23XI Racing announced Wednesday that it has signed Bubba Wallace to a multi-year contract extension.
His contract was to have expired after this season.
The 30-year-old Wallace is in his fourth season with 23XI Racing, which is co-owned by Michael Jordan and Denny Hamlin.
Wallace has scored both of his Cup wins with 23XI Racing. He made the playoffs last season, finishing a career-high 10th in the points.
Wallace heads into Saturday night’s Cup race at Bristol (7:30 p.m. ET on USA Network) 19th in the points.