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Michael Jordan Sues NASCAR Over Its Revenue-Sharing Model

Michael Jordan is moving forward with a lawsuit demanding better outcomes from NASCAR. As AFROTECH™ previously reported, Jordan became an owner of a NASCAR team, 23XI Racing, in September 2020 . According to NBC Sports, Jordan’s team — also owned by driver Denny Hamlin — operates under NASCAR’s charter system, which demands its 36 charter teams compete in all events. For their participation they are granted incentives such as payments, but this is contingent upon the team’s presence, performance in that event as well as over the course of the most recent three seasons, and the season-ending points fund. Despite the listed incentives, teams are not fairing well under the current structure, per AP News. In fact one team, Furniture Row Motorsports, was led to sell its charter for $6 million just a year after becoming the Cup Series winner in 2017 because it could not make a profit. Despite concerns, 13 organizations moved forward to sign NASCAR’s 100-page renewal contract on the...

Oct 3, 2024

Patrick Mahomes, Bubba Wallace A Part Of A List Of Athletes Investing In Cultural Leadership Fund Led By a16z

A venture capital firm has put together a dream team, and its new additions only add to its high-profile status. Kansas City Chiefs quarterback Patrick Mahomes and Nascar driver Bubba Wallace are the newest additions to join the long list of athletes a part of a fund by the firm Andreessen Horowitz.

Jun 17, 2022

Leidos Becomes Official Sponsor Of Bubba Wallace After Joining Michael Jordan's 23XI As A Primary Partner

Bubba Wallace and Leidos are back again with a new partnership! Leidos, a Fortune 500 science and technology leader, is now a primary partner for 23XI, according to a press release. The company first backed the NASCAR phenomena in 2016 during two seasons of his Xfinity Series career. Now, the dynamic duo is joining forces once more for the 2022 Cup Series Season.

Jan 4, 2022

Married Couple Behind Smile Savvy Cosmetic Dentistry Is Now A Proud Partner Of The Charlotte Hornets

Say Cheese! Smile Savvy Cosmetic Dentistry has scored a partnership with the NBA’s Charlotte Hornets. According to Yahoo!News, the Black-owned practice — founded by Drs. Drew and Joya Lyons — became “the first and only Black-owned dental partner and one of the few Black-owned companies to have a partnership deal with the NBA.” View this post on Instagram A post shared by Veneers By Dr. Drew & Dr. Joya (@drdrewlyons_drjoyalyons) “We are proud to enter this partnership with Drs. Drew and Joya Lyons and their Charlotte-based, Black-owned business, Smile Savvy Cosmetic Dentistry,” Fred Whitfield, Hornets President & Vice Chairman, said in a statement. “We look forward to bringing them into our Hornets family and teaming with them to help share healthy smiles.” Under the partnership, Smile Savvy will obtain the rights to the purple and teal Hornet logo and marks. The dental practice will also have an exclusive series titled, “Smile Savvy Smile Watch” which will present sincere photos of...

Nov 3, 2021

How Much Is Bubba Wallace, One Of The Most Successful Black NASCAR Drivers In History, Worth Today?

Bubba Wallace changed the way we look at NASCAR. Once considered a sport only enjoyed by working-class white people, the man born William Darrell Wallace Jr. proved that the sport can be just as welcoming to Black people, as well. But being a groundbreaker in the sport meant that he had to overcome some obstacles, as well. “I’ve been racing for 17, 18 years going on and it took 17 years to get a sponsor, basically,” Bubba Wallace said to Forbes Magazine. “Now we’ve had sponsors along the way, don’t get me wrong, but to be in the financial situation that we’re in, you know, life is good.” Despite the inauspicious start, the world seems to belong to him now. Sportscasting reports that Wallace continues to line up new sponsors with each season, and Yahoo reports that he’s living up to all the expectations set for him by his 23XI team owner, the legendary Michael Jordan. “Now we’ve got to deliver. [Michael Jordan] wants results,” he said. “He’s not a ride-around guy, and we all have our...

Michael Jordan And The Jordan Brand Announce Multimillion-Dollar Commitments Toward Black Excellence

Michael Jordan, together with his eponymous Jordan Brand, has announced a new set of financial initiatives for Black excellence. In a press release announcement, it was revealed that they’ve issued grants to three renowned institutions: Morehouse College, a popular Historically Black College and University; Smithsonian Institution’s National Museum of African American History and Culture; and Ida B. Wells Society for Investigative Reporting. Jordan will be donating $3 million to the Smithsonian over the course of three years. He will be donating $1 million over two years to Morehouse, and he will be donating $1 million over two years to the Ida B. Wells Society. “Education is crucial for understanding the Black experience today,” says Michael Jordan in the press release announcement. “We want to help people understand the truth of our past, and help tell the stories that will shape our future.” Legendary director Spike Lee, a 1979 graduate of Morehouse College, said that Michael...

Bubba Wallace, Michael Jordan, Denny Hamlin Team Up to Form NASCAR’s First Majority Black Team

Michael Jordan is taking his talents to NASCAR! Per ESPN, the former NBA superstar and Charlotte Hornets owner has teamed up with Denny Hamlin to form a NASCAR team with Bubba Wallace as the driver.  This makes the first time the franchise will have a  high-profile pair to make up a Black majority team owner and the only Black driver at NASCAR’s top level. Last night (Sept. 21) the partnership was announced via social media in posts by both Hamlin and Jordan. “Historically, NASCAR has struggled with diversity, and there have been few Black owners,” said Jordan in his statement. “The timing seemed perfect, as NASCAR is evolving and embracing social change more and more.” The move makes Jordan the first Black principal owner of a full-time Cup team since Hall of Famer Wendell Scott drove his own race car from 1961 to 1973. Scott’s victory in 1964 at the Jacksonville 200 is the only win by a Black driver in Cup history. According to ESPN , Hamlin, a top contender for this year’s Cup...

Sep 22, 2020