Tough Mudder adds A-B, Chipotle 7Up to debut as Winter X Games sponsor H&R Block signs multiyear NBA deal The Lefton Report: Citi Field upgrades Mondogoal targets soccer fans In new firm, Pyne sees legacy Labatt extends deal with USA Hockey Whale of a deal for golfer Dufner The Lefton Report: Daily fantasy Licensing show returns with new exhibits
Upcoming Conferences and Events
SBJ/March 4-10, 2013/Marketing and Sponsorship
Lowe’s extends deal with Hendrick
Published March 4, 2013, Page 9
The company last week announced the agreement in Las Vegas where it was holding a meeting with 1,700 store managers. Financial terms of the deal weren’t available, but industry sources said Lowe’s will pay less than it did during its current contract, which is set to end after this season. Sources valued Lowe’s current deal at $30 million to $35 million a year.
Lowe’s is one of only a handful of full-season primary sponsors that decided to renew its 36-race agreement in the last few years. It joins Geico, Menards, MillerCoors, NAPA and Shell-Pennzoil in doing so.
The decision ensures that the Lowe’s logo will remain on the hood of a car and affiliated with a driver who has won five Sprint Cup titles, two Daytona 500s and never finished lower than sixth in the championship since Lowe’s signed on as a sponsor in 2002.