NASCAR has denied Brandon Brown’s request to feature the LGBcoin as his primary sponsor for the 2022 NASCAR Xfinity Series season.
Investor advocate attorney for LGBcoin James Koutoulas confirmed the news and promised to fight back.
NASCAR denies “Let’s Go Brandon” car; Sponsor threatens lawsuit – Sports
“Now it’s war.” https://t.co/xDOpQ3w3s2
— James Koutoulas (@jameskoutoulas) January 5, 2022
NASCAR ruled that it is not an approved sponsorship. The NASCAR Xfinity Series rulebook states that it may refuse sponsorships that are deemed “detrimental to the sport.”
Koutoulas posted on Twitter that NASCAR had approved the sponsorship. He shared screenshots of emails that he says show proof that NASCAR gave approval.
The @brandonbrown_68 went through proper @NASCAR approval process and received formal written approval. If @nascar revokes approval, we will bring suit upon them on behalf of all @LGBcoin_io HODLers who were damaged by their reliance on @nascar written approval & #cancelnascar https://t.co/Tt2dIhWhkS pic.twitter.com/3ooI4VTSMG
— James Koutoulas (@jameskoutoulas) January 5, 2022
“[Brandon Brown’s team] went through proper @NASCAR approval process and received formal written approval,” Koutoulas said in a tweet. “If @NASCAR revokes approval, we will bring suit upon them on behalf of all @LGBcoin_io HODLers who were damaged by their reliance on @NASCAR written approval & #cancelnascar.”
In November, NASCAR President Steve Phelps stated that the “Let’s Go Brandon” chant was “unfortunate.”
“We do not want to associate ourselves with politics, the Left or the Right,” Phelps said. “We obviously have, and we’ve always had, as a sport, tremendous respect for the office of the president, no matter who is sitting.”
The LGBcoin.io is a cryptocurrency meme coin based on the “Let’s Go Brandon” euphemism for “F*** Joe Biden” after Brown won his first race at Talladega in October.
Others are pushing back against the NASCAR ruling against Brown’s sponsorship, questioning why NASCAR driver Bubba Wallace’s No. 43 car was allowed to display #BlackLivesMatter.
I’m done watching NASCAR, we can have a Black Lives Matter car on the track but not this? It’s all become way to political.
— Jay Broadway (@bricksalesman1) January 5, 2022
WATCH: NASCAR DRIVER BRANDON BROWN GETS ‘LET’S GO BRANDON’ CRYPTOCURRENCY SPONSOR
Despite Brown’s previous comments about wanting to stay out of politics over concerns of losing sponsorship deals, Brandonbilt Motorsports noted in its December press release that Brown was pleased with the partnership.
“Having the financial support of LGBcoin is incredible, especially at such a pivotal time in our team’s growth as we work to build to the next level of competition,” Brown said. “From wondering if we would have the financial means to continue to compete, to my first major win (at Talladega no less), to becoming an unintentional meme, this past season was a rollercoaster. The support of sponsors like LGBcoin empowers us to be as competitive as possible and I’m looking forward to competing hard on the track in 2022.”
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Brown’s No. 68 Chevrolet Camaro displaying LGBcoin was set to make its debut during the NASCAR Xfinity Series season opener at Daytona International Speedway on Saturday, February 19, 2022.
