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NASCAR’s Business Tycoons: Drivers Who Are Revving Up Revenue
May 08, 2025 | Edition #13
Hey there!
NASCAR’s biggest names are shifting gears. From legends of tracks, they are now brand builders. In today’s edition, we explore how this wave of driver-led ventures has reshaped the sports business landscape. And this week, we also went behind the scenes with John Andrews, the acting CMO of Michael Waltrip Brewing Company. From tapping into motorsports culture to standing out in a crowded craft beer market, some key learnings are also packed inside.
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Today’s TLDR:
🏁 Drive to Success: NASCAR Icons & Their Business Victories
🏆 How a Two-time Daytona 500 Champ Is Building a Beverage Legacy
📖 The stories shaping the industry (and the lessons we learned this week)
Let’s dive in. 🚀
2.56 | Despite coinciding with F1’s Miami GP, which attracted 2.1M viewers, NASCAR’s Würth 400 drew 2.56M, highlighting its strong grip on the American fanbase. |
NASCAR drivers are not just masters of speed—they’ve turned their fame into thriving businesses. From race teams to consumer goods, these athletes are expanding their legacies beyond the racetrack.
In 2002, NASCAR Hall of Famer Kevin Harvick founded Kevin Harvick Incorporated (KHI), which merged with Richard Childress Racing in 2012. Harvick also launched KHI Management, a talent and sports marketing agency, which in 2025 expanded beyond motorsports to manage golfers and UFC stars.
Harvick formed another business under his brand name: KHI Management–a talent and sports marketing agency. In 2025, KHI has expanded its footprint beyond motorsports, bringing golfers to UFC stars under its roster.
Kyle Busch, another NASCAR legend, founded Kyle Busch Motorsports (KBM) in 2010.
KBM team notched 100 victories between 2010 and 2023.
It took only seven years for KBM to break RFK Racing’s record of the most successful team, crossing 50 titles.
KBM was the launching pad for stars like Erik Jones, Christopher Bell, William Byron, and Bubba Wallace.
Busch sold his team to Sprite Racing for $14.5M, including a 77,000-square-foot race shop in North Carolina. However, not all his ventures have been smooth. Rowdy Energy, his beverage company, raised $13 million and gained 50,000 customers in two years, but ultimately failed to maintain momentum, and he discontinued it. Not that it stopped his peers from growing their businesses.
Take Dale Earnhardt Jr., for example. His business portfolio is diverse, touching on Motorsports teams to beverage companies:
JR Motorsports: Xfinity Series team.
Dirty Mo Media: Podcast network, including "The Dale Jr. Download."
High Rock Vodka: Co-founded with wife Amy.
FilterTime: Air filter subscription service.
Whiskey River Restaurants: Bar and grill chain.
Similarly, Kyle Larson, Denny Hamlin, and Ross Chastain have found success in their respective business ventures as well.
Kyle Larson is involved in business ventures beyond his NASCAR racing career, including co-ownership of the High Limit Racing Sprint Car Series.
Denny Hamlin established the 23XI Racing NASCAR Cup Series team co-owned with Michael Jordan.
Austin Dillon opened the Team Dillon Management Company, which now manages NASCAR drivers.
If you think about it, NASCAR drivers transitioning into successful business moguls is not at all surprising. Their popularity, which is evident from the numbers below, makes them the perfect face of a brand.
But in addition to fan loyalty and strong brand image, the stars of motorways have another connection: the sport itself.
The Special Connection Between NASCAR and Big Businesses
NASCAR drivers, early on in their careers, learn to navigate the world of business via sponsors. That gives them an understanding of branding, the power of marketing, and networking.
✅The sponsor-driven world of NASCAR puts the drivers at the center of business.
✅That gives them a chance to get mentorship from the industry leaders and help build a team of trusted partners.
✅The close connection with finance, energy, and automotive companies allows for better access to capital as well.
NASCAR fosters an entrepreneurial environment where drivers learn to manage teams and develop people management skills. Each team member has a specific role, and success depends on seamless collaboration. Effective communication, with clearly defined roles, is key to minimizing errors and driving team success.
NASCAR drivers aren’t just athletes—off the track, they’re business moguls. The early exposure to sponsorship negotiations, business deals, and team dynamics gives them a unique advantage in the commercial world. What the world is seeing now is a natural evolution of that foundation.
Harvick is managing talent, Busch is scaling teams, and Earnhardt is diversifying into media and spirits. Don’t make the mistake of categorizing them as vanity projects—they’re not. These ventures are leveraging fan loyalty and high-growth sectors to build empires that outlast their racing careers.
So, it’s a combination of star power, strategic relationships, and, of course, a fiercely competitive mindset that drives them to success.
Early exposure to major brands teaches NASCAR drivers to navigate high-stakes commercial environments.
Their career earnings and networks fuel investments in racing, consumer goods, and real estate.
Whether building legacy brands or supporting the sport's future, these athletes use their platform wisely, proving that the drive to win doesn’t stop when they hang up the helmet. That’s exactly the case with Michael Waltrip.
Waltrip established Michael Waltrip Brewing Co. in 2020. Five years later, they are aiming to open 100 taprooms across the U.S. John Andrews, the Acting CMO, joined for a chat to share the secret sauce in the latest episode of our ES Think Tank Podcast.
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In 2018, NASCAR legend Michael Waltrip found himself asking a simple question: Why aren’t there any craft beers that are actually easy to drink? This thought, sparked during a night out with friends, led to the creation of Michael Waltrip Brewing Company. And it all started with a few craft beers he simply didn’t enjoy.
A few months later, Waltrip purchased a brewery in Bristol. Five years on, Michael Waltrip Brewing Company is thriving with multiple locations and two popular beers—Talladega Light and Bristol Sunshine—boosted by Waltrip’s personal touch, building a loyal customer base.
Beer and tailgating are integral parts of NASCAR culture. A key reason why Waltrip ditched the beaten path of most craft beers: experimental fermentation and niche flavor profiles. Waltrip created his beers focusing on accessibility and community.
That’s the result of truly understanding your customers. As Andrews shared in the podcast, they aligned the product with the NASCAR fan lifestyle. “This beer and this lifestyle, the products that will bring along with that, are designed to appeal to that person and connect with them in their life,” he explained.
So, what does the average NASCAR fan enjoy? Outdoor activities like fishing, golf, and, of course, local tracks. And once you check the demographic breakdown of NASCAR fans, it’s not surprising.
“We really want to support the smaller tracks,” said Andrews in the chat with Trey. That’s why they introduced a beer garden at Volusia Speedway, a smaller dirt track near Daytona, which remains packed during Daytona 500 week. A similar concept was recently integrated at Clarksville Speedway.
These local tracks are the ‘Friday Night Lights’ of many towns. As Andrews explained, “It’s a very inexpensive entertainment for family, competitive sport, fun to watch. It gives us a way again to focus on the core persona that’s gonna be looking for the beer when they go their grocery store.”
Then there’s Michael Waltrip’s charm – a superstar grounded in reality. From the conversation with Andrews, it came out:
Distribution agreements with Walmart, Food City, Total Wine, Texas Roadhouse, and Buffalo Wild Wings.
Waltrip guest bartended at airports and made appearances at Publix.
The Daytona 500 champ is a natural on camera, becoming the brand’s top content asset.
How deeply is Michael Waltrip involved with the brand? Well, no beers are sold with Waltrip tasting them first. “He just doesn’t want to have crappy beer,” added Andrews, “So if he wouldn’t drink it, he’s not going to put his name on it, not going to sell it.”
Michael Waltrip Brewing Co. is brewing more than just beer; it’s brewing a movement. With a focus on quality, brand authenticity, and grassroots marketing, Waltrip has created a brand that resonates deeply with NASCAR fans. It's not just a product—it’s a community that thrives on reliability and passion.
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