During the summer of 2020, rumors circulated that Jordan intended to purchase an ownership stake in Richard Petty Motorsports, which fielded Bubba Wallace, at the time the only Black driver in the Cup Series. Jordan's management repeatedly denied these claims.
On September 21, 2020, Jordan and Hamlin announced formation of a new Cup team, with Jordan as majority owner, Hamlin as minority owner, and Wallace as the first driver — eleven days after Wallace had announced his departure from Richard Petty Motorsports. The team purchased a charter from Germain Racing to secure a guaranteed starting position in every 2021 race, and would operate out of Germain's former shop. On October 22, the name "23XI Racing" and the No. 23 were announced. On October 30, the team revealed a Toyota affiliation with technical support from Joe Gibbs Racing.
On September 8, 2021, veteran motorsports executive Steve Lauletta was named team president, having served as interim president since the team's founding.
Initial sponsors for the No. 23 in 2021 included DoorDash, McDonald's, Columbia Sportswear, Dr Pepper, and Root, Inc. Former Germain driver Ty Dillon ran the car in the 2021 Busch Clash, as Wallace was not eligible.
Wallace finished seventeenth at the 2021 Daytona 500 after a last-lap crash. He recorded his first career stage win at the GEICO 500 at Talladega. His first career Cup win came at the rain-shortened YellaWood 500 at Talladega Superspeedway, making him only the second Black driver to win a Cup race after Wendell Scott. Wallace finished the season 21st in points.
In 2022, Wallace finished second at the Daytona 500. Crew chief Bootie Barker was suspended four races following a tire and wheel loss during the Texas Grand Prix at COTA. Dave Rogers served as interim crew chief. Wallace posted four consecutive top-10s at New Hampshire, Pocono, Indianapolis road course, and Michigan.
During the 2022 playoffs, Ty Gibbs substituted in the No. 23 to allow Wallace to compete in the owners championship via the No. 45. Gibbs was fined $75,000 and the No. 23 was docked 25 owner points for an incident in which Gibbs veered into Ty Dillon on pit road at Texas. Daniel Hemric substituted at Phoenix after the death of Coy Gibbs, finishing seventeenth.
In 2023, Wallace finished twentieth at the Daytona 500 and made the Cup playoffs for the first time in his career, but was eliminated in the Round of 12 at the Charlotte Roval.
In 2024, Wallace was fined $50,000 for intentionally door-slamming Alex Bowman during the cool-down lap at the Chicago street race. Following the Martinsville playoff race, Wallace and the No. 23 team were each fined $100,000 and docked 50 owner and driver points for race manipulation after Wallace faked a tire failure to allow fellow Toyota driver Christopher Bell to pass him to secure a spot in the Championship 4. Barker was also suspended for the Phoenix finale.
In 2025, Wallace started the Daytona 500 with a 29th-place DNF and later won at Indianapolis, ending a 100-race winless streak and qualifying for the playoffs.
On November 20, 2024, 23XI announced that Riley Herbst would drive the No. 35 beginning in 2025. The number 35 was chosen as an homage to Jordan's minor league baseball career. Shortly after the Charlotte Roval race during the 2025 season, the No. 35 was disqualified for failing post-race height inspection.
On August 27, 2021, 23XI announced that Kurt Busch would drive the No. 45 Toyota Camry in 2022, with the number referencing a jersey number Jordan wore during his baseball career and for 23 games in the 1994–95 NBA season. Sponsor Monster Energy moved with Busch. 23XI purchased a charter from StarCom Racing for $13.5 million to field the No. 45 — the most expensive charter purchase since the charter system was implemented in 2016.
Busch opened 2022 with a nineteenth at the Daytona 500, then posted top-five finishes at Phoenix and Atlanta before winning at Kansas. At Pocono, Busch was not medically cleared after a qualifying crash and missed the last five races of the regular season. Xfinity Series driver Ty Gibbs substituted for six races. Busch withdrew his playoff waiver request on August 25.
Wallace then swapped into the No. 45 for the playoffs. He finished ninth at Darlington and won at Kansas for his second career Cup win. At Las Vegas, after Kyle Larson wrecked Wallace, Wallace used a right rear hook on Larson, wrecking both cars and damaging Christopher Bell's car. Wallace was suspended one race; John Hunter Nemechek drove the No. 45 at Homestead.
On October 16, 2022, Busch announced he would step away from full-time competition in 2023.
On October 15, 2022, 23XI bought out the remainder of Tyler Reddick's contract from Richard Childress Racing to move him into the No. 45 for 2023, accelerating his original 2024 signing timeline because of Busch's departure.
Reddick opened 2023 with a 39th-place DNF at the Daytona 500 but won at COTA in triple overtime a month later. The No. 45 team was docked 10 owner and driver points for unapproved ballasts at Darlington. Reddick won again at Kansas during the playoffs to advance to the Round of 12.
In 2024, Reddick won at Talladega — overtaking Brad Keselowski on the final stretch after Keselowski spun Michael McDowell to trigger a multi-car crash — and at Michigan. He clinched the regular season championship after the Southern 500 by beating Kyle Larson by one point. During the playoffs, Reddick locked himself into the Championship 4 by winning at Homestead.
In 2025, Reddick finished runner-up at the Daytona 500 and made the playoffs, but was eliminated after the Round of 12, finishing ninth in points.
In 2026, Reddick won the Daytona 500, followed by wins at Atlanta and COTA — becoming the first driver in Cup Series history to win the first three races of a season. He subsequently won at Darlington and Kansas, becoming the first driver since Dale Earnhardt in 1987 to win five of the first nine races in a season.
The No. 67 has served as a part-time entry since 2023. Travis Pastrana attempted the 2023 Daytona 500 in the No. 67, qualifying by scoring the second-fastest lap among non-chartered teams. He was involved in a qualifying duel accident but finished eleventh in the race. In June 2023, Kamui Kobayashi made his Cup debut in the No. 67 at the Indianapolis Motor Speedway Road Course, finishing 33rd after being caught up in multiple wrecks.
In 2024, the team ran the No. 50 for three races to mark the 50th anniversary of sponsor Mobil 1. Kobayashi drove the No. 50 at COTA. Corey Heim drove it at Nashville Superspeedway, finishing 29th. Juan Pablo Montoya made his NASCAR Cup return in the No. 50 at Watkins Glen in September, finishing 32nd.
In February 2025, 23XI announced that Corey Heim signed a developmental deal covering Cup starts in the No. 67 and Xfinity starts in the Sam Hunt Racing No. 24.
On October 2, 2024, 23XI Racing and Front Row Motorsports filed an antitrust lawsuit against NASCAR over the terms of the updated charter agreement and alleged anti-competitive practices by the France family. On December 18, 2024, both teams were granted a preliminary injunction allowing them to race as chartered entries in 2025. The injunction also enabled the transfer of two Stewart-Haas Racing charters to the teams. On June 5, 2025, the U.S. Court of Appeals overturned the preliminary injunction. On August 25, 2025, NASCAR filed notice of agreement to issue one charter to a redacted entity. The case was settled on December 11, 2025, after eight days in court.
This article is based solely on the supplied corpus. No external sources were consulted; claims that could not be substantiated against the corpus were omitted under the drop-the-claim rule.
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