Did $3.5 B-worth Michael Jordan’s influence attract sponsors to 23XI? Denny Hamlin responds

During a recent interview at Darlington Raceway, NASCAR Cup Series driver Denny Hamlin opened up on how Michael Jordan’s stardom brings sponsors to 23XI Racing, which he owns alongside the former NBA legend. The team was founded back in 2020, with Bubba Wallace serving as its first driver in the No. 23 Toyota Camry.

Michael Jordan, also known by his initials M.J., is a six-time NBA champion with the Chicago Bulls. He played 15 seasons in the NBA, bagging 14 All-Star victories and six NBA Finals MVP titles. As of today, he flaunts a net worth of a staggering $3.5 billion (as per Forbes).

So when someone like Michael Jordan gets involved in another major league sport, sponsors from the NBA are bound to follow. The same happened with Robinhood, who is currently under jersey patch contracts with the Memphis Grizzlies, Miami Heat, and Washington Wizards for the 2024-25 NBA season.

Detailing how Jordan’s fame attracts sponsors to 23XI Racing, Denny Hamlin said (via Speedway Digest),

“I think that certainly Michael’s brand and things like that attracts a lot of different companies to be associated with. This one (RobinHood) is not directly you know brought through Michael or his group. That was more of an agency thing, so all came together really nicely.”

“They got a big deal with Memphis on the NBA side. RobinHood does, so they’re just kind of now exploring the NASCAR space,” he added.

RobinHood will back Bubba Wallace and 23XI development driver Corey Heim in select races throughout the 2025 season. Per reports, Heim’s No. 67 will debut with RobinHood’s special neon livery at Kansas Speedway on May 11.

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23XI Racing driver Bubba Wallace details working relations with boss Michael Jordan

Over the past few years, Michael Jordan has been involved with the ownership and operations of the Charlotte Hornets in the NBA and 23XI Racing in NASCAR. He is also invested in several business ventures and endorsements with brands like Nike, Hanes, and Gatorade.

Bubba Wallace also spoke about Jordan's visits to Airspeed, 23XI Racing’s newest shop. He said (via The Economic Times),

“We talk multiple times throughout the week, and definitely, there's a text before and definitely after a race. He's watching. Good or bad, win, lose, or draw, he's always watching."

“I think everybody at Airspeed knows that MJ is invested mentally,” he added.

Bubba Wallace is in his eighth full season as a Cup Series driver. He is now ahead of his eighth race of the season, which is scheduled for Sunday, April 6, at Darlington Raceway. Fans can watch it live on Fox Sports 1 from 3 pm ET onwards or listen to radio updates on MRN and SiriusXM NASCAR Radio.