NASCAR nixes Brandon Brown sponsorship with crypto firm LGBcoin

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One of the rising stars in skilled inventory automotive racing misplaced a sponsorship deal this week as a result of the cryptocurrency firm behind the partnership attracts its roots from a divisive political slogan —”Let’s Go, Brandon”— that has turn out to be a conservative catchphrase for cursing in opposition to President Joe Biden.

NASCAR driver Brandon Brown introduced final week that he signed a sponsorship with, a newly created meme cryptocurrency just like Dogecoin. The deal included Brown racing this 12 months with the LGBcoin brand painted on his automotive. Brown, 28, drives a Chevrolet Camaro for Brandonbilt Motorsports. 

However, prime officers at NASCAR rejected the sponsor and paint scheme on Tuesday afternoon, a supply with information of NASCAR’s determination informed CBS MoneyWatch.

Both the “team owner and driver were told on Nov. 5 in an in-person meeting that no form of this derogatory and vulgar euphemism would be allowed on any paint scheme or sponsorship,” based on the supply stated. 

Brandonbilt did not reply to a request for remark Wednesday concerning the sponsorship. NASCAR additionally declined remark. 

Brown discovered himself thrust into the nationwide highlight not too long ago after a post-race interview he gave in October inadvertently spawned the phrase “Let’s go, Brandon” — a veiled insult to President Biden that has since turn out to be a brand new mantra amongst some Republican conservatives. 

After successful his first Xfinity Series race on the Talladega Superspeedway in Alabama, Brown was being interviewed by an tv reporter when the group behind him started chanting. While the reporter instructed they had been saying “Let’s go, Brandon!” it quickly turned clear that the group was chanting a vulgarism at Mr. Biden. 

After the interview, the “Let’s Go Brandon” slogan quickly turned code for an insult towards Mr. Biden. 

Its identify however, LGBcoin does not admit to any reference to “Let’s Go Brandon” as an assault on Mr. Biden and as a substitute, on its web site, calls the cryptocurrency “not inherently political.” The coin first appeared in early November and now has a market cap of roughly $180 million, based on CoinMarketCap

LGBcoin founder James Koutoulas stated in a press release final month the corporate wished to sponsor Brown as a result of he is “an incredibly talented driver” and “wise beyond his years.” The sponsorship’s purpose was to market Brown as “America’s Driver,” Koutoulas stated. 

“If we do our job right, when you think of us, and you hear, ‘Let’s Go Brandon,’ you’ll think and feel, ‘Let’s Go America,'” Koutoulas stated when first asserting the sponsorship. 

The newly painted Brown-LGBcoin automotive was scheduled to debut subsequent month at Daytona International Speedway. In an op-ed printed final month in Newsweek, Brown stated he has “no interest in leading some political fight.”

NASCAR driver Brandon Brown poses in entrance of a newly painted model of his Chevrolet automotive. Brown had a sponsorship with that was later nixed by NASCAR.

LakeSide Media

Still, the Let’s Go Brandon incident serves as the most recent instance of NASCAR nipping one thing extremely political within the bud. The league has spent the previous two-plus years transforming its id right into a sport that is extra welcoming to a various crowd of race followers. 

In June 2020, following nationwide protests over the demise of George Floyd, NASCAR completely banned the presence of Confederate flags from its occasions, as a result of it stated the image ran opposite to the league’s purpose of “bringing people together around a love for racing.” 

That determination was prompted by Bubba Wallace, NASCAR’s solely Black full-time driver, who had known as for the flag to be banned. Wallace, additionally 28, has led many of the racial justice adjustments that NASCAR has applied in recent times, together with the Confederate flag elimination, ESPN reported.

A 12 months later, Wallace turned solely the second Black NASCAR driver to ever win a Cup Series, behind Wendell Scott in 1963.

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