$100 Million Worth Latino Reveals What Made Him Buy NASCAR Team to Rival Michael Jordan & Rick Hendrick

Over the last few years, the global attraction and fanbase of NASCAR have grown exponentially. By extension, this has drawn the interest of investors such as Michael Jordan and Rick Hendrick.

There are a number of celebrity investors in NASCAR at this time. In 2020, Michael Jordan co-founded the 23XI team with Denny Hamlin. Similarly, global pop music star Armando Christian Perez, known by the stage name Pitbull, also purchased a stake in Trackhouse Racing the same year.

Jay Leno asked Pitbull about his acquisition. He said, “NASCAR came as an opportunity the same way I look at music. It is a universal language that unites and doesn’t divide. Everybody likes a fast car, everybody likes an underdog. Everybody likes to see competition. To me, NASCAR embodies that.”

“It definitely does [bring a whole new fanbase due to his Latin heritage]. That’s what it is, it’s about uniting people, creating awareness.”

Speaking to CNBC Power Lunch, he said “It’s [NASCAR] a great platform to be involved with… also the driver, Daniel Suarez, I relate to his story coming from nothing to something and being the only Mexican to win a race. The most important part of this is it allows us to utilize the NASCAR platform and the team Trackhouse to bring everybody together. That’s what we need most in these times.”

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The acquisitions by these superstars signify the commercial opportunities that are possible in NASCAR. As it continues to grow into a global sport, its acquisitions will turn a profit for them; at the same time, it will make NASCAR more competitive which is great for viewers and teams alike.

Investments in NASCAR have begun paying off for Michael Jordan

Michael Jordan, debatably the GOAT of the NBA, entered the fray in 2020. He founded a team, 23XI Racing, with Denny Hamlin who drives in NASCAR for Joe Gibbs Racing.

The team onboarded Bubba Wallace, the only driver of African-American origin in  NASCAR on car #23. Meanwhile, they employed Kurt Busch and Ty Gibbs for their car #45.

Recently the team also announced that they will have Tyler Reddick racing for them from 2024 onward,

The young team won their second race this season when Busch won at the AdventHealth 400 race, in Kansas. Their first win had come through Wallace’s win at Talladega in 2021.

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Slowly and steadily, 23XI are making upward movements on the circuits. Their recruitment has been astute and they will be hoping to challenge other teams on a more regular basis soon.