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NASCAR rejected Xfinity Series driver Brandon Brown’s “Let’s Go Brandon Coin” lead sponsorship deal for 2022 after he publicly feared he would get canceled.
Brown’s team, Brandonbilt Motorsports, announced the LGBcoin, a cryptocurrency company that references the phrase in place of “F– Joe Biden,” with a video of the new number 68 car last week.
However, NASCAR on Tuesday said it had not officially approved the sponsorship.
“We do not want to associate ourselves with politics, the left or the right,” NASCAR president Steve Phelps said in November.
“I think it’s an unfortunate situation. Do we like the fact that it kind of started with NASCAR and then is gaining ground elsewhere? No, we’re not happy about that. But we will continue to make sure that we have respect for the office of the president,” Phelps added.
National radio host and best-selling author Todd Starnes called “B.S.” on the NASCAR president’s comments Wednesday.
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James Koutoulas, LGBcoin investor and Typhoon Capital Management founder who was quoted in the team’s announcement, tweeted Tuesday evening that Brown “went through the proper NASCAR approval process and received written formal approval” for the LGBcoin scheme.
Now Koutoulas is threatening legal action against NASCAR: