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Marketing and Sponsorship

Target To Leave Ganassi's IndyCar Team After This Season, Ending A 27-Year Partnership

Longtime Chip Ganassi Racing sponsor Target "will leave IndyCar at the end of this season," according to Jenna Fryer of the AP. The Minneapolis-based retailer has sponsored the team for 27 years, winning 11 championships and four Indianapolis 500s during that time. The exit comes as Target is "examining all of its marketing platforms" under new Chair & CEO Brian Cornell. Target's relationship with Ganassi is one of the "longest in any racing series, and the retail giant was a key player in helping Ganassi build his organization." Target not only sponsored Ganassi's "first car as a team owner, it eventually became a partner as the Ganassi team grew to one of the top two players in open wheel racing." Target has sponsored Scott Dixon's IndyCar ride for 15 years, and Ganassi said that he expected to "announce a replacement ... within the next two months." Target Senior VP/Merchandising Scott Nygaard said, "It was really difficult decision that we made. ... But the Target brand is about being fresh and new, so we felt like this was the time to make the difficult decision and expand our sports marketing platform." Fryer notes Target also sponsors CGR's No. 42 NASCAR Sprint Cup Series Chevy driven by Kyle Larson. Nygaard said that the company is "excited" for the '17 NASCAR season (AP, 7/27).

SLOW DECREASE IN VISIBILITY: In Indianapolis, Curt Cavin reports hints of Target’s exit "have been coming for years, keyed by last year’s change in appearance for the No. 10 car," as NTT Data sponsored Tony Kanaan's ride. Three of Ganassi’s four Indy cars this season "carry the colors of another corporation." It is "uncertain how much Target has invested in the team this season, in part because of its longstanding practice of offering occasional car liveries to partners such as Energizer, Coca-Cola, Cottonelle and Clorox" (INDYSTAR.com, 7/27). MOTORSPORT.com's David Malsher notes it is "believed that Dixon’s future at Chip Ganassi Racing is unaffected ... and a team spokesperson says it is Chip’s intention to again run four full-time cars next year, as it has since the start of 2011" (MOTORSPORT.com, 7/27). SportsBusiness Journal in '14 examined how the relationship between CGR and Target has evolved over the years.

TWITTER REAX: IndyCar driver Conor Daly: "Sad to see @Target leave but we should all be writing them thank you letters for being such an integral part of @IndyCar for so long." Motorsport.com's Malsher: "Let's be grateful for 27 years of @Target backing @GanassiChip's @IndyCar team received. Kept the faith thru turbulent times in the sport." RaceReviewOnline.com's Eric Smith: "I understand @Target business side of things but I'm pretty angry about this. I will no longer shop there anymore." AP's Fryer: "New CEO's have been bad for racing: Home Depot, Dollar General, One Main, now Target. ... GoDaddy and Aaron's. I'm sure there are more. ... If you don't want to sponsor Scott Dixon, you don't have any interest in being in racing."

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