SBD/January 5, 2011/Marketing and Sponsorship

Best Buy Re-Ups With RPM, Allmendinger For 24 Sprint Cup Races

Best Buy announced a one-year extension of its sponsorship of Richard Petty Motorsports' No. 43 car driven by A.J. Allmendinger. The deal makes Best Buy the primary sponsor of the car for 24 NASCAR Sprint Cup Series races in '11. The company also will be the associate sponsor of RPM's No. 9 car driven by Marcos Ambrose. The deal extends Best Buy's relationship with Allmendinger into a second year. A Best Buy spokesperson declined to discuss terms of the new deal, but the company's '10 agreement with Allmendinger was valued at $10M. The '11 deal comes a month after RPM was bought by Petty, Medallion Financial's Andrew Murstein and DGB Investments' Doug Bergeron (Tripp Mickle, SportsBusiness Journal). SPORTING NEWS' Reid Spencer noted Best Buy also will serve as Allmendinger’s primary sponsor for two non-points events: the Gatorade Duel 150 qualifying race at Daytona next month "and the Sprint Showdown and/or Sprint All-Star Race at Charlotte in May, depending on eligibility" (SPORTINGNEWS.com, 1/4). Best Buy Senior VP/Marketing Drew Panayiotou in a statement said, "We will be doing some innovative work with Richard Petty Motorsports surrounding our sponsorship, creating new and fun ways to engage the fans." SCENEDAILY.com's Bob Pockrass noted prior to joining RPM in '10, Best Buy "spent three years at Haas CNC Racing, then sponsored Elliott Sadler for two years at Gillett Evernham Motorsports." Meanwhile, Valvoline will sponsor Allmendinger for six additional Sprint Cup races (SCENEDAILY.com, 1/4).
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