Xfinity Nearing $100M Deal For Title Sponsorship Of NASCAR's Secondary Series
Comcast's Xfinity service is "considering a five- to six-year deal" valued at more than $100M to title sponsor NASCAR's second-level series, according to a source cited by Tripp Mickle of SPORTSBUSINESS JOURNAL. The potential agreement would see Comcast pay approximately $9M in rights fees and $9M in media and activation "in its first year as title sponsor." Its annual spend "would increase in subsequent years." Fox and Comcast-owned NBC are "slated to split television rights to the series" from '15-24. Sources said that Fox "wants assurances that Comcast will spend equally on advertising across both of the series’ rights holders ... and not favor its own company, NBC." Mickle reports the deal "should close and be announced in the coming weeks," provided other category issues are "resolved." The deal would "represent an increase" from the approximately $10M in rights fees Nationwide "spent for its title sponsorship of the series." Sources said that the deal "was driven at Comcast" by Senior Dir of Sports Brand Strategy Matt Lederer. He worked at Nextel when the company signed its deal in '03 to become title sponsor of the NASCAR Cup Series and "was familiar with the benefits of a NASCAR title sponsorship." Xfinity’s NASCAR deal "would be the first national sports sponsorship Comcast has signed for its cable, broadband and phone division" (SPORTSBUSINESS JOURNAL, 8/18 issue).