"There were just no guarantees" - Here's why Kyle Busch and Denny Hamlin failed to make a deal for 23XI Racing

NASCAR Cup Series Bass Pro Shops Night Race
Kyle Busch (right), driver of the #18 Skittles Toyota, and Denny Hamlin (left), driver of the #11 FedEx Freight Toyota, talk on the grid prior to the NASCAR Cup Series Bass Pro Shops Night Race at Bristol Motor Speedway on September 19, 2020, in Bristol, Tennessee. (Photo by Jared C. Tilton/Getty Images)

On Tuesday, Kyle Busch ended months of uncertainty regarding his future NASCAR career when he announced that he had signed a new contract with Richard Childress Racing. The new deal will see him drive the #8 Chevrolet from the 2023 NASCAR season.

Before his announcement, 23XI Racing had emerged as one of the front runners to sign the two-time Cup Series champion. Incidentally, 23XI is co-owned by Joe Gibbs Racing driver and Busch’s current teammate Denny Hamlin.

During a recent broadcast of SiriusXM NASCAR Radio, Hamlin appeared as a guest where he talked about his teammate’s new contract and also revealed why Busch rejected the 23XI Racing deal.

Denny Hamlin said that with Tyler Reddick and Bubba Wallace Jr. signed to the team to race in 2024, he could only offer Kyle Busch a short-term contract. The latter, however, wanted long-term stability in the organization. As a result, Busch chose Richard Childress’s multi-year contract.

Hamlin later said that his team was not able to give the long-term security that Busch was hoping for and that was the main reason why the latter couldn’t land at 23XI Racing. He said:

“We knew that in 2024, we have Tyler Reddick and Bubba Wallace part of our team. Now, did we inquire about short-term still with Kyle next year? Yes, possibly. But I think that Kyle wanted more of a long-term stability. That doesn't mean that it guarantees him that he could be at 23XI long-term. But I just think that we weren't able to give those long-term securities that he was looking for, which I totally understand.”

Economy was also another reason that holds Kyle Busch back from making a deal for 23XI Racing

Further into the conversation, Denny Hamlin said that he would love to add three or four charters to the race, but the uncertain economic future is holding back 23XI Racing from acquiring more cars.

Hamlin said:

“I would love to be three, four car teams in the future, but the economic model has to support it and there were just no guarantees because I can’t look in the crystal ball and know that I'll be able to afford it years from now. So, I just don't know that I could give the long-term stability that Kyle is looking for.”

Catch Denny Hamlin and Kyle Busch at Bristol Motor Speedway on Saturday, September 17, 2022.

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