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Robinhood Targets NASCAR Fans and Michael Jordan Followers with This Sponsorship Deal

Tuesday, 01/04/2025 | 12:17 GMT by Damian Chmiel
  • Robinhood partners with NASCAR team 23XI Racing for the 2025 season, expanding its sports partnerships beyond the NBA.
  • The team is partially owned by global basketball legend Michael Jordan.
Michael Jordan watches as his teams practice during the NASCAR Cup Series Championship race.
Michael Jordan watches as his teams practice during the NASCAR Cup Series Championship race.

Robinhood (NASDAQ: HOOD) announced today (Tuesday) its first foray into motorsports through a new partnership with 23XI Racing, the NASCAR team co-owned by basketball legend Michael Jordan and veteran driver Denny Hamlin.

Robinhood Enters NASCAR, Partners with Jordan-Owned 23XI Racing

The collaboration, set to debut at the Goodyear 400 at Darlington Raceway on April 6, will see Robinhood's branding featured on team uniforms, equipment, and select race cars throughout the NASCAR Cup Series season. The fintech company's logo will appear on the No. 23 and No. 67 Toyota Camry vehicles driven by Bubba Wallace and Corey Heim, respectively.

Steve Quirk, Chief Brokerage Officer at Robinhood
Steve Quirk, Chief Brokerage Officer at Robinhood

“By expanding our presence into motorsports, we're able to reach a passionate, engaged fanbase that's hungry to take control of all aspects of their lives, including their finances,” Steve Quirk, Robinhood's Chief Brokerage Officer, commented.

NASCAR (National Association for Stock Car Auto Racing) is one of the most popular motorsports in the United States. It is consistently ranked as one of the most-watched sports in America, often coming in second behind the NFL in terms of television ratings. The live events can draw huge crowds, with some races attracting over 100,000 spectators.

23XI Team President Steve Lauletta
23XI Team President Steve Lauletta

“As Robinhood continues to expand their presence in sports beyond the NBA, we're proud to partner with them and look forward to bringing the intensity of NASCAR racing to their growing customer base,” 23XI Team President Steve Lauletta welcomed the new partnership,

Driver Bubba Wallace also expressed enthusiasm about representing Robinhood, praising the company's “dedication to market accessibility and financial literacy.”

Robinhood Invests in Sports

This partnership continues Robinhood's strategy of engaging sports fans to build brand awareness and reach new audiences. The company currently holds NBA jersey patch sponsorships with the Washington Wizards, Memphis Grizzlies, and Miami HEAT.

The first agreement was signed with the Washington team and has been in effect since October 2023. Subsequently, Robinhood entered into two more sponsorship deals in September 2024, adding the Memphis and then Miami basketball teams to its roster.

KLUTCH Sports Group is currently responsible for helping establish new sports partnerships, with CEO Rich Paul serving as a strategic brand advisor for Robinhood.

Robinhood (NASDAQ: HOOD) announced today (Tuesday) its first foray into motorsports through a new partnership with 23XI Racing, the NASCAR team co-owned by basketball legend Michael Jordan and veteran driver Denny Hamlin.

Robinhood Enters NASCAR, Partners with Jordan-Owned 23XI Racing

The collaboration, set to debut at the Goodyear 400 at Darlington Raceway on April 6, will see Robinhood's branding featured on team uniforms, equipment, and select race cars throughout the NASCAR Cup Series season. The fintech company's logo will appear on the No. 23 and No. 67 Toyota Camry vehicles driven by Bubba Wallace and Corey Heim, respectively.

Steve Quirk, Chief Brokerage Officer at Robinhood
Steve Quirk, Chief Brokerage Officer at Robinhood

“By expanding our presence into motorsports, we're able to reach a passionate, engaged fanbase that's hungry to take control of all aspects of their lives, including their finances,” Steve Quirk, Robinhood's Chief Brokerage Officer, commented.

NASCAR (National Association for Stock Car Auto Racing) is one of the most popular motorsports in the United States. It is consistently ranked as one of the most-watched sports in America, often coming in second behind the NFL in terms of television ratings. The live events can draw huge crowds, with some races attracting over 100,000 spectators.

23XI Team President Steve Lauletta
23XI Team President Steve Lauletta

“As Robinhood continues to expand their presence in sports beyond the NBA, we're proud to partner with them and look forward to bringing the intensity of NASCAR racing to their growing customer base,” 23XI Team President Steve Lauletta welcomed the new partnership,

Driver Bubba Wallace also expressed enthusiasm about representing Robinhood, praising the company's “dedication to market accessibility and financial literacy.”

Robinhood Invests in Sports

This partnership continues Robinhood's strategy of engaging sports fans to build brand awareness and reach new audiences. The company currently holds NBA jersey patch sponsorships with the Washington Wizards, Memphis Grizzlies, and Miami HEAT.

The first agreement was signed with the Washington team and has been in effect since October 2023. Subsequently, Robinhood entered into two more sponsorship deals in September 2024, adding the Memphis and then Miami basketball teams to its roster.

KLUTCH Sports Group is currently responsible for helping establish new sports partnerships, with CEO Rich Paul serving as a strategic brand advisor for Robinhood.

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robinhood
About the Author: Damian Chmiel
Damian Chmiel
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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    Mind The Gap: Can Retail Investors Save the UK Stock Market?

    Mind The Gap: Can Retail Investors Save the UK Stock Market?

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official

    As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task. Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint: -Are they happy with the Leeds Reform, in principle and in practice? -Is it the government’s job to affect the ‘saver’ mentality? Is it doing well? -What can brokers and fintechs do to spur UK investment? -How can the FCA balance greater flexibility with consumer protection? Speakers: -Adam Button, Chief Currency Analyst at investingLive -Nicola Higgs, Partner at Latham & Watkins -Dan Lane, Investment Content Lead at Robinhood UK -Jack Crone, PR & Public Affairs Lead at IG -David Belle, Founder at Fink Money #fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance Connect with us at: 🔗 LinkedIn: / financemagnates-events 👍 Facebook: / financemagnatesevents 📸 Instagram: / fmevents_official 🐦 Twitter: / f_m_events 🎥 TikTok: / fmevents_official
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