Keflezighi's Marathon Win Could Boost Skechers Chick-Fil-A Extends Bowl Title Sponsorship Danica Signs Deal With Can-Am Arkansas Unveils New Secondary Logo Marketplace Roundup Northwestern Mutual Nabs Rose Bowl Deal State Farm Rolls Out New Creative For NBA Playoffs George Could Earn Spate Of Marketing Deals Bubba Watson Stars In New Bojangles Ad Nike Lays Off Most Of Its FuelBand Employees
Upcoming Conferences and Events
SBD/June 22, 2011/Marketing and Sponsorship
Red Bull Racing Officials Eye Investors To Keep NASCAR Team On Track In '12
Published June 22, 2011
KEEPING THE DRIVE ALIVE: In Daytona Beach, Godwin Kelly reports if Frye “can't find someone to buy the team, he may try to piece enough sponsorship money together to keep the organization active through 2012.” Frye: "If you have the right investors, that could be the conduit to getting it done" (Daytona Beach NEWS-JOURNAL, 6/22). ESPN.com's Terry Blount said, "We’re talking about some really big-money players here, from what I’ve heard from the Red Bull people, and I can tell you they really are encouraged about this. They believe this is going to get done. It’s not as gloomy as it appears on the surface” ("NASCAR Now," ESPN2, 6/21). Frye added, “We're very keen and encouraged about the future” (AP, 6/21).
CHALLENGES LIE AHEAD: CBSSPORTS.com’s Pete Pistone wrote Frye is a “respected figure in the NASCAR world and the organization’s lack of success has not been for lack of trying.” Should Frye be able to "pull off the hunt for new money and keep the team’s doors open, he’ll next have the challenge of finding sponsors for the two-car stable." Red Bull’s involvement “was the unique combination of a company that both owned and sponsored the team” (CBSSPORTS.com, 6/21). ESPN.com’s Blount wrote it is “never easy when a primary sponsor decides it’s no longer in the best interest of the company to have its logo on your car.” In the case of Red Bull Racing, it is “much worse” because it is the sponsor of the team. Red Bull’s exit is “a stab in the heart, and everyone in NASCAR feels it.” Blount: "Just when things were looking up, a quality organization is in jeopardy. ... If Red Bull can walk away, what else could happen?” (ESPN.com, 6/21).
BEHIND THE EIGHT BALL: In Virginia, Dustin Long notes NASCAR teams have been "searching for sponsorship since the beginning of the year." Long: "While things are a bit better than previous years, it's still a tight market and teams aren't getting what they used to for sponsorship. ... Can Frye find enough to be competitive next year or will he have to accept whatever low-paying sponsors come [his] way and piece together next year?" (HAMPTONROADS.com, 6/21). SPORTING NEWS' Matt Crossman writes, "Give Frye credit for putting a brave face on the situation. But he is a drowning man holding an anchor. Finding a sponsor is hard. Finding an owner is hard. Finding both, and in enough time to be ready for next season? Virtually impossible" (SPORTING NEWS TODAY, 6/22).