Denny Hamlin Bites Back Against “Filthy Greedy Pigs” Accusations Against Michael Jordan, Rick Hendrick & Co. Amid Ongoing NASCAR Row

It’s no secret that NASCAR teams are amidst a financial crunch. May it be Joe Gibbs Racing, Hendrick Motorsports, or billionaire Michael Jordan and driver Denny Hamlin owned 23XI Racing. And hence, the Team Negotiation Committee’s decision to send a seven-point proposal to NASCAR in June 2022 received unanimous support.

However, unexpectedly, the governing body sent out a counteroffer. The one where they requested the teams to cut back their costs dramatically.

In the latest episode of Actions Detrimental, Denny Hamlin talked about how cutting back costs is not an answer to the revenue-related demands in the seven-point proposal. Supporting the demand for 2025 TV rights and a revenue-sharing model, Hamlin said,

“It’s not because the owners are filthy greedy pigs. It is because the landscape of our sport has changed over the last few decades. And when we race 38 times a year, it becomes very tough for us to cut any more than we’ve already cut. We are at 23XI seventy-something employees, so very lean. People like Hendrick Motorsports have 500 employees. Joe Gibbs Racing has cut back to probably low 400 to maybe 300 now.”

Furthermore, Hamlin explained why it is extremely difficult for teams to lower their operational costs. Revealing how teams like 23XI Racing are heavily dependent on bigger teams like JGR, Hamlin shared the issues surrounding cost reduction.

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How is 23XI Racing heavily dependent on Joe Gibbs Racing?

Denny Hamlin and Michael Jordan co-own 23XI Racing. Hence, who else than Hamlin can provide a better insight into the everyday workings of the team? While citing external dependency as a major problem, Hamlin said,

“We are not a manufacturing facility at 23XI. We have to get most of our parts and pieces through Joe Gibbs Racing. And for those who don’t know, we can’t just buy everything off the shelf.

There’s over 300 parts that JGR manufactures, that is on that race car that is not off the shelf. Which is why it costs …You know the car usually costs around 250 grand….add in all those parts we get manufactured from JGR to put on our cars… Over 300 parts and over 300 grand easily. Easily!”

Denny Hamlin reveals why teams have no options left

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Moreover, Hamlin explained how there are several reasons that hinder the impractical cost-cutting solution provided by NASCAR. The Joe Gibbs Racing driver pointed out that a decline in sponsorship, the impact of the 2008-09 recession, and the changing sports advertisement industry are huge factors that affect the financial standing of a team.

WATCH THIS STORY: Michael Jordan’s NASCAR Partner Agrees With Rival Over Major Change in the Sport Regarding “Big Races”

He further said, “So, cars cost what they cost. The travel is what it is. We can’t negotiate with hotel rooms. The labor is what it is. The tires cost what they cost. There’s no where else for the teams to cut.”

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Like Hamlin, many other team owners are struggling to maintain their financial stability over the years. Disappointed by the governing body’s suggestion of lowering costs, the teams, along with the Team Negotiations Committee are now dedicated to finding a business model that proves to be beneficial to all.