23XI Racing Acquire a Charter Amid Kurt Busch’s Arrival

When NASCAR announced the Charter System in 2016, it was aimed at increasing stability and long-term growth for team owners. The system also opened a ‘clear path’ for new owners into NASCAR. Last year, NASCAR driver Denny Hamlin and NBA legend Michael Jordan purchased a charter and formed the 23XI Racing team.

And for the 2022 season, it’s rumored that the 23XI outfit has bought another charter for ‘newcomer’ Kurt Busch.

It could be assumed that the charter seller in question is either Rick Ware Racing or Spire Motorsports.

This year, Rick Ware Racing’s cars have finished in the 36th position. In the last two seasons, they finished in 35th and 36th positions, respectively.

Spire Motorsports have finished in 31st this season but they finished 34th in 2020 and 35th in 2019.

So, naturally, they’re the two teams who are speculated to have sold their charter, but it’s looking like it’s RWR.

23XI Racing expansion, other entries and exits through charters in NASCAR

It was earlier reported that Front Row Motorsports would sell one of their two charters to 23XI Racing. But the ‘done deal’ somehow fell through later. This was disappointing for the Hamlin-Jordan-operated team because they had already announced Kurt Busch as their driver in the expanded team without acquiring a charter first.

Busch himself is making his move from Chip Ganassi Racing, another team whose charter is being acquired by Trackhouse Racing in 2022.

Dale Earnhardt Jr. also expressed his desire to take part in the 2022 season. But he could not acquire a charter, especially when he learned of the price.

“That’s my out of my range, I’ll tell you that. JR Motorsports won’t be racing in the NASCAR Cup Series if that’s what a charter is going for — I’m just being honest,” he said, as reported by Auto Week.

The current price to own a charter is upwards of $10 million.

While charters have fulfilled their purpose of introducing more stability and financial incentives for owners in NASCAR, the fact that NASCAR only allows 36 charters has also led to buying or selling one becoming much more costly because of simple demand and supply rules.

Also Read: “He’s All Invested, All In” – Bubba Wallace on Michael Jordan’s Involvement in NASCAR Team 23XI Racing