Entrepreneur Phyllis Newhouse is looking at getting into NASCAR as a team owner, a move that would make her among the first Black women investors in the history of the sport, SBJ can reveal.
Newhouse, a 22-year U.S. Army veteran with a notable background in the cybersecurity industry, has been in talks with big and small teams in NASCAR for months, as well as other stakeholders like the sanctioning body itself and track owners, according to people familiar with the matter. Newhouse’s interest in starting a NASCAR team had not been previously reported.
She’s conducted due diligence to look at investing into the bigger teams in NASCAR’s premier Cup Series or buying a charter from smaller teams to start her own new outfit. Up to now she has yet to find a suitable deal, but Newhouse confirmed to SBJ in an email that she is exploring this and remains interested in the possibility.
Newhouse is the founder of cybersecurity company Xtreme Solutions and became the only Black woman CEO of an SPAC, Athena, listed on the N.Y. Stock Exchange in 2020. She also has a non-profit called ShoulderUp that is aimed at empowering women in business.