NASCAR Driver Denied Use Of 'Let's Go Brandon' Crypto Sponsor

MOORESVILLE, NC — Brandonbilt Motors has officially been denied usage of the cryptocurrency LGBCoin as a sponsor, according to NASCAR.

According to the NASCAR Xfinity Series rulebook, NASCAR may deny a permit to a competitor if NASCAR decides any sponsorship could be detrimental to the sport, the series sponsor or the promoter "for any reason."

The phrase "let's go Brandon" means "f--- Joe Biden."

Given that blanket right of refusal, some are confused as to why Brandonbilt Motors released information that the sponsorship was approved just a week ago.

Typhoon Capital Management founder James Koutoulas, who is an investor in the LGBCoin, said the denial announcement came after someone at NASCAR initially approved the sponsorship.

Koutoulas shared the email correspondence between the team and NASCAR on social media Tuesday, after the formal NASCAR denial news was announced.

An email to Mac MacLeod at Fast Lane Media from Dale Howell at NASCAR Racing Operations reads "the sponsors are approved, however please clean up the markings around the number especially the white stars touching the white number."

He goes on to explain nothing should be touching the numbers within at least 2 inches.

Koutoulas went on to publicly announce that a lawsuit will be filed against NASCAR.

"The Brandon Brown 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 HODLers who were damaged by their reliance on NASCAR written approval and cancel NASCAR," he shared.

On Wednesday, he said they reached out to NASCAR president Steve Phelps but that calls were not received. "So now it’s war," Koutoulas stated on his Twitter profile.

NASCAR itself has not released a formal statement about the sponsorship kerfuffle.

A statement was issued by Brandonbilt Motors on Wednesday afternoon from spokesperson Max Marcucci, shared by FOX Sports' Bob Pockrass.

"We are disappointed that NASCAR leadership has chosen to rescind approval of the sponsorship and feel they should have the confidence to own their decision to backtrack and not gaslight a team or a driver," the statement reads in part. It goes on to say relationships they have are now "strained" and they are in an "extremely awkward" position.

Marcucci also says they not only received the email approval, they also had a phone conversation that approved the sponsorship as well.

According to The Athletic's Jeff Gluck, Brown was told in November that any "let's go Brandon" schemes would not be approved.

Meanwhile, NASCAR is expected to ban political sponsorships altogether in the coming weeks, according to Adam Stern at the Sports Business Journal.

For Brandonbilt Motorsports and Brandon Brown, his driving future is currently "unclear."