Denny Hamlin Discloses $14 โMillion Annual salary During NASCAR Antitrust Trial
CONCORD,NC – Denny Hamlin,driver of the No. 11 Joe โGibbs Racing Toyotaโฃ and co-owner of 23XI Racing, revealed he earns approximately $14โฃ million per year as a driver during testimonyโข in the ongoing antitrust lawsuit brought against NASCAR byโฃ 23XIโข Racing and Front Row Motorsports. The disclosure came Tuesday as Hamlin detailed his financialโ involvement with both teams during several โhours on the stand.
The revelation of Hamlin’s salary and investmentโฃ details emerged during the trial, which centers onโ allegations โof anti-competitive practices by NASCAR. The lawsuit, opened Monday, aims to challenge the financial structure of the sportโฃ and its impact on team profitability. โฃHamlin’s unique positionโ as both a driver โขfor a top-tier team and aโค teamโ owner adds significant weight to the proceedings, offering a rare inside look โat the financial realities of NASCAR.
Hamlin, โa 21-year veteran with 721 NASCAR โขCup Series starts โand 60 raceโ wins – including โคsix in โthe 2024 season – testified he holds a 40% stake in 23XI Racing. he has personally invested $45 million intoโข theโข team, comprisedโ of $10 million in cash and $35 million in loans.
Court testimony also revealed thatโ 23XI Racing generatedโค $3 million inโ revenue in 2023. Thisโข contrasts sharply with the financial struggles ofโ Front Row Motorsports, whose owner previously stated he has lost $100 million since entering the sport. The financial strain is underscoredโฃ by โขthe $35 million cost โof 23XI Racing’s new ‘Airspeed’ race shop near Charlotte, North Carolina, which opened in 2024.
The antitrustโ trial continues Wednesday with โฃfurther testimony expected from NASCAR executive โvice president Scott Prime.
