NASCAR hopes to roll out the details of its new three-tier sponsorship model later this season.
NASCAR is setting up a model that will replace the long-held title sponsorship system for its premier series, with the debut set for 2020. Monster Energy is in its final year as premier series title sponsor.
Daryl Wolfe, NASCAR’s executive vice president and chief sales and partnership officer, told Sports Business Journal he is “excited about the progress and about making some announcements in the coming months.”
NASCAR is seeking four to six premier partners at around $20 million annually apiece. Industry sources say brands that could be among the candidates for a top-tier slot include Anheuser-Busch, Coca-Cola and Geico, the latter of which is being named a new official partner this week.
“Optimally, based on how we believe these conversations are going, later on this year we would like to think about the sequencing of how we roll out some of these announcements,” Wolfe said.
NASCAR is believed to be retaining a title sponsor in the Xfinity and Gander Outdoors Truck Series at least through the duration of those two respective deals, which run for several years.
