Picturesque ISM Raceway’s NASCAR Cup Series event this fall will be the Bluegreen Vacations 500.Getty images
NASCAR and International Speedway Corp. have struck deals with Bluegreen Vacations in a pact that fills a new category and is another example of the integrated packages the sanctioning body is assembling these days.
The multiyear deal will be announced this week, and sources said it was in the low seven figures annually. Daryl Wolfe, NASCAR’s executive vice president and chief sales and partnership officer, and Famous Rhodes, Bluegreen’s executive vice president and chief marketing officer, both declined to comment on financials.
On top of becoming the official vacation ownership provider of NASCAR and an official partner of ISC, Bluegreen also will become the title sponsor of the 500-kilometer Monster Energy NASCAR Cup Series race at ISM Raceway this November, as the race will be called the Bluegreen Vacations 500. The race previously was sponsored by Can-Am. The company gets at-track activation rights at ISC’s 13 tracks and will run sweepstakes to offer exclusive NASCAR experiences for its members.
The deal took about four to five months to put together, and no agencies were involved in the negotiations.
The vacation ownership company will use the assets to market and sell its timeshares to NASCAR fans. The Florida-based company — majority owned by BBX Capital — says it has about 217,000 member owners who have access to 69 Club and Club Associate resorts and to more than 11,000 hotels and other resorts. Many of the resorts are in the Southeast, which the company feels aligns well with NASCAR’s fan base.
“There’s been an evolution of consumer expectations over the years — travel used to be about the hotel and destination, now what they’re pushing for is experiences,” Rhodes said. “NASCAR has embraced this shift in consumer demand … and what they’ve done for us is provide exclusive experiences for our owners from pace car rides to behind-the-scenes garage tours.”
The company also has started doing radio advertising with ISC’s Motor Racing Network and Speedway Motorsports Inc.’s Performance Racing Network. Rhodes said Bluegreen is open to the possibility of striking a team deal but hasn’t yet.
