St. Louis-based software company World Wide Technology has renewed its track naming rights deal with World Wide Technology Raceway for another five years, extending a deal that started in 2019 toward the end of this decade. Terms were not released, but the deal is worth well into the seven figures in total, according to a person familiar with the matter, and it includes financial support of the Confluence musical festival the venue holds around its annual NASCAR weekend. The venue, which sits on 700 acres, got its first Cup Series race in 2022 and sold that event out plus the second edition in 2023. The deal goes through 2029 with the track, which also hosts an annual IndyCar and NHRA event weekend among other shows.
Between the annual race weekend and a new officially licensed restaurant it’s opening in the St. Louis Lambert International Airport this summer, the market has risen in importance for NASCAR in recent years. The extension announcement was made today as part of an event the track held with senior NASCAR execs and around 200 local business leaders from St. Louis, with President Steve Phelps, CMO Pete Jung, VP/Diversity Brandon Thompson, VP & Chief of Staff Nicole Haves and Toyota Racing Marketing Manager Mike Pricer among those in attendance. The NASCAR execs presented about the state of the sport. World Wide Technology says it has $20B in annual revenue, and it’s a major supporter of sports in the city, also having deals with the Blues and the Cardinals, while CEO Jim Kavanaugh is part of St. Louis City SC’s ownership group.
Meanwhile, the track has hired NASCAR team owner Tad Geschickter’s Brand Activation Maximizer to help the venue in sponsorship deals, including getting retail placement at grocery stores with brands that partner with the facility. While the venue is only about 10 minutes from St. Louis, it’s technically located in Madison, Ill.
