Denny Hamlin Reveals Timeline on Michael Jordan’s $150 Million NASCAR Team’s $16 Million Asset Going Live

The NBA legend Michael Jordan’s foray into the world of stock car racing so far has been quite a performance. With two veteran athletes as co-owners of 23XI Racing, they have tried and tested to stay at par with other established NASCAR teams. And to add to the fact, the team has already tasted victory, since its inception back in 2020.

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The team notched its first victory in the ongoing season as Tyler Reddick took the chequered in his first year with the team at the Circuit of The Americas. Nevertheless, it seems there is more left in the development of the team as Denny Hamlin relayed information about the development of the team’s headquarters.

Denny Hamlin professes a timeline for their million-dollar project

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Although the driver is yet to seize a Cup Series championship, that does not stop Denny Hamlin from building an impressive resume as a driver. With three Daytona 500 wins, the JGR driver has proved himself to be second to none. Moreover, his records are not only restricted to his on-track achievements but span around as a successful team owner of 23XI Racing along with his other team owner NBA legend Michael Jordan.

In order to take their team to the next level and make sure it stands up to the expectations of the NASCAR community, the team announced its $16 million investment, earlier in the year.

The 23XI Racing team which is approximately valued at a whopping $150 million, announced the construction of its new headquarters in Huntersville. Earlier, no concrete answer was provided as to when the facility would be unveiled. However, it seems that one can expect it to be inaugurated within a few months’ time, and this is evident from the words of the co-owner.

Hamlin who appeared in the latest episode of Rubbing is Racing, was asked, “Are you guys considering or have you had any discussions or potentially adding another charter to the 23XI camp and maybe getting another car?”

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To this, Hamlin stated, “Well, that’s why we are building a new headquarters is because we are kind of landlocked where we are at right now and we can’t afford, we can’t put anything else on the building.

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“We got people stacked on top of each other in the front office now so that’s why we are building new headquarters and Huntersville that should be done late this year, early next year and that’s going to open up the possibilities for us to expand our personnel and teams and stuff in the future so, it’s on the horizon, but we don’t know exactly the right time is for us,” Hamlin added.

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While the exact outcome of the construction is still awaited, Denny Hamlin had provided a glimpse of the under-construction facility. The driver in his Instagram stories had offered a sneak peek into under construction of what would be the owner’s suite and owner’s garage.

The co-owner of 23XI Racing provided a sneak peek into the future of their team

Exhibiting the massive framework in its skeleton form, the driver had captioned, “Man I love design.” This upcoming facility which is backed by $16 million is being constructed on a 15-acre plot that the JGR driver had acquired back in 2021 for $3.7 million.

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With that being said, it is to be seen how the team shapes its future steps and moves forward in order to churn out more victories. Moreover, it will be interesting to watch whether the team fields only two cars or is able to acquire another charter and field a three-car team.