At a time when other NASCAR sponsors are slashing the number of races they support, FedEx has agreed in principle to an extension with Joe Gibbs Racing that will see the company continue to support 30-plus Sprint Cup races for driver Denny Hamlin, sources familiar with negotiations said. Financial terms of the multiyear deal were not available, but FedEx will see a reduction in the estimated $20-25M it was spending to sponsor the No. 11 car. FedEx signed its initial deal with JGR in '05. Hamlin has driven the FedEx car since he began racing full time in NASCAR’s Cup series in '06. FedEx’s renewal makes it one of only a handful of NASCAR team sponsors paying for more than 30 races. Others include NAPA Auto Parts, Miller Lite, Lowe’s and Menards. The shipping company’s decision to support 30-plus races runs contrary to an '11 trend that saw full-season primary sponsors like the Home Depot, UPS and Aflac cut the number of races they supported (Tripp Mickle, SportsBusiness Journal). Hamlin said, “FedEx knows who they want driving their car. We typically try to do our deals together as a partnership, because that’s what it is between the three of us. As long as FedEx likes me, I know I want to be with Gibbs” (USA TODAY, 6/28). More Hamlin: ''When I first got into this, I didn't realize the importance of sponsors and the value of building a strong relationship with a brand or a company. I sure see it now. You look around and see the struggles teams and drivers have in finding sponsors, or building long-term partnerships, and it makes you realize how fortunate you are to have someone who wants you and wants to have a strong relationship with you.” Meanwhile, the AP's Jenna Fryer noted FedEx on Monday in a “unique” sponsor outing sent Hamlin “to Alaska to learn how to drive a dog sled with the reigning Iditarod champion” (AP, 6/27).
WHO'S GOT NEXT? NASCAR driver Matt Kenseth said that he “has a new deal already in place for 2013, and although he said he's not ready to announce it, all signs point to a move to Joe Gibbs Racing.” The AP’s Fryer noted Kenseth is leaving Roush Fenway Racing at the end of this season, and he said that telling team co-Owner Jack Roush “was one of the toughest conversations he's ever had.” Kenseth said, ''I don't think either one of us expected it, I think both of us expected I would retire driving for him and driving the 17 car'' (AP, 6/27). Kenseth said of his departure, “There's a lot of stuff through the season that's probably led us to this point. There really isn't an inside story about a firing or an argument or really any of that. Things just kind of lined up to maybe try something else in 2013 and beyond that I'm kind of excited about. On the Roush side, they had a chance to move Ricky (Stenhouse Jr.) up … and groom the next driver. There's some things that happened or didn't happen, depending on how you wanted to look at it, through the season that probably got us to this point, but I think that probably stays behind closed doors.” When asked about the frustration of putting together a full sponsorship package, Kenseth said,”Maybe that's a question for Jack or the ownership perspective because they're the ones that have to pay the bills. But for me it didn't affect me. We closed a team down, but I don't think that really hurt our performance. I wouldn't say it had really very much to do with it” (MILWAUKEE JOURNAL SENTINEL, 6/28).
