$3.5B-worth Michael Jordan’s NASCAR team makes a groundbreaking sponsorship deal with American Fintech company

Modified Apr 01, 2025 13:25 GMT

NASCAR: Cook Out Southern 500 - Source: Imagn — NASCAR Cup Series Team 23XI owner Michael Jordan watches a video board. Source: Imagn

Earlier today, it was announced that the NASCAR Cup Series team, 23XI Racing, which is co-owned by $3.5-billion-worth (as per Forbes) Michael Jordan and driver Denny Hamlin, will be teaming up with a new sponsor. Robinhood, a financial services platform that allows customers to be in control of their finances by democratizing access to markets, will team up with the Cup Series team as a multi-race primary sponsor for select races this season.

The financial company's branding will be seen on the uniforms and team equipment of the 23XI Racing driver Bubba Wallace and their development driver Corey Heim. The two drivers will also have their #23 and #67 cars adorned in a Robinhood-themed livery that features the company's color, Robin Neon.

Corey Heim's #67 car at the Kansas Speedway race in May will mark the debut of the Fintech-branded livery, with three more races after that set to show off the partnership between the team and Robinhood.

Bubba Wallace discussed the tendency of 23XI Racing to partner up with strong companies such as Robinhood while also relaying his enthusiasm for being a representative of the brand during race weekends.

“Our team continues to do a great job of partnering with exciting brands that share our values and believe in us. Robinhood’s dedication to market accessibility and financial literacy is important for so many people, and I look forward to representing them on track this season.”

While this is Robinhood's first venture into the world of motorsports, they have been involved with the NBA through jersey patch partnerships with the Miami Heat, Memphis Grizzlies, and Washington Wizards. The Michael Jordan and Denny Hamlin- owned team's president, Steve Lauletta, spoke about bringing the financial services company into the world of NASCAR. He said, via 23XI Racing:

“We’re excited to welcome Robinhood to 23XI and look forward to introducing another new brand to NASCAR. As Robinhood continues to expand their presence in sports, we’re proud to partner with them and look forward to bringing the intensity of NASCAR racing to their growing customer base.”

The 'AdventHealth 400,' the Kansas Speedway race that will feature Heim's car in Robinhood colours, will take place on Sunday, May 11, 2025, at 3:00 P.M. ET.

NASCAR's 23XI Racing shares photo of Bubba Wallace's driver's license as part of new partnership announcement

The Instagram accounts of 23XI Racing and Robinhood shared an image of Bubba Wallace's 'driver's license' to announce the two organizations joining forces. The post, shared earlier today, featured the license in the fintech's customary green color with a caption that talked about the company's intentions within NASCAR.

"🏁 Excited to announce that we’re joining forces with @23xiracing as their Official Investing Partner. With @BubbaWallace behind the wheel, we’re moving with purpose."

Bubba Wallace and his #23 car saw a strong finish this past weekend at the Martinsville Speedway, where the 31-year-old driver finished in third place at the Cook Out 400.

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Siddharth Koyal is an F1 and NASCAR journalist at Sportskeeda with a background in Cinema & Media Studies. His academic journey, centered on crafting analytical essays and in-depth critiques, honed his writing skills and solidified his love for storytelling. Combining his expertise in writing with a lifelong passion for Formula 1, Siddharth brings insightful and engaging content to readers, blending analytical precision with a fan’s enthusiasm.

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Edited by Hitesh Nigam