASCAR sponsorship after 30-year hiatus as Official Quick Service Restaurant of NASCAR.
- FleetiocorePrimary partner with Corey Heim for Coca-Cola 600, featuring branding on No. 67 Toyota Camry XSE and pit crew uniforms. Partnership brings Fleetio's 'Your Fleet's New Pit Crew' campaign to NASCAR's most demanding race.
- Field & StreamcoreOfficial Partner for 2026 NASCAR Cup Series season with Corey Heim and his No. 67 team at center of collaboration. Partnership kicks off with Nashville race weekend takeover at Chief's on Broadway, including driver appearances, giveaways, and Field & Stream branding on car and firesuits.
- Rockstar EnergycorePrimary sponsor of Tyler Reddick's No. 45 Toyota Camry beginning at Talladega Superspeedway. Marked Rockstar Energy's first-ever NASCAR Cup Series sponsorship and replaces Monster Energy's decreased presence on the car.
- ToyotaflagshipTechnical and commercial partnership with Toyota Racing Development providing engineering support, chassis development, and manufacturer backing. All 23XI Racing cars compete as Toyota Camry XSE entries in NASCAR Cup Series.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
23XI Racing competitors and assessment
Company assessmentDirect peers
- Hendrick Motorsports: The benchmark four-car Cup team and all-time winningest NASCAR organization; directly comparable as a multi-car chartered team competing for manufacturer championships, sponsorships, and playoff positioning.
- Joe Gibbs Racing: Three-time Daytona 500 winner Denny Hamlin is both 23XI's co-owner and a full-time JGR driver, making JGB the closest direct peer: a multi-car Toyota Cup team competing for wins and championships with significant engineering scale.
- Team Penske: Three-car Ford Cup operation with deep engineering resources and multiple championships; directly comparable in scale, charter structure, and pursuit of title sponsorship and major OEM partnerships.
- Wood Brothers Racing: Long-running single-car Ford Cup team that fields one chartered entry; relevant as a smaller, heritage operation sharing the same charter economics and sponsorship market as 23XI.
- Trackhouse Racing: Two-car Chevrolet team co-owned by Justin Marks with a similar celebrity-adjacent ownership profile and rapid rise to competitiveness; the closest cultural and structural peer to 23XI in the modern Cup garage.
- Front Row Motorsports: Co-litigant with 23XI in the 2024-2025 antitrust suit against NASCAR and recipient of the same evergreen charter settlement; directly comparable as a mid-sized chartered team that gained structural franchise uplift.
- Legacy Motor Club: Toyota Cup team operating in the same manufacturer ecosystem as 23XI, with a similar two-car scale and recent rebranding/transformation; comparable in technical partner alignment and team size.
- Roush Fenway Keselowski Racing: Two-car Ford Cup operation pursuing wins and sponsorships; comparable in scale and commercial dynamics, though operating on a different manufacturer platform.
- Richard Childress Racing: Two-car Chevrolet Cup team with long NASCAR history and a driver development pipeline; comparable as a multi-car chartered operation pursuing sponsorship dollars and playoff contention.
Broad incumbents
- McLaren Racing (F1/NASCAR): Established global motorsport entity with a recently launched NASCAR Cup presence; relevant as a larger, multi-series motorsport owner competing for OEM alliances and corporate sponsors in the same race-weekend ecosystem.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
23XI Racing social profiles
Digital presence23XI Racing financial estimates
Financial estimateRevenue estimate
Valuation estimate
23XI Racing leadership team
Management profileNumber of profiles
Profiles4 records
23XI Racing funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
23XI Racing M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about 23XI Racing
What does 23XI Racing do?
23XI Racing is a NASCAR Cup Series racing team that fields Toyota Camry XSE entries (No. 23, No. 45, and No. 67) in NASCAR's top championship. The organization sells sponsorship-driven brand exposure, on-track racing performance, and race-day marketing activations to corporate partners, while competing for prize money and championship standings. Its commercial output is the racing operation itself: race entries, driver performance, hospitality, and licensed merchandise/collectibles.
Is 23XI Racing a public or private company?
23XI Racing is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was 23XI Racing founded?
23XI Racing was founded in 2020. It employs 11 to 50 people.
Where is 23XI Racing based?
23XI Racing is headquartered in Washington, United States, in the North America region.
How does 23XI Racing make money?
Four revenue lines are on record. Sponsorship Revenue is the primary driver. The others are race Winnings and Prize Money, charter Value Appreciation and merchandise and Licensing.
Who are 23XI Racing's main competitors?
Direct peers on record are Hendrick Motorsports, Joe Gibbs Racing, Team Penske, Wood Brothers Racing, Trackhouse Racing, Front Row Motorsports, Legacy Motor Club, Roush Fenway Keselowski Racing and Richard Childress Racing. McLaren Racing (F1/NASCAR) is listed as a broad incumbent.
Does 23XI Racing have an API?
No public API is recorded for 23XI Racing.
What industry is 23XI Racing in?
23XI Racing's product category is Professional Motorsports Racing Services. Its primary akta.pro industry code is MPAKABAB, Motorsports Teams (F1, NASCAR, IndyCar, Rally, MotoGP, etc.), with a secondary code of MPAKAGAB, Motorsports Teams & Entrants (Factory & Independent). Its NAICS code is 711211 and its SIC code is 7948.