Entrepreneur With $7 Million Net Worth “Hopeful” of Walking in NASCAR Path Paved by $1.7 Billion Worth Michael Jordan

The only black owner in Cup history, Michael Jordan, made a revolutionary move with his decision to invest in NASCAR. And now, another entrepreneur might become a trailblazer in the NASCAR investor category.

According to Sports Business Journal’s Adam Stern, an army veteran, and entrepreneur, Phyllis Newhouse is keen on becoming a NASCAR team owner following the path paved by Jordan. Reportedly, Newhouse has been in talks with multiple teams, track owners, and the governing body for months. If things come to fruition, a $7 million net worth Newhouse would be among the first black women investors in the history of NASCAR.

It is important to note that this is not the first time that a black woman has been involved in a NASCAR team as an investor. Prior to this, Jennifer Satterfield-Siegel held the position of vice chairperson at Rev Racing. And hence, Newhouse’s ownership will set another example as a step in the right direction for women entrepreneurs. Especially for women of color.

However, apparently, the Athena Technology co-founder has not yet landed the right deal. In an email to SBJ, Newhouse wrote, “I’m very hopeful the right opportunity will come at the right time. I’m looking for the right opportunity that creates impact and profitably.”

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She added, “As an entrepreneur and investor, you’re always looking for ways to use your expertise in business, leverage your network and create impact and change needed within any industry.”

Clearly, Newhouse is interested in owning a NASCAR team. But being a serial entrepreneur, it is the economics of the opportunity that will lead to a firmer decision.

Phyllis Newhouse on the economics of NASCAR

The current market economics of NASCAR charters is a huge deciding factor for any investor. With charters valuing around $30 million, it becomes imperative for any investor to conduct a thorough cost-benefit analysis. The jump from the past year’s charter prices is huge. Hence, it is possible that Phyllis Newhouse is still not sure if the investment is worth it.

In her conversation with SBJ, Newhouse mentioned, “I see this as an incredible business opportunity. As an entrepreneur and investor, you’re always looking for ways to use your expertise in business, leverage your network and create impact and change needed within any industry.”

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However, with the recent economy of the sport, Newhouse has not yet successfully landed the opportunity she has been looking for. But if she does, she will join the likes of Michael Jordan, Floyd Mayweather, and Pitbull as a high-profile diverse investor in NASCAR.