SBD/Issue 129/Sponsorships, Advertising & Marketing

Joe Gibbs Racing Finalizing Broad-Based Partnership With IMG

J.D. Gibbs Says Deal Will Not Preclude Race
Team From Working With Other Agencies
Joe Gibbs Racing (JGR) is "finalizing a broad-based relationship with IMG that will give the NASCAR team access to the agency's full range of sponsorship sales, measurement and activation capabilities," according to Michael Smith of SPORTSBUSINESS JOURNAL. JGR President J.D. Gibbs said that the agreement "will not preclude the race team from working with other agencies and their clients." It is "uncertain if IMG will eventually embed a salesperson in the Charlotte-based Gibbs Racing headquarters, as it did with the NHRA and typically does with its college clients." There is "not an ownership stake for IMG," and IMG Sports & Entertainment President George Pyne said that ownership is "not in IMG's plans." JGR and IMG did not disclose details of the agreement, but "typically they involve a retainer fee and a percentage of sales." Gibbs: "This adds a lot of value to JGR." He added, "We haven't detailed everything we're going to do together, but we'll brainstorm it and I'm looking forward to seeing where this will go. IMG has done a lot of neat things with ROI for their clients and we're looking to do more for our partners" (SPORTSBUSINESS JOURNAL, 3/23 issue).

NASCAR NOT TURNING A BLIND EYE: JGR Owner Joe Gibbs said NASCAR “has their ear to the ground” in regards to the economic impact on the sport. Gibbs: “They’re talking to the teams. ... Of course, everybody’s No. 1 thought is how can we do this for less? You don’t want to put a burden on sponsors, and certainly in this kind of a business climate, it’s extremely tough.” Gibbs added, “NASCAR works. NASCAR is a great marketing tool. It’s only going to get better. But at the same time, it makes it tough for anybody dealing with corporations … right now.” He noted NASCAR “is focused on how do we save money, how do we make this sport as competitive as we can make it?” (“NASCAR Now,” ESPN2, 3/23).

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