Geico is planning to leave Germain Racing after this season as part of a broader shift away from team sponsorship in motorsports, and the NASCAR team owner is in talks to sell as a result. Geico has had the full season deal, likely around $10M annually, for the one-car outfit -- the No. 13 Chevrolet driven by Ty Dillon -- for several years. While Geico has yet to comment, Germain confirmed in a statement that that it was “notified that Geico will not return in 2021, and without a signed sponsorship contract, Bob Germain is exploring conversations for a potential sale.” Fox Sports first reported that Geico was leaving. The team also has an alliance with Richard Childress Racing. Sources say that excepted bidders or interested groups for some or all of the assets in Germain include driver Denny Hamlin, who is looking at getting involved in team ownership after nearly becoming a minority investor in Richard Petty Motorsports; The Money Team Racing, which is associated with Floyd Mayweather; and former driver Justin Marks, who first revealed to THE DAILY last month that he is starting a new Cup team. If Germain's charter is sold to Hamlin's group, that could create a new arrangement that will allow Bubba Wallace to find his landing spot for next season, as both drivers are represented by ProSport Management agent Rod Moskowitz, who sources say is helping pull all the deals together.
DOMINO EFFECT: Geico also is dropping a sponsorship with a team in the Monster Energy Supercross dirt bike series, underscoring that the NASCAR move is part of a more sweeping change. And while Geico will retain its NASCAR league-level premier partnership that started this season, its moves are a negative development for NASCAR, which was hoping that major team sponsors who became premier partners this year would continue backing teams. The other three premier partners are Xfinity, which has no team relationships; Coca-Cola which has several minor team relationships; and Busch beer, which has a major and continuing team sponsorship with Stewart-Haas Racing’s No. 4 driven by Kevin Harvick. Geico works with Scout Sports & Entertainment on its sports sponsorships, and it also has long worked with Player Management International President Doug Barnette on its motorsport sponsorships.
