While last week’s confirmation that Target is ending its longtime IndyCar deal with Chip Ganassi Racing came as a blow to not just the team but the entire series, Ganassi Racing’s president is predicting a full recovery.
Target’s 27-year partnership with arguably IndyCar’s strongest team will end after the 2016 season when the retailer departs defending series champion Scott Dixon’s car. Target is believed to spend in the $10 million range annually on the sponsorship, sources said, leaving a void for Ganassi’s current four-car operation to fill before next season.
But team President Steve Lauletta voiced confidence that Ganassi would not have to go down to three cars, and that he may be able to fill the inventory left by Target with one company.
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Target’s 27-year partnership will end after the 2016 season.
Photo by: GETTY IMAGES
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“I feel really good that we’ll have a four-car team next year,” Lauletta said. “I feel like we’re going to be just fine and already have a lot of conversations going on and a lot of interest. You’ve got to remember, with the success that Scott’s had over the years … there’s been many people that have asked about the potential to be involved with the program.”
The Minneapolis-based retailer, whose move to not renew had been expected, now becomes the latest in a series of consumer brands to leave motorsports, such as GoDaddy and, after this season, Dollar General.
But Zak Brown, CEO of CSM Group and executive chairman of Just Marketing International, said he views this as more of the ebb and flow of sponsorship.
“It’s one of the best sponsorships ever, but these long sponsorships eventually do come to an end,” Brown said. “Whether it’s STP with [Richard] Petty or … or DuPont with Jeff Gordon, you hate to see such a great partner after such a period of time leave. But at the end of the day, life goes on and the sport’s much larger than any one individual sponsor.”
In an interview with The Associated Press last week, Scott Nygaard, Target’s senior vice president of merchandising, indicated that the company will remain with Ganassi’s NASCAR Sprint Cup program through its contract, which lasts through 2017.
