Steve Harvey — Racist NASCAR Crushed His Speed Dreams (Update)

UPDATE Steve Harvey says he has NO DESIRE to own a NASCAR team … despite allegations in a new lawsuit — saying straight-up, "I don't even like fast ass cars!"

TMZ broke the story … a racing exec is suing NASCAR and nearly all of its racing teams for more than $500 MILLION — claiming he tried to team with Harvey to start a team last year, but NASCAR shot them down. The exec, Terrance Cox, claimed racists at NASCAR blocked the move. But Harvey says the whole thing is B.S. — claiming he NEVER tried to start a NASCAR team … and says Cox is lying about the whole thing.

In fact, Harvey went on his radio show and says his relationship with Cox was only supposed to be about helping underprivileged youth … but things turned weird, so Harvey backed away. "I don't want no damn race team," Harvey says … "I wish [Cox] had some money so I could sue him but he ain't got none."

09/20/16 Steve Harvey's bid to start a NASCAR team crashed and burned … and at least one racing exec thinks it's because stock car racing's honchos are racists reports TMZ Sports.

Terrance Cox, the CEO of Diversity Motorsports, paints NASCAR as a stereotypical good ole boy network — and says the league has shot down his numerous attempts to join its elite ranks.

According to a lawsuit, NASCAR even rejected a bid from Harvey last year. Cox says the comedian wanted to work with him to start a new racing team called "Steve Harvey Races 4 Education."

Cox was down, but says NASCAR told Harvey it would never approve a team associated with Diversity Motorsports.
In the suit, Cox points out all 48 drivers in the league's top tier, Sprint Cup, are white … and only one is African-American in its 2nd tier, Xfinity Series.

Here's the kicker … Cox is suing NASCAR and nearly ALL of its racing teams for $500 million!

Ironically, one of the teams he's suing is JTG Daugherty — which is 10% owned by Brad Daugherty … the African-American former NBA star.

We've reached out to NASCAR, but no word back yet. TMZ Sports