Michael Jordan, Denny Hamlin reveal name for new NASCAR team

The team (pronounced twenty-three eleven) will field the No. 23 Toyota Camry with driver Bubba Wallace in 2021. 

The NBA legend and three-time Daytona 500 winner combined their iconic numbers to create the team name, and social media channels for 23XI Racing were created Thursday.

"Michael and I have a shared vision for this team, so it’s exciting to see it reflected in the team name and on the race car with the iconic number 23 that Michael made famous," said Hamlin in a statement.

Hamlin will continue as a driver at Joe Gibbs Racing while taking on this new role as minority owner at 23XI Racing. The move is not unprecedented with the late Dale Earnhardt being among the most notable cases, driving for Richard Childress Racing while operating Dale Earnhardt Inc.

The race team's official Twitter, which has already amassed over 10,000 followers, posted the following video:

Wallace is the only African-American driver at the Cup level and has spent the entirety of his NCS career with Richard Petty Motorsports, placing as high as second in the 2018 Daytona 500. Erik Jones will replace him at RPM next year.

The 27-year-old has also been a leading voice in the sport on racial injustice in the United States. NASCAR has since taken concrete steps in their efforts to diversify its fan base, banning the Confederate flag and embracing the Black Lives Matter movement.

2021 will be Wallace's fourth full-time season as a Cup driver.