Denny Hamlin Uncovers Michael Jordan’s Key Contribution in NASCAR’s Charter Negotiation

When 23XI Racing made its debut in 2021, the NASCAR community knew it was going to be big. Titans of two sports, Michael Jordan and Denny Hamlin, collaborating to form a team is as exciting as it gets. However, Jordan hasn’t entered the sport to be a superficial owner. Having been a regular presence at NASCAR races, the 6-time NBA champion has been an active participant in the team’s development. Revealing more about it, Hamlin claimed that MJ was one of the leading voices that bridged the gap between NASCAR and Cup Series teams during charter system negotiations.

The annual revenue generated by a team’s charter fulfillment is around $9 million. NASCAR teams have had a tough time adjusting to the payout as it is insufficient to secure a team’s operating cost. With the situation portraying a difference in NASCAR and the teams’ evaluation of a charter, having experienced and strong voices like Michael Jordan, Denny Hamlin, and Rick Hendrick was a big help.

Denny Hamlin claims Michael Jordan resonated with Rick Hendrick’s opinion

Last year, NASCAR announced its plan to expand the broadcasting landscape through a $1.1 billion media rights deal. NASCAR will receive this amount annually, and this eclipses the previous deal’s annual return of $820 million by 34%. Owing to the announcement, Cup Series teams naturally wanted a bigger share of the broadcasting revenue. When team owners reached out to NASCAR to discuss the same, 23XI owners Denny Hamlin and Michael Jordan added valuable inputs to the conversation.

Being a former majority owner of the Charlotte Hornets and having observed the business side of sports closely, MJ was among the leading contributors to it. Revealing his partner’s importance to the conversation on Actions Detrimental, Hamlin said, “Michael attended it. It was great to hear voices like his, Rick Hendrick, and Roger Penske; everyone was right there.”

“Hearing these guys who are very versed in business, their side, and how they feel certainly I believe that all teams are aligned in a sense. They all feel the same way for sure.”

With the current charter deal ending in 2024, Cup Series teams are eager to know the improvements this 12-month window could provide. While Denny Hamlin is unaware of the Team Negotiation Committee’s motion, he had disclosed his opinion about it in an earlier episode of Actions Detrimental.

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Hamlin doesn’t believe there has been any progress in the charter system plan

The Team Negotiation Committee comprises the best minds from Cup Series teams. While Denny Hamlin isn’t a part of it, HMS vice chairman and 4-time champion Jeff Gordon, JGR president Dave Alpern, RFK Racing president Steve Newmark and Michael Jordan’s right-hand man, Curtis Polk lead the communications with NASCAR.

Divulging his thoughts on the situation, the Joe Gibbs Racing driver said, “Certainly, I can’t speak for the TNC (Team Negotiating Committee). They’re the ones who have been in the in-depth negotiations and sitting in rooms with NASCAR for hours on end, but, here we are in the 11th hour again. We tried to start these conversations 2 years ago, and it’s just been delay delay delay and now here we are, we’re at the end of the rope…There’s certainly some work to be done, right?”

“Do I believe we are closer to a deal now than we were 12 months ago? I don’t think so,” added Hamlin.

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The charter deal progressing ahead will be a massive development for the sport. Considering an increase in revenue, diverting more finances towards teams could improve the quality of the competition and even result in increased payouts.