It is owned and operated by Hall of Fame basketball player Michael Jordan, along with current Joe Gibbs Racing driver and three-time Daytona 500 winner Denny Hamlin.

[3] The organization fields the Numbers 23, 35, and 45 Toyota teams full-time for drivers Bubba Wallace, Riley Herbst, and Tyler Reddick.

[4] During the summer of 2020, rumors swirled that Michael Jordan intended on purchasing an ownership stake in Richard Petty Motorsports, who fielded the only black driver in the NASCAR Cup Series, Bubba Wallace.

[1] On July 12, 2022, 23XI Racing announced that two-time NASCAR Xfinity Series champion Tyler Reddick signed with the team for the 2024 season.

[7] On July 23, 2022, Hamlin announced that starting in 2023, 23XI would have its own pit crews instead of leasing them from Joe Gibbs Racing.

[8] In May, 2024, 23XI opened its doors to their brand-new race shop and team headquarters, named "Airspeed", in Huntersville, North Carolina.

[9] On October 2, 2024, it was announced that 23XI Racing, along with Front Row Motorsports, filed an antitrust lawsuit against NASCAR over the terms of the updated charter agreement, as well as anti-competitive practices committed by the France family.

[10][11] On December 18, both teams were granted a motion of preliminary injunction, allowing them to race as chartered entries in 2025 while continuing their legal battle with NASCAR.

[12] On September 21, 2020, Jordan and Denny Hamlin announced the formation of a Cup team to begin competition in 2021 with Jordan as majority owner, Hamlin as minority owner, and Wallace, who eleven days prior had announced his departure from Richard Petty Motorsports, as their first official driver.

[18][19] On October 30, the team revealed that they will run Toyotas with a technical alliance with Joe Gibbs Racing (whose No.

[4] On December 14, 23XI Racing announced that DoorDash, McDonald's, Columbia Sportswear, Dr Pepper, and Root, Inc. will be the sponsors of the No.

[23] On September 16, Bootie Barker was named crew chief for the remainder of the season after Wheeler was promoted to Director of Competition.

[26] On March 29, 2022, Barker was suspended for four races due to a tire and wheel loss during the 2022 Texas Grand Prix at COTA.

Dave Rogers was announced as Wallace's crew chief for Richmond, Martinsville, Bristol, and Talladega.

[27] Later in the regular season, Wallace showed strong form, posting four consecutive top-10s at New Hampshire, Pocono, Indianapolis road course, and Michigan.

[33] During the 2024 season, Wallace was fined US$50,000 for intentionally door-slamming Alex Bowman during the cool-down lap after the Chicago street race.

23 was docked 50 owner and driver points and Wallace and the team were each fined US$100,000 for race manipulation, when Wallace faked a tire failure and slowed down to allow fellow Toyota driver Christopher Bell to pass him in an attempt to make the Championship 4.

[52] On October 16, Busch announced he would step away from full-time competition in 2023, with the possibility of running the season on a part-time basis.

Reddick originally signed with 23XI for 2024, but Busch's concussion and subsequent retirement from full-time competition led to this move.

45 team 10 owner and driver points for unapproved ballasts during inspection prior to qualifying at Darlington.

[61] Following the Southern 500, Reddick clinched the regular season championship, beating Kyle Larson by just one point.

[64] On February 14, Pastrana made the entry field by scoring the second fastest lap among the non-chartered teams.

67 at the Indianapolis Motor Speedway Road Course, he would end up finishing 33rd in the race after getting caught up in several wrecks.

On August 2, 2024, the team announced that Juan Pablo Montoya would make his NASCAR Cup Series return for 23XI at Watkins Glen on September 15.