Billionaire Michael Jordan’s Huge $150M Investment Was Unknowingly Influenced by NASCAR’s Most Successful Driver: Here’s How

NBA legend Michael Jordan has always been a huge NASCAR fan. NASCAR veteran Denny Hamlin was the first racer to be endorsed by the Air Jordan brand. So the two had a good relationship and even play golf together. When an opportunity to own a NASCAR team came from Hamlin, Jordan grabbed it with both hands. MJ became the owner of 23XI Racing with Hamlin as a minority partner in 2020. However, there is more to the story of how the Chicago Bulls legend became the owner of a race team.

Initially, Hamlin was looking to purchase a minority stake and had his eyes set on a couple of NASCAR teams. Jordan had no involvement whatsoever at the time. However, because of Hamlin’s friendship with the billionaire, there were speculations MJ was looking to buy a NASCAR team with Hamlin.

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So Hamlin forwarded the article that speculated MJ’s involvement to him. Interestingly, Jordan replied that it was obviously fake news but asked Hamlin whether he wants to “make it real.” The racing veteran was shaken, however, pitched his idea to the six-time NBA champion during a meeting. And 23XI Racing was born. Interestingly, there is more.

Michael Jordan would not have been a NASCAR team owner

Recently, Denny Hamlin made an appearance on the Pretty Intense podcast with host Danica Patrick. During the show, he talked about a variety of topics. The host then asked about his initial plans for owning a NASCAR team and how the whole process unfolded. Hamlin talked about the story of how Michael Jordan was involved after the speculation. Interestingly, he also disclosed how NASCAR legend Richard Petty indirectly played a part in the whole process. He talked about it while explaining his reason for wanting to be an owner.

“I just thought that I wanted to have my say. Honestly, I got down to Richard Petty Motorsports, and that was a team I was looking to buy a minority stake in. But ultimately, I found that I wasn’t gonna get the control that I needed. The autonomy to really run it the way that I thought it needed to be run. So I’m like this isn’t the right fit for me either,” Hamlin said.

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Had Hamlin been allowed more control with Richard Petty Motorsports, he would have bought a minority stake. Furthermore, he would not have reached out to Michael Jordan and there would be no 23XI Racing. As per reports, 23XI Racing is worth an estimated $150 million.

Richard Petty is a minority owner of the Richard Petty Motorsports team. He is one of the most successful NASCAR racers ever winning the Cup Series championship seven times. He has also won a record 200 races during his career.