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NASCAR’s big names take time to find right sponsor
DAYTONA BEACH, FLA. (AP) - For sale! Made-for-TV premium ad space on the hood of the car of NASCAR’s most popular driver.
The perfect corporate sponsorship has yet to materialize for Earnhardt and team owner Rick Hendrick. Both are preaching patience, believing the right deal will eventually fall into place, and not a dire sign that big business has soured on NASCAR.
“We’re just looking for the right corporations that are a good fit for us, that are long-term, that want to be in the sport for a while,” Earnhardt said. “You don’t just take the first guy that comes along.”
Earnhardt is one of the lucky drivers that can afford to be picky in the race for cash.
But Hendrick is not alone when it comes to teams still trying to make all the sponsor pieces fit for a season that opens with Sunday’s Daytona 500. Stewart-Haas Racing _ owned and operated by three-time Cup champion Tony Stewart _ has about 20 races spread out over three cars that need a top sponsor.
Not even NASCAR’s biggest stars are immune from the economic pinch that plagues a sport dependent on Fortune 500 dollars.
Earnhardt’s sponsorship dried up when Pepsi, through Diet Mountain Dew and Amp, sliced its sponsorship from 20 races to five in 2013. The National Guard did bolster its support of the No. 88, going from 16 to 20 races. Earnhardt, who’s made the Chase for the Sprint Cup championship each of the last two seasons, is somewhat hindered in finding the right fit because of conflicts with committed corporate sponsors. For example, his Pepsi deal is the reason he ditched Budweiser when he signed with Hendrick Motorsports for the 2008 season.
Earnhardt is one of the superstar faces of NASCAR. Even as the wins have dried up, he was still voted NASCAR’s most popular driver for each of the last 10 years. He can’t be associated with any fleeting or cheesy sponsors.
“You have to think about what’s good for his image,” Hendrick said. “Some of that has stopped us. There’s been a lot of interest.”
Hendrick announced at Daytona he locked up Lowe's for five-time champ Jimmie Johnson’s No. 48 Chevy for 2014. Lowe's has sponsored Johnson for the first 399 races of his Cup career. With a new paint scheme, Lowe's again will be on the side of the car for start No. 400 in the Daytona 500.
Lowe's, in fact, is likely one of the biggest sponsor spenders in NASCAR. While most numbers are never publicly announced, NASCAR insiders say it costs about $18 million to $20 million a year to fund an elite driver’s car for a full season. Some of the low-budget teams try and get by on around $5 million.
“You can have the best financed team in the series, but if they don’t know how to apply it, it doesn’t matter,” Stewart said. “There’s teams that have taken less money and gotten better results out of it because they know how to use the money, where to put it.”
By Brahma Chellaney
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