Denny Hamlin’s recent NASCAR charter deal, forged alongside co-owner Michael Jordan at 23XI Racing, has sent shockwaves through the sport, changing the landscape for teams and shaking the foundation of how value in NASCAR is defined. On December 11, 2025, Hamlin’s move brought palpable excitement and tension to the Cup Series, forcing both established and new team owners to confront a radically transformed business model.
Hamlin and Jordan’s High-Stakes Gamble Pays Off
What once seemed unlikely became reality as Denny Hamlin met with NASCAR CEO Jim France in a moment symbolizing the conclusion of a turbulent dispute. Together with Michael Jordan, Hamlin risked their team and assets, igniting significant changes across the sport. Their willingness to challenge the prevailing system ultimately led to a major shift in how teams will operate moving forward, demonstrating that courage and calculated risks can dramatically redefine NASCAR’s business ecosystem.
Transforming Team Fortunes: Hamlin’s Impact on the Cup Series
Hamlin’s role in the charter negotiations has not gone unnoticed by his peers. As Landon Cassill quipped to Parker Kligerman about the level of appreciation team owners owe to Hamlin,
“Does Hendrick, Roush, Penske – do they tip him [Denny Hamlin] out for that?”
— Landon Cassill, driver, sparking discussions about Hamlin’s influence. Kligerman replied,
“They’d at least buy him a drink.”
— Parker Kligerman, analyst, underscoring the gravity of Hamlin’s accomplishment. To which Cassill added,
“I’d think a pretty nice bottle of champagne.”
— Landon Cassill, driver, capturing the sense of collective gratitude among owners.
The economic impact was immediate and widespread. From major owners like Roger Penske, Rick Hendrick, and Joe Gibbs, to up-and-coming figures such as Justin Marks and Brad Keselowski, many experienced a dramatic increase in their stake’s value. This surge resulted directly from Hamlin and Jordan’s sustained campaign for greater team rights and revenue sharing.
Kligerman further noted,
“Technically, he made every team owner a lot of money. If you own a charter right now. And the value creation in that moment, whenever you wanna consider an evaluation of these, is in the hundreds of millions, if not billions. Overnight, in one fell swoop. It needs to be basically permanent charters,”
— Parker Kligerman, analyst, crystallizing just how deeply Hamlin’s actions shaped the market for NASCAR teams.
Permanent Charters Reshape the Business of Racing
The resolution of the drawn-out legal battle culminated with terms that awarded teams a form of permanent or “evergreen” charters, alongside a share of NASCAR’s international revenue and a significant portion from intellectual property rights. This legal pivot followed US District Court Judge Kenneth Bell’s candid intervention, warning all parties involved — including 23XI Racing, Front Row Motorsports, and NASCAR — that they were
“burning down the house from the inside.”
— Kenneth Bell, US District Court Judge, urging an end to a standoff that threatened the sport’s stability.
The potential consequences of letting the dispute reach a jury were dire. If the plaintiffs had prevailed, the entire charter system could have collapsed, possibly forcing NASCAR to sell valuable tracks. With the crisis averted, the new deal guarantees teams both present stability and far greater long-term valuation, especially for those holding charters.
Lingering Tensions and Demands for Accountability
Despite his legal victory, Denny Hamlin’s personal drive has not waned. He endured heartbreak just two months prior when, after a 19-season pursuit, he failed to secure a championship for his ailing father — a setback that deeply affected him. Yet, Hamlin’s focus remained sharply on ensuring fair treatment for himself and 23XI Racing in the wake of the lawsuit’s resolution.
In the aftermath, Hamlin called on those who doubted or criticized his motives to acknowledge their misjudgments. Addressing the controversy surrounding SiriusXM NASCAR Radio’s commentary about the lawsuit, Hamlin asked,
“Good morning. Now that the case is settled and the evidence is out, will you or anyone on channel 90 be issuing an apology for what you all said about 23XI/FRM when the lawsuit was filed?”
— Denny Hamlin, 23XI Racing co-owner. He further pressed,
“I believe it was ‘how dare them for trying to come in and change the sport. 23XI hasn’t been around long enough, and FRM wasn’t good enough’. Also, how about ‘I don’t know what their problem is, 13 other teams signed it’. Just to name a few examples.”
— Denny Hamlin, 23XI Racing co-owner, highlighting past criticisms that now appear unfounded in light of the settlement.
A New Era for NASCAR and Its Stakeholders
The breakthrough orchestrated by Denny Hamlin and Michael Jordan marks a defining moment for NASCAR. With team values soaring and the introduction of more secure business arrangements, organizations led by figures like Roger Penske, Rick Hendrick, and Joe Gibbs are positioned for unprecedented growth. Even newer owners, such as Justin Marks and Brad Keselowski, stand to benefit from the stability and elevated stakes ushered in by the new charter framework.
This landmark development does not erase the lingering rivalries or the emotional toll felt by drivers like Hamlin, who remain fiercely driven by both personal and professional ambitions. As the sport moves toward 2026, all eyes are on how the Cup Series, its teams, and its passionate fan base will navigate this new reality forged through high-profile risk, negotiation, and defiance.
