The Stewart-Haas Racing driver signed a multiyear agreement that will begin in 2023.
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23XI Racing announced the veteran driver would miss the start of the postseason and withdrew the medical waiver requested for his eligibility.
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This is the first time the racing body has partnered with a collegiate athletic program.
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The 42-year-old’s first stint in the Cup Series came to an early end after a crash on lap 44.
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The Iceman spent 19 years competing in Formula One, amassing 21 Grand Prix victories and 103 podiums.
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