The one thing that made Bubba Wallace’s car stand out from the rest of the field was its iconic red and yellow paint job of the McDonald’s logo. Michael Jordan’s co-owned 23XI Racing had a long-term deal tied with the fast-food joint, but earlier this season, it fell apart as McD’s decided to withdraw from NASCAR. Three months later, however, 23XI’s president might have an explanation for it.

Steve Lauletta hints at why McDonald’s left 23XI

“I know they had some business challenges,” claimed the 23XI Racing president. McDonald’s wasn’t new to motorsports or NASCAR. In the past, they sponsored the likes of Bill Elliott and Ross Chastain, with the former being one of the first ones to ever be sponsored by the brand. The deal to sponsor #23’s car, with a prominent ‘M’ logo on the car’s hood, was ended in January.

“You got to figure out what to do with the money that you have. They love the sport – it wouldn’t surprise me if they came back into the sport at some point,” Lauletta added.

While he hinted at the brand making a comeback, there is no guarantee of the same. Interestingly, when McDonald’s, a company valued at $221.78 billion, decided to drop out of the sport, its stock value had taken a hit, and it peaked later, before taking another hit. However, it might have nothing to do with their participation in NASCAR.

It did not take Michael Jordan and his associates to find a new sponsor for the team. They came up with Hardee’s, which has been sponsoring the #23 car this year.

“They have been spectacular early on in what they plan to do, the content they’ve shot, the paint scheme, the plans that are coming for Nashville and other race markets that are important to them,” Lauletta said, referring to the new sponsorship.

However, it is no surprise that 23XI Racing manages to find good and reliable sponsors. The team’s performance is one point, but their origins with Denny Hamlin and Michael Jordan, who has already done a lot in his time as a NASCAR team owner, become a proving point for most brands.

How Michael Jordan nails brand partnerships

The NBA legend has been the center of strong partnerships for decades. He proved himself in the role decades ago, when 23XI Racing was not even a concept, even before Hamlin made his NASCAR debut.

In 1984, Jordan signed an unprecedented deal with Nike, a six-year contract worth $2.5 million. While the brand is massive today, it was financially suffering compared to its competitors in the market. But they provided Jordan with something unique: instead of placing him within their product line, they built an identity around him. This led to the launch of the Air Jordan, which became a massive hit among the fans. What began as a marketing campaign for the rookie turned into the brand’s most-valued product. And it wasn’t just Nike that took the risk; it was also Jordan.

And all of this happened while Michael Jordan had offers from the likes of Adidas and Converse, who were more powerful than Nike. But Jordan seemingly could think in the long run and made the right call. In fact, Nike ended up purchasing Converse in 2003.

So, it is no surprise that even 23XI Racing on the Cup Series field is able to bring in reliable and strong sponsors. While Jordan might not personally be overseeing every tiny bit of these details, his vision has helped the team to become possible title contenders for this season.