Before Joe Gibbs agreed to return as coach of the Washington Redskins, he touched base with the CEOs of Home Depot and Interstate Batteries, the primary sponsors of the two NASCAR Nextel Cup teams that he owns.
Gibbs' endorsement relationship with those companies figured significantly in their respective decisions to sponsor his race teams. Both saw Gibbs' return to the NFL as a plus, an opportunity to benefit from the exposure that the move will generate.
"All our sponsors have indicated it's a positive because you get the carryover of all the attention that's going to come from his return to the NFL," said Dean Noble, vice president of business for Joe Gibbs Racing. "He may not be able to do as many speaking appearances because of the time demands of coaching. But there are other opportunities: entertaining at Redskins games, for example."
Gibbs flew via private jet to meet with both CEOs last Tuesday, the day before he announced his return to coaching. Both issued statements of support on Wednesday. The two companies spend upward of $10 million a year each as primary sponsors of Gibbs Racing, according to industry insiders.
"Joe Gibbs is an integral part of the Home Depot family, and I speak for the more than 300,000 company associates in support of his new challenges as coach of the Washington Redskins," said Bob Nardelli, chairman, president and CEO of Home Depot.
Interstate Batteries has sponsored Joe Gibbs Racing since Gibbs founded the team in 1992, the last year that he coached the Redskins. Gibbs and Interstate Chairman Norm Miller are close friends.
"All of us at Interstate are extremely excited for Joe and look forward to the Cowboys-Redskins rivalry heating up again," said Miller, whose company is based in Dallas.
Two other companies that use Gibbs in endorsements, Coca-Cola and MBNA, also have been supportive, Noble said. Gibbs Racing has not found any conflicts between the sponsor rosters of the Redskins and the race team, he said. Among the Redskins' major category sponsors: Coca-Cola, FedEx, Bank of America, Budweiser, Eastman Kodak, Popeyes and Papa John's.
Noble would not discuss whether the sponsor contracts allowed the companies to terminate the deals if Gibbs reduced his involvement in racing.
"Most of what Joe does with our sponsors is really TV commercials and photo shoots and recording radio spots," Noble said. "That can all be done pretty quickly if it's coordinated properly."
Gibbs' exit will mean increased responsibility for his two sons. Gibbs' older son, J.D., will continue as president of the race team. J.D. Gibbs said his brother, Coy, likely will take on an expanded role with the team.
J.D. Gibbs, 34, and Coy Gibbs, 31, each own a 49 percent stake in the team, a structure that the family put in place for tax purposes. Gibbs and his wife, Pat, own 1 percent each but control the voting shares.
