Invesco’s exchange-traded fund PowerShares QQQ this morning will announce a multiyear deal to become title sponsor of Daytona Int’l Speedway’s NASCAR Xfinity Series race on Feb. 20. The brand, making its first foray into motorsports outside of TV ads during NBC's F1 coverage this year, replaces the Florida DOT as title sponsor. The race will be known as the PowerShares QQQ 300. A source valued the deal in the mid six figures annually.
PowerShares Managing Dir Dan Draper, whose company is heavily involved in tennis, said the brand signed on because it is eyeing increased exposure to consumers and thinks the NASCAR world could bear fruit. Draper, who was introduced to DIS execs via a connection at fellow ISC track Martinsville Speedway, said, “All the improvements and expanding of facilities (going on at Daytona) – we just think it’s an ideal time to get involved in what’s really the Super Bowl weekend for NASCAR. … No matter what metric you look at, NASCAR fans are always the most brand loyal, and for us to get in that family, we’re very excited.”
