Using their sport’s biggest event as a backdrop, a handful of NASCAR teams last weekend jump-started renewal talks with major primary sponsors.
Hendrick Motorsports, Earnhardt Ganassi Racing, Stewart-Haas Racing, Michael Waltrip Racing and Richard Petty Motorsports are among the teams with major deals set to end after this season. They are looking to reverse a trend that emerged last year when sponsors ranging from UPS to Crown Royal and General Mills to Best Buy opted to decrease their primary sponsorship support.
“Renewals are very important in this environment,” said Mike Hargrave, RPM’s executive vice president, sales and marketing. “Daytona is a big event for all of our sponsors and another one of those moments in time when you can connect with your sponsor in a special way.”
Sponsors Up For Renewal
Earnhardt Ganassi Racing: Bass Pro, McDonald’s
Rick Hendrick Motorsports: Mountain Dew, National Guard
Michael Waltrip Racing: NAPA
Stewart-Haas Racing: Office Depot
Richard Petty Motorsports: Stanley
RPM spent much of its energy last week connecting with Stanley Tools, which is up for renewal after the season, at a conference the company held in Orlando. Richard Petty and driver Marcos Ambrose both attended the event.
Earnhardt Ganassi Racing has primary sponsorships set to expire on its No. 1 car with Bass Pro and McDonald’s, but executives declined to speak about them because the team has a policy of not discussing sponsorship agreements.
Rick Hendrick said his executives have already started talking to PepsiCo’s Mountain Dew brand team and the National Guard about renewing their sponsorship of Dale Earnhardt Jr. Hendrick extended Earnhardt’s driver contract late last season and will need the support of Mountain Dew and National Guard to fund the team.
“I feel good about that,” Hendrick said. “Nothing is done until you do it. I signed Jimmie Johnson without a sponsor. I signed Jeff Gordon without a sponsor. The economy was a lot better then, but I’m not concerned about re-upping the guys we have.”
Office Depot already has begun conversations with Stewart-Haas Racing about its primary sponsorship of the No. 14 car driven by Tony Stewart. The company’s sponsorship began in 2009 and evolved from marketing and sales promotions around the NASCAR team to emphasize business-to-business opportunities across the sport.
Ty Norris, Michael Waltrip Racing’s general manager, said the team sat down with NAPA 18 months ago to talk about its sponsorship, up at the end of the year. The team worked with NAPA to make sure its general and regional managers took advantage of assets available through the sponsorship.
“That education really opened some eyes,” Norris said. “What it comes down to now is we have to deliver on the track. It’s time to be competitive and consistent.”
