Monster Energy Extending NASCAR Deal For At Least One More Year
Monster Energy plans to extend its title sponsorship of NASCAR's Cup series at least through the '19 season, according to a source. The precise length and value of the extension were unavailable, but it has been expected that the renewal will be for either one for two years. The sides originally struck a two-year deal worth around $20M annually for the '17-18 seasons. THE DAILY first reported two weeks ago that the sides were nearing an extension (Adam Stern, Staff Writer). ESPN.com's Bob Pockrass writes the extension is "positive news for NASCAR, which continues to seek ways to reenergize its fan base." The public companies that own tracks reported that admissions were down 2.7% in '17 -- the "10th-consecutive year of falling admissions revenue, albeit a much smaller decline" than the 7.4% in '16 (ESPN.com, 4/10).