NASCAR dealt financial BLOW as Jordan-owned team revelation emerges

NASCAR have been dealt a financial setback after losing a major title sponsor, but Michael Jordan and 23XI Racing's deal with the company reportedly remains intact.

Away from the track at present, Jordan's team is embroiled in an antitrust lawsuit with NASCAR, alongside Front Row Motorsports, with no end currently in site, suggesting the legal battle will rumble on throughout the 2025 season.

READ MORE: 2025 NASCAR Cup Series: Daytona 500 start times, schedule and TV channels

READ MORE: NASCAR Daytona 500 Weather: Latest forecast as RAIN and THUNDERSTORMS threaten iconic race

This legal battle came just weeks after 23XI and Front Row Motorsports refused to sign up to NASCAR's new charter agreement by the series' self-imposed deadline.

Now, in a separate matter, it appears as though 23XI Racing may be celebrating a one-up on NASCAR, as the series looks set to lose a key sponsor.

NASCAR to lose key sponsorship

It has been reported that Xfinity will end their title sponsorship of NASCAR’s second-tier series — currently known as the Xfinity Series — after 2025, but according to Sports Business Journal, the company will continue as 23XI Racing's sponsor in the Cup Series.

The second-tier series of NASCAR has been known as the Xfinity Series since the beginning of the 2015 season, but after 2025 it will be replaced. The deal is reported to have been valued at $200 million — $10 million in annual rights fees to NASCAR, and a further $10 million in yearly activation commitments.

As well as remaining as a sponsor of Jordan's co-owned Cup Series team, Xfinity has also renewed its broader premier partnership with the sanctioning body, just not as a title sponsor.

Comcast vice president Matt Lederer said of the ending partnership: "11 years of being an entitlement partner and having the run that we’ve had has been amazing, and now I think it’s time for someone else to take that mantle and continue to grow the series to heights that we can’t even consider at this point.

"I will forever for the rest of my career be really proud of what we’ve been able to do collectively in the way we’ve taken this series to a new level and therefore our brand to a new level."

As per reports, Xfinity's sponsorship of 23XI Racing is set to see a new commercial featuring driver Tyler Reddick airing around the Daytona 500 race this weekend.

READ MORE: Daytona 500: All you need to know about the Great American Race

Related

NASCAR Cup Series

NASCAR Cup Series: Daytona 500 format explained for 2025

• 3 uur geleden

Daytona 500

NASCAR Daytona 500 Weather: Latest forecast as rain and thunderstorms threaten iconic race

• Today 15:00