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NASCAR Seeks New Title Sponsor

Nascar

NASCAR is searching for a new title sponsor for its second-tier series following Xfinity's departure.

Quick read: NASCAR is actively seeking a new title sponsor for its second-tier series as Xfinity confirmed it will not renew its sponsorship. Engaging Klutch Sports Group to assist, NASCAR aims to secure a deal worth $15 million per year. This includes a $10 million rights fee and additional marketing costs, reflecting the organization’s focus on robust sponsorship support.

Transition from Xfinity Sponsorship

NASCAR is in the process of identifying a new title sponsor for its second-tier series, as Comcast's Xfinity is set to conclude its sponsorship at the end of the current season. Having sponsored the series since 2015, Xfinity has confirmed that it will not renew its deal, although it will maintain its status as a premier partner of NASCAR with a continued commitment made earlier this year.

Klutch Sports Group's Role

To aid in the search for a new sponsor, NASCAR has appointed Klutch Sports Group as its exclusive sales agency. Klutch Sports Group is well-known for its representation of high-profile athletes across various sports, particularly in the NBA. This collaboration aims to capitalize on Klutch's expansive network to secure a suitable replacement for Xfinity's partnership.

Financial Expectations

NASCAR is targeting a sponsorship deal worth $15 million annually. This proposed financial structure includes a direct rights fee of $10 million, along with an additional mid seven-figure investment for marketing and activation initiatives. This comprehensive financial strategy indicates NASCAR's aim to attract a sponsor that can enhance support for the league.

Current Sponsorship Landscape

Currently, NASCAR's Truck Series is sponsored by Stanley Black & Decker under its Craftsman brand, illustrating the league’s efforts to establish substantial partnerships across its various series. As it looks ahead, securing a new title sponsor remains a top priority for NASCAR.

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Sven Jorgensen Published 1 week ago.