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KANSAS CITY, KANSAS - MAY 15: Denny Hamlin, driver of the #11 Sport Clips Haircuts Toyota, and co-owner of 23XI Racing, Kurt Busch, driver of the #45 Jordan Brand Toyota, and crew celebrate in victory lane after winning the NASCAR Cup Series AdventHealth 400 at Kansas Speedway on May 15, 2022 in Kansas City, Kansas. (Photo by Chris Graythen/Getty Images) | Getty Images
KANSAS CITY, KANSAS - MAY 15: Denny Hamlin, driver of the #11 Sport Clips Haircuts Toyota, and co-owner of 23XI Racing, Kurt Busch, driver of the #45 Jordan Brand Toyota, and crew celebrate in victory lane after winning the NASCAR Cup Series AdventHealth 400 at Kansas Speedway on May 15, 2022 in Kansas City, Kansas. (Photo by Chris Graythen/Getty Images) | Getty Images

23XI Racing Placing Hold on Expansion

While 23XI intends to eventually expand, the team is placing any plans to buy further charters or develop a new headquarters on hold until teams figure out whether they’ll be able to get more TV money with the next media rights deal, which will start in 2025. 23XI also wants a clearer picture on the costs of operating the new generation of race cars.

“I will go on the record saying that I had a meeting with Jim France and my message was clear that we need to stop talking about cutting,” Hamlin said. “Cutting does not equal growth. If we start working collectively then we can grow this sport together. But the business model will have to change for that to happen. We at 23XI have big plans. But those plans are on hold until we see change.”

Sports Business Journal