Bubba Wallace has signed a multiyear contract extension with 23XI Racing, the team announced on Friday.
While the exact length of Wallace’s extension was not stated, the new contract allows him to continue driving the No. 23 Camry in 2023 and for the foreseeable future in NASCAR’s Cup Series.
“Bubba was a key part of the early stages of 23XI, and I am thrilled that he will continue with the team,” 23XI Racing co-owner Denny Hamlin said in a statement. “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. … We’re excited to see his growth as he and the team work toward achieving our goals.”
The team was founded in September 2020 and began Cup Series competition in ’21. Wallace helped the team earn its first NASCAR Cup Series win last year in the Geico 500 at Talladega Superspeedway.
Wallace’s extension does not come as a surprise, as Hamlin shared at the Brickyard 400 in Indianapolis last month that the team had “something on the table” while also sharing the organization’s desire to keep him on a long-term deal.
Wallace said he’s pleased to get the deal done and remain with 23XI under co-owners Hamlin and NBA legend Michael Jordan.
“Thanks to M.J. and Denny for continuing to believe in me,” Wallace said in a statement. “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 sits at No. 19 in the current Cup Series standings. He earned his first career pole last week at Michigan International Speedway’s FireKeepers Casino 400. He finished as the runner-up to Kevin Harvick at Michigan.
As the playoff chase takes shape, Wallace has three more regular-season races that, including Sunday’s Federated Auto Parts 400 at Richmond Raceway, to climb into the top 16 and earn a postseason bid.