NASCAR has tapped IMG "to handle global media distribution through 2024," according to Tripp Mickle of SPORTSBUSINESS JOURNAL. IMG "beat out eight to 10 competing bidders for the business, including Lagardère, MP & Silva and ESPN, which has managed NASCAR’s overseas TV distribution" since '06. Financial terms of IMG’s 10-year deal were not available, but sources familiar with the agreement said that IMG will pay an annual rights guarantee and share sales revenue with NASCAR after it recoups its upfront investment.
 |
|
NASCAR’s interest in building its international fan base is part of what attracted IMG to the deal.
Photo by: GETTY IMAGES
|
The decision to tap IMG to manage sales for the next 10 years "represents a strategic shift at NASCAR." The sport historically "has focused on the U.S. market." NASCAR COO Brent Dewar "wants to begin expanding the sport’s fan base overseas and broadening interest in the sport internationally." Dewar said, "We’re the No. 1 motorsport in the United States and we dream of being the No. 1 motorsports brand [in the world]. It’s a lofty ambition. The world is a big place but it gets smaller every day. In that way, the deal is immeasurable in terms of the opportunity" (SPORTSBUSINESS JOURNAL, 8/4 issue).
