NBA legend and current NASCAR team co-owner Michael Jordan has reportedly been cautioned against venturing into Formula 1 as discussions surrounding his role in NASCAR ownership continue. The six-time NBA champion, who co-owns 23XI Racing with driver Denny Hamlin, has made waves in the motorsports world since entering the NASCAR Cup Series in 2021. Now, speculation about his next move is heating up.
Formula 1: An Uncharted Territory for Jordan
Jordan’s competitive spirit and business acumen have fueled rumors about a possible investment in Formula 1, a sport that has seen significant growth in the United States thanks to races like the Miami and Las Vegas Grands Prix. However, some industry insiders and advisors have reportedly warned him to think twice before diving into the global motorsport powerhouse.
The primary concern? Formula 1’s high financial barrier to entry and the challenges of competing with well-established teams like Mercedes, Red Bull, and Ferrari. One insider commented:
“While Jordan has the resources and vision, breaking into F1 is a different beast altogether. It’s not just about money; it’s about navigating a highly competitive and political environment.”
NASCAR Ownership Under Review
Closer to home, Jordan’s role in NASCAR is also under scrutiny. His team, 23XI Racing, has made significant strides since its inception, fielding cars for drivers Bubba Wallace and Tyler Reddick. The team has secured wins and playoff appearances, proving its competitive potential.
However, reports suggest that Jordan may be reevaluating his long-term commitment to NASCAR ownership. Some speculate that rising operational costs and the complexities of running a team could be factors in his deliberation.
Denny Hamlin, Jordan’s partner in 23XI Racing, addressed the rumors in a recent interview:
“Michael is as committed as ever to our vision for 23XI. We’re constantly looking at ways to grow and adapt, but any speculation about him stepping back is premature.”
A Balancing Act Between Passion and Business
Michael Jordan’s foray into motorsports is rooted in his lifelong passion for racing, but it’s also a business venture. His ability to elevate 23XI Racing has drawn attention to NASCAR from fans who may not have otherwise tuned in, particularly in younger and more diverse demographics.
If Jordan does decide to pursue Formula 1, he would face a learning curve in a sport with vastly different dynamics. On the other hand, a continued focus on NASCAR could solidify his legacy as a transformative figure in American motorsports
