Matt Johnson
After 23XI Racing effectively won its lawsuit against NASCAR, securing permanent charters and landing a huge financial settlement, the team’s focus shifted to re-signing Tyler Reddick. With contract talks stretching into the season, the new asking price could be staggering.
Adam Stern of the Sports Business Journal reported this week that industry execs have speculated that the demand for Reddick in NASCAR silly season could push his contract demands to $7 million per season.
Related: NASCAR Power Rankings after Bristol, See Where Tyler Reddick Lands
It’s not hard to see why there could be an intense bidding war for Reddick. Not only does 23XI Racing want him back in the No. 45 car long-term, but there’s also the possibility of the No. 48 car becoming available at Hendrick Motorsports.
Bowman’s contract year has been derailed by vertigo that kept him out of four races, effectively preventing him from having any realistic shot of making The Chase. He was already viewed as being on the hot seat entering the season, with Hendrick wanting to find a driver who would give them another Cup Series championship contender.
Related: Denny Hamlin Addresses Tyler Reddick’s Future with 23XI
With two of the most cash-flush teams pursuing him, Reddick could use 23XI and Hendrick against one another to generate bigger offers. He’s also poised to hit the open market at the perfect time in his Cup Series career.
It certainly would have been cheaper for 23XI to sign Reddick to an extension before the season. He was coming off a winless season, seemingly a step back after winning the team’s first regular-season Cup title ever. Fast forward to now, he’s made more team history.
Reddick became the first 23XI driver to win the Daytona 500 and the first to win three consecutive Cup Series races. Even before April hit, he broke the team’s single-season wins record with four trips to victory lane.
Realistically, 23XI will sign Reddick to a new contract before the summer ends, and it could follow that up with an announcement later this year that top prospect Corey Heim will replace Riley Herbst in the No. 35 car next season. In all likelihood, 23XI will have a three-driver team of Reddick, Heim and Bubba Wallace for the foreseeable future.
