23XI Racing announced the news prior to the race weekend at Richmond Raceway. The team confirmed that this deal is for multiple years, ensuring that Wallace will be in the No. 23 at least through 2024. The team cited his improvements on the track, as well as his work in the community as key reasons for the new deal.
“Bubba was a key part of the early stages of 23XI, and I am thrilled that he will continue with the team,” said team co-owner Denny Hamlin. “When we announced Bubba as our first driver the goal was to help him take his career to a higher level, and we have done just that.
“Bubba and the No. 23 team earned the organization our first win and first pole award, and with a career-best four consecutive top-10 finishes heading into Richmond this weekend, Bubba is continuing to get more competitive each week. We’re excited to see his growth as he and the team work toward achieving our goals.”
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Wallace Is on a Recent Streak of Strong Performances
The release announcing Wallace’s new deal takes place after a run of four straight top-10 finishes and three top-fives. He is in the midst of a career year, statistically speaking, and he has put himself in contention for multiple wins.
Wallace’s six top-10 finishes are a career-high for a single season, topping the 2020 season when he had five. His four top-five finishes top his career-best of three that he set in 2021. Wallace’s average finish of 18.6 is the best of his full-time career, and he won the first Busch Light Pole of his career during the trip to Michigan.
“It feels great to get this renewal done and to know I have a home at 23XI Racing,” Wallace said in a press release. “Thanks to M.J. [Michael Jordan] and Denny for continuing to believe in me.
“We’ve come a long way together in less than two years and we’ve checked off some major goals along the way — including the team’s first win and first pole. We know we still have work to do, both on and off the race track, but I feel good about our team and the direction we’re heading.”
Wallace Will Work With a New Teammate in 2024
23XI Racing owners Denny Hamlin and Michael Jordan, as well as team president Steve Lauletta, have wasted no time laying the foundation for the future. They locked up Wallace for multiple years and they signed a new driver to join the fold in 2024.
Richard Childress Racing’s Tyler Reddick will move over to 23XI Racing after one more season in the No. 8. He will join the organization and become teammates with Wallace and Kurt Busch.
There are no details available yet about whether Reddick will take over the No. 45 for Busch or drive a third entry. The 2004 Cup Series champion is the one who will drive this decision by deciding if he wants to continue racing or move into a new role. For now, the team can rest assured that the top drivers are in place for the future.