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SBD/September 21, 2012/Marketing and SponsorshipPrint All
NASCAR driver Jeff Gordon will sport a Teenage Mutant Ninja Turtles paint scheme on the No. 24 Sprint Cup Series car during the Oct. 13 Bank of America 500 at Charlotte Motor Speedway as part of a "partnership between Gordon, AARP, AARP Foundation and Nickelodeon's Helping and Leading Others program on Drive to End Hunger," according to Brian De Los Santos of CBSSPORTS.com. Gordon said, "To have a cool car like this, I know the kids are going to be excited about it. ... My kids, that's all we DVR, that's all we watch is Nickelodeon programming" (CBSSPORTS.com, 9/20). Gordon noted the partnership includes the launch of a "new PSA that is about battling senior hunger." Gordon’s car will feature ninja turtle Leonardo, his “favorite” turtle ("NASCAR Now," ESPN2, 9/20). YAHOO SPORTS’ Nick Bromberg noted Nickelodeon, “which currently airs the third incarnation of the animated series, is sponsoring the pre-race festivities at the track” (SPORTS.YAHOO.com, 9/20).
RISKY BUSINESS: SI.com’s Cary Estes wrote the "bigger obstacle” in the potential return of suspended NASCAR driver A.J. Allmendinger may not be finding a team but "convincing sponsors to financially support a car driven by Allmendinger.” Most sponsors "flee from controversy,” and Allmendinger's on-track record “certainly does not help his cause -- he is winless in 169 Sprint Cup starts.” Sponsors “might forgive a mistake made by an established winner, but they have no desire to attach their name to a tainted driver who has yet to prove he is worth the gamble” (SI.com, 9/20).
Nike CFO Don Blair said that the company has the “flexibility to split its stock price,” with a plan to “repurchase $8 billion of its stock over the next four years,” according to Allan Brettman of the Portland OREGONIAN. Blair said that Nike “periodically splits its share price to keep the per-share cost affordable.” His comments “came toward the end of an uneventful” annual shareholders' meeting “that lasted about 40 minutes.” Nike President & CEO Mark Parker “reviewed several high points for the company from the past year.” One of the high points included “revenue examples, such as running, which is now a $3.7 billion business -- a 32 percent increase over fiscal 2012, which was 30 percent higher than fiscal 2011.” Converse, which Nike bought out of bankruptcy in '09 when the brand "was earning about $200 million annually, now is a $1.3 billion brand.” Nike lightweight Lunar shoes, launched “four years ago, accounted for $2 billion in sales in the last year.” Parker also noted that two subsidiaries, Umbro and Cole Haan, “are for sale.” Parker said, "It's crucial we concentrate on better serving our core consumers." He also reiterated the company goal “to earn $28 billion to $30 billion by the end of fiscal 2015” (Portland OREGONIAN, 9/21).