DraftKings and Racing Team 23XI Enter Into a Sponsorship Agreement
According to a press release on Nascar.com, DraftKings has entered into a sponsorship agreement with the 23XI NASCAR Racing Team, which features driver Bubba Wallace and is owned by Hall of Fame and six-time NBA champions basketball player Michael Jordan along with Joe Gibbs Racing driver Denny Hamlin. The deal makes DraftKings the first Official Daily Fantasy Sports, iGaming, and Sports Betting Partner of the recently formed racing team.
The sponsorship agreement began with the May 23rd Echo Park Automotive Texas Grand Prix at Circuit of the Americas in Austin, Texas, and will continue throughout the 2021 NASCAR season. DraftKings will supply a logo for the number 23 Toyota Camry, and the sponsorship will expand on the company’s role as the Official Daily Fantasy Partner of NASCAR.
In the press release, the sponsorship agreement is a definite win for both parties, DraftKings and Racing Team 23XI alike.
“Joining forces with the 23XI Racing organization near the beginning of its growth makes this collaboration all the more impactful for DraftKings,” said Ezra Kucharz, Chief Business Officer at DraftKings. “Beyond the brand and product integrations of this deal, we also greatly admire Bubba Wallace’s ongoing advocacy for social justice and Inclusion, Equity, and Belonging efforts because they align perfectly with our company values.”
The 23XI Racing Team was formed in the fall of 2020 and officially began competing in the 2021 season-opening Daytona 500, where Bubba Wallace finished in a respectable 17th place after finishing second in his Dual 125 qualifying race. The best finish for the number 23 came May 16th in the Drydene 400 at Dover International Speedway, where he finished in 11th place, but Wallace was involved in an early crash the following week and exited early in the 39th position in his most recent outing.
“As we continue to build the foundation of 23XI Racing, it’s important for us to add brands that align with our values both on and off the track,” added interim 23XI Racing President Steve Lauletta. “DraftKings is a leader in sports technology and entertainment and a company that we were able to add to our already stellar list of sponsors who’ve joined us in our first year.”
“Adding DraftKings allows us to bring unique experiences to our fans as we continue to grow our reach, showcasing our team to fans outside the NASCAR platform, as well as work together in support for social justice and other Inclusion, Equality, and Belonging efforts. We’re looking forward to having DraftKings be a part of the growth of 23XI Racing and seeing them on the track at Pocono for their primary race.”
“I’m excited to see what we are capable of creating together as we welcome DraftKings to the 23XI Racing family,” said Bubba Wallace. “As a big fan of the company, this relationship marks a historic moment as we integrate with a leader in sports technology and entertainment to enhance the experience of racing fans across the board.”
DraftKings is a leader in Daily Fantasy Sports applications, and it has experienced significant growth in its online sportsbook operation with the increase in legalized sports betting as more than half the states in the country are now allowing the practice. The partnership with 23XI will allow DraftKings to offer exclusive Bubba Wallace merchandise as prizes for its free-to-play pools other racing-related games.