Michael Jordan will partner with Denny Hamlin to start a new NASCAR race car team, with Bubba Wallace announced as the team's first driver.

"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. Historically, NASCAR has struggled with diversity and there have been few Black owners. The timing seemed perfect as NASCAR is evolving and embracing social change more and more. In addition to the recent commitment and donations I have made to combat systemic racism, I see this as a chance to educate a new audience and open more opportunities for Black people in racing," released Jordan in a statement.

Hamlin, a season-ticket holder of courtside seats to the Hornets, is a three-time Daytona 500 winner.

The team will feature a single-car Toyota entry aligned with Joe Gibbs Racing.

"Eleven years ago I met Michael Jordan at a then-Charlotte Bobcats game and we became fast friends. 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," wrote Hamlin.