NBA legend Michael Jordan announced the purchase of a NASCAR Cup Series Charter with Bubba Wallace as the driver when the 2021 NASCAR Cup Series season begins. The news comes after Wallace revealed on Sept. 10 that he will no longer be racing for Richard Petty Motorsports.

Jordan, who is the current owner of the NBA’s Charlotte Hornets, will be the majority owner of a NASCAR Cup Series team while Denny Hamlin is a minority owner of the single-car team.

“Historically, NASCAR has struggled with diversity and there have been few Black owners,” Jordan said in his statement. “The timing seemed perfect as NASCAR is evolving and embracing social change more and more.”

Jordan becomes the first Black principal owner of a full-time Cup team since Hall of Famer Wendell Scott drove his own race car in 495 races from 1961 to 1973. Scott’s 1964 victory at the Jacksonville 200 is the only win by a Black driver in Cup history.

“Growing up in North Carolina, my parents would take my brothers, sisters and me to races, and I’ve been a NASCAR fan my whole life,” Jordan said in a news release. “The opportunity to own my own racing team in partnership with my friend, Denny Hamlin, and to have Bubba Wallace driving for us, is very exciting for me.”

Hamlin, a three-time Daytona 500 winner and a top contender for this year’s Cup title, will be part of a single-car Toyota entry aligned with Joe Gibbs Racing. Hamlin has raced his entire career for Gibbs, a Hall of Fame NFL coach.

“Eleven years ago I met Michael Jordan at a then-Charlotte Bobcats game and we became fast friends,” Hamlin wrote. “Not long after, I joined Jordan Brand as their first NASCAR athlete. Our friendship has grown over the years and now we are ready to take it to the next level.

“Deciding on the driver was easy — it had to be Bubba Wallace,” said Hamlin.

Wallace is the only Black driver in the Cup Series and this season used his platform to push for racial equality. The 27-year-old successfully urged NASCAR to ban the display of the Confederate flag at its events.

Wallace is winless in 105 Cup starts over four seasons, but he has six career victories in the Truck Series. He’s been hampered by mid-level equipment driving the No. 43 for Hall of Famer Richard Petty and, until this summer, the team struggled to land sponsorship.

Wallace, has raised about $18 million in sponsorship deals since he made racial equality his platform, had already announced he was parting with Petty.

“This is a unique, once-in-a-lifetime opportunity that I believe is a great fit for me at this point in my career,” Wallace wrote. “I am grateful and humbled that they believe in me and I’m super pumped to begin this adventure with them.”

Jordan and Hamlin purchased a charter for their team from Germain Racing that guarantees Wallace a spot in the 40-car field every week.