23XI Racing and Front Row Motorsports are currently in court against NASCAR. The antitrust trial began on Monday.
NASCAR lawsuit opened by 23XI Racing and Front Row Motorsports
Denny Hamlin is the driver of the No. 11 for Joe Gibbs Racing. He serves in a unique position within the sport as an owner of 23XI Racing while also driving for another team.
He’s a 21-year veteran of the sport driving for one of the best teams. With 721 NASCAR Cup Series starts, Hamlin has collected 60 race wins. That includes six wins in the 2025 season.
Hamlin took the stand for several hours on Tuesday which brought light to a lot of the financials. The 45-year-old is the co-owner of 23XI Racing with a 40% stake in the team, which was revealed in court.
Hamlin testified under oath that he makes approximately $14 million per year as a driver of the No. 11 car.
Other notes from the testimony included that Denny Hamlin has invested $45M into 23XI Racing. $10M of that is in cash while the other $35M in loans.
23XI Racing made $3 million in 2023. As previously reported, Front Row Motorsports owned stated that’s he’s lost $100M since getting involved in NASCAR.
The team opened their famed ‘Airspeed’ race shop near Charlotte, North Carolina in 2024. The cost of that building alone was $35M.
NASCAR team owner says he’s lost $100M in the sport
On Wednesday, NASCAR executive vice president Scott Prime will return to the stand for his testimony.
NASCAR | Joe Gibbs Racing | 23XI Racing | Front Row Motorsports
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