Michael Jordan’s Involvement in NASCAR Increases Further After Hornets Sale, Denny Hamlin Claims, “This Could Get Interesting”

It has been a while since Michael Jordan announced his intention to sell the Charlotte Hornets team in the NBA. Since then Jordan has reportedly increased his direct involvement in the operations of his NASCAR Cup Series racing team – 23XI Racing, which he co-owns with Denny Hamlin.

The team was founded back in 2020 as a one-car team but in the subsequent season; they fielded two cars, one of them being the #23 car driven by Bubba Wallace and the #45 car which originally had Kurt Busch behind the wheel. Later on, the #45 car was driven by former RCR driver Tyler Reddick.

However, all this while Jordan had been occupied with his other ventures and had not been as involved as Hamlin in the operations and management of the team. Recently, while speaking with the media, Denny Hamlin explained how Jordon’s involvement increased following the sale of the Horners.

Michael Jordan has been focusing more on his NASCAR team as per Denny Hamlin

While speaking with the press, Hamlin mentioned, “Certainly, he’s involved in more meetings. Now he wants to be on every branding e-mail… I’m like, oh boy, this could be interesting. I think he has had some more time. Perhaps he is going to use more on the race team.”

Denny Hamlin said his co-owner Michael Jordan is involved more in 23XI Racing now that Jordan has sold his majority stake in the Charlotte Hornets.

Hamlin: “Now he wants to be on every branding e-mail.” Btw, Hamlin said he will keep his season tickets. pic.twitter.com/8GuSi67yVE

— Bob Pockrass (@bobpockrass) August 5, 2023

This development will now be the ideal scenario for the 23XI Racing team to develop and grow further. With both of its founders now dedicated to focusing on the matters at hand, the team should notice several improvements over the coming years.

Furthermore, this would also take some of the stress off Hamlin, who otherwise would jump between his own racing career at JGR and managing the team at 23XI Racing.

Why did Jordan sell the Hornets?

There may have been several reasons for Jordan’s intention to sell the Hornets team. But perhaps the most obvious reason would be the return on investment he would be receiving in the process. At the end of the day, Jordan is a businessman and a good businessman always finds a way to make a profit.

Looking back at 2006, Jordan purchased a minority stake in the team. But just four years later in 2010, he picked up an even larger chunk of the team’s ownership for a whopping $275 million. Interestingly, over the duration of his ownership, the team did not fare too well, only being able to make it to the playoffs twice in more than a decade.

But despite the performance woes, right before the sale, the team was estimated to have a value of around $3 billion. Furthermore, Jordan did not completely sell his stake in the team, he still retains a minority stake as the Horners continue on under its new ownership.

About the author

Srijan Mandal

Srijan Mandal is the Lead NASCAR Editor and Strategist at The Sportsrush with a wealth of experience and expertise in the world of motorsports. With several thousand articles under his belt over the years, he has established himself as a leading authority on all things racing. His passion for motorsports started at a young age, and he has dedicated his career to covering the sport in all its forms. He is an expert in various disciplines, including stock car racing, American motorsports, Formula 1, IndyCar, NHRA, MotoGP, WRC, WEC, and several more. But Srijan's love for racing goes beyond his writing. He actively competes in professional open-wheel sim racing, using '88' as his racing number. While he mostly participates in GT Endurance classes, he also ventures into Stock Car racing from time to time. In case, you wish to contact Srijan, kindly send an email to him at [email protected] or just DM him on Twitter.

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