The "folksy, unpretentious world" of NASCAR is the cover
story of this week's SPORTS ILLUSTRATED. SI's Michael Silver
writes that, "in a sports world tarnished by a widening gap
between performer and consumer, NASCAR is a grand exception, an
unspoiled bastion of Americana, a traveling road show in which
even the biggest stars are taught to regard themselves as
commoners." NASCAR is run by Bill France Jr., who took over
after his father, Bill Sr., the founder of NASCAR, died in '92.
"Everyone in NASCAR is aware of the junior France's power, but
few are critical of him." Car Owner Robert Yates on France Jr.:
"He is a dictator, but he is taking care of the show." On the
corporate presence in NASCAR, France Jr. believes the sport was
"on time with corporate sponsorship, and other sports were just
late. Twenty years ago, nobody thought corporate sponsorship of
college bowl games was a good idea; now, the bowls need it."
NASCAR also benefits from a strong fan base, surveyed to be the
"most brand loyal in sports" and last year, sales of NASCAR
apparel, souvenirs and collectibles hit $400M (SPORTS
ILLUSTRATED, 7/24 issue).
NEW INDYCAR SPONSOR: This is the first year the Grand Prix
of Cleveland is sponsored by Medic Discount Drugstores, a
Mayfield-OH based chain. It is also the first IndyCar race
sponsored by a drug store chain. Alan Lipsyc, Dir of Sales
Operations for Medic, said the company has signed a three-year
agreement with IMG to sponsor the race, with an option for two
additional years. After Budweiser pulled out of the title
sponsorship last year, Lipsyc met IMG Senior VP Bud Stanner, who
recommended that Medic "invest in its own future" by signing on.
Lipsyc said by sponsoring the event, Medic hopes to expand its
customer base and establish a more visible presence in the
Cleveland area (Denise Melilli, CRAIN'S CLEVELAND BUSINESS, 7/17
issue).
