NASCAR has backtracked on its approval of driver Brandon Brown's sponsorship with LGBcoin, Brown's spokesman Maxwell Marcucci has told Fox Business.
"After the announcement went live on Thursday morning, NASCAR acknowledged to us late that afternoon that we had received approval but that they now needed to discuss this at a higher level," Marcucci said.
Brandonbilt Motorsports announced its partnership with LGBcoin on Thursday and said the logo of the cryptocurrency meme coin would be displayed on Brown's Chevrolet Camaro for the entire NASCAR Xfinity Series, which includes 33 races.
However, a spokesperson for NASCAR said that Brandonbilt Motorsports "jumped the gun" by announcing the partnership on Thursday, according to Motorsport.com
But Marcucci insisted that NASCAR's statement runs "counter to facts of the situation" and that, as a Brandonbilt Motorsports press release states, the approval of the partnership was given days ahead of time and was "unambiguous."
He said the only question left open was that a NASCAR official gave feedback on a minor change in graphic design "to ensure legibility on the track at 170 mph."
James Koutoulas, a leading holder of LGBcoin and founder of Typhoon Capital Management, said that he hopes individuals hear "Let's Go Brandon" when thinking of the coin. "We are proud to support Brandon this season, to help him continue his American dream. 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 also told USA Today that NASCAR approved the sponsorship deal contingent on the use of the LGB acronym, which is the design being used, rather than spelling out "Let’s Go Brandon," for the paint scheme on Brown’s car.
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