SBD/Issue 169/Sponsorships, Advertising & Marketing

Wheels & Deals: Waltrip Says Sponsor Agreements Solid

Waltrip Says Sponsor Relations
Strong Despite Poor Performance
Despite the struggles Michael Waltrip Racing has faced this year, Waltrip said, “Our sponsor contracts and our Toyota agreement are all very solid.” Waltrip added, “Despite rumors on the Internet that we’re going to have to give back money because we don’t qualify or we’re going to lose our sponsors, that’s just not the case. The only sponsors not guaranteed for next year are Domino’s and Burger King [on David Reutimann’s No. 00 Toyota], and they never have been” (USA TODAY, 5/25). NAPA is the primary sponsor of Waltrip’s No. 55 Toyota and UPS is the primary sponsor of Dale Jarrett’s No. 44 Toyota (THE DAILY).

EARNHARDT: NASCAR SCENE’s Bob Pockrass reported the will of the late Dale Earnhardt, which was signed in ’92, “didn’t give [Dale Earnhardt Jr.] an ownership stake” in DEI. Earnhardt Sr. gave wife Teresa Earnhardt the power “to retain and carry on any business or property in which I may own an interest at the time of my death.” After Earnhardt’s death, the court-approved asset assignment included a provision giving Teresa “all of the stock owned by decedent in [DEI]” (SCENEDAILY.com, 5/24).

GORDON: USA TODAY’s Gary Graves writes NASCAR driver Jeff Gordon has used business tips Earnhardt Sr. gave him early in his career to “develop his brand.” Gordon ranked 16th on Forbes’ ’06 list of top-earning athletes, with $23.4M from salary and endorsements. Hendrick Motorsports Owner Rick Hendrick, who owns Gordon’s No. 24 Chevy, said, “He just has a natural gift. We never had to give him any marketing training” (USA TODAY, 5/25).

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Related Topics:

Burger King, NASCAR, Toyota, UPS

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