Michael Jordan’s Daytona 500 victory comes with a massive payday: "I can't even believe it"

There is no better feeling for NASCAR fans when the legendary Daytona 500 takes place and this year’s race proves that point to the fullest. This past Sunday, the Great American Race was one for the books because Michael Jordan’s NASCAR team, 23XI Racing, won the race in dramatic fashion just two months after MJ’s legal antitrust battle with NASCAR.

23XI Racing’s driver, Tyler Reddick, entered the last lap in fourth place before taking the lead just seconds before crossing the finish line, which sent the NBA legend into a frenzy. Reddick’s clutch takeover was the only time he led throughout the whole race.

“Just incredible how it all played out. Just true Daytona madness. I’ve already lost my voice from screaming. Never thought I’d be Daytona 500 champion,” Reddick said after his win.

After snapping his 38-race losing streak, Reddick’s win came as an early birthday gift for Jordan, considering he turns 63 on Tuesday. In just six years, MJ’s NASCAR journey has certainly been remarkable, filled with fairytale stories, especially in the last year since the lawsuit over charters began.

“It feels like I won a championship, but until I get my ring, I won’t even know,” Jordan said after the race.

“I can’t even believe it. It was so gratifying. You never know how these races are going to end. You just try to survive. We hung in there all day. Great strategy by the team, and we gave ourselves a chance at the end. Look, I’m ecstatic,” he added.

What 23XI earned for their victory

According to Fox Sports’ Bob Pockrass, the estimated purse for the 2026 Daytona 500 is $31,045,575, which is more than that of last year’s race, with an increase of a little less than $1 million, marking it as the fourth year in a row in which the Daytona 500 purse has been revealed ($30,331,250 in 2025).

However, the prize amount for the race winner remains unclear, as NASCAR hasn’t disclosed it since 2015, when Joey Logano took home $1.58 million. Still, some recent court documents suggest that the winner of this year’s Great American Race will receive 5.16 percent of the purse, totaling approximately $1,601,950.

With that, in 2023, Pockrass reported that Daytona 500 winners earn between $1.5 million and $2 million annually. Considering 23XI is a chartered team, they likely received additional bonuses and commissions, bringing the total to around $2 million.

Since 2015, the overall purse for the Daytona 500 has increased by more than $13 million, from $18 million, proving the sport’s constant rising value.

Related: Michael Jordan faces backlash over weird celebration with a child after Daytona 500 win

What this means for MJ’s team

For Jordan, the earnings for this win don’t mean much, considering his jaw-dropping net worth of $3 billion. Rather, this win will likely transcend the business of MJ’s racing team for years to come. With sponsorships from McDonald’s, DoorDash, Dr. Pepper, Xfinity, and the U.S. Air Force, 23XI Racing’s win will most likely result in additional bonuses from its sponsors.

The NASCAR charters recently climbed to $45 million; Jordan’s estimated $35 million investment in the racing industry will result in a historic ownership of one of the biggest properties in sports.

The recent events involving Jordan’s NASCAR journey confirmed just how large a figure MJ really is, not just on the court, but off of it as well.

Related: Michael Jordan feels like he won an NBA title after winning the Daytona 500: “Until I get my ring, I won’t even know”

This story was originally published by Basketball Network on Feb 16, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.

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