“Heard you got the new warehouse”: $3.5B worth Michael Jordan spotted exchanging words with HMS’ billionaire owner at Charlotte

Following Tyler Reddick's P11 finish at Charlotte on Sunday, reporter Noah Lewis spotted 23XI Racing co-owner and NBA legend Michael Jordan chatting with Rick Hendrick of Hendrick Motorsports on pit road. Hendrick, an automotive tycoon and billionaire, is expected to open a new facility on its Cabarrus County campus.

Last year, the Concord City Council approved a tax incentive that will allow Hendrick Motorsports to build the new $23.7 million warehouse next to Rick Hendrick's Kia and Volkswagen dealerships in Concord, North Carolina.

Patting Rick Hendrick on the back, the $3.5 billion worth (according to Forbes), NBA Hall of Famer said,

"Heard you got that new warehouse coming up."

The 30-acre property is expected to generate an annual net revenue of $17,064. In a March 2023 report, WCNC stated:

"If city council approves the tax incentive, the city of Concord would still collect a one-year net revenue of $17,064. The total value of the one-year grant is estimated to equal $96,696, depending on the actual investment."

Besides owning the winningest team in NASCAR, Rick Hendrick is the chairman and CEO of Hendrick Automotive Group, a billion-dollar privately held car dealership with its headquarters in Charlotte. In 2022, Hendrick Automotive Group, commonly referred to as HAG, earned over $12 billion in revenue.

Thanks to Kyle Larson, Hendrick Motorsports visited the victory lane at Charlotte Motor Speedway for the 11th time this season of the NASCAR Cup Series. The day, however, was bittersweet for Hendrick. Larson's teammate Alex Bowman's car failed post-race inspection, thus giving away the last playoff spot to Team Penske's Joey Logano.

"Hopefully that comes to fruition"- Hendrick Motorsports icon breaks silence on Michael Jordan's battle against NASCAR

Michael Jordan's team was one of the two North Carolina-based outfits that did not sign NASCAR's new charter deal. 23XI Racing and Front Row Motorsports filed a federal antitrust lawsuit against NASCAR, saying that the terms in the new charter agreement were unfair.

Hendrick Motorsports was among the 11 teams that signed the agreement. However, Hendrick Motorsports driver William Byron felt that the lawsuit could lead the sport in a new direction. In an interview from last week, the #24 driver said:

"I won’t really go into details but overall the perspective of the sport and what they’re fighting for and what that means, I think in the long term I’d like to see our sport become more prosperous. I feel like in watching other professional sports and where we could be, I’m excited for that so hopefully that comes to fruition."

NASCAR has recently denied a legal injunction requested by 23XI Racing and Front Row Motorsports. The sport feels that the case is more of a breach of contract than antitrust. The court accepted NASCAR's plea to postpone next week's hearing to November 4th.