NASCAR unveils new ‘premier partner’ Cup sponsorship model
The top tier NASCAR touring series will be known as the NASCAR Cup series starting in 2020. Instead of a single sponsor for the series there will be four “premier partners” Busch Beer, Coca-Cola, GEICO and Xfinity.
“This has been a monumental year for our sport, one highlighted by significant changes in our business model to ensure long-term viability and growth,” said Steve Phelps, NASCAR President. “As we begin this new chapter, we are joined by four incredible brands with deep-rooted histories across all levels of our sport. We are honored to have this elite group represent our NASCAR Cup Series for years to come.”
The new model will allow for premium assets for each partner giving them equal presence at each NASCAR Cup Series race as well as the annual NASCAR All-Star race. NASCAR said each partner will have integration on multiple platforms including broadcast, NASCAR digital and social channels, event entitlements, in-market promotions and at-track activations.
“This new model will provide our Premier Partners with a heightened level of integration and visibility across all aspects of our sport,” said Daryl Wolfe, NASCAR executive vice president and chief sales and operations officer. “Each of these partners have demonstrated their commitment to our brand-loyal fan base and we are excited about how these brands will elevate the NASCAR Cup Series.”
NASCAR officials have not made secret that this new model was coming and have discussed it publicly on several occasions. Who those partners would be however remained a mystery, until Thursday.
All four of the new partners have been involved in NASCAR for several years.
Busch Beer returned as an official partner of NASCAR in 2018 and it will continue to sponsor the Busch Pole Award. In addition, Busch Beer will also sponsor a Cup Series event in 2020.
Coca-Cola has been involved with stock car racing for 50 years and became a NASCAR official partner in 1998. Coca-Cola will continue its sponsorship of both NASCAR Troops to the Track and NASCAR Salutes, the portion of the season focused on highlighting industry-wide appreciation of the U.S. Armed Forces.
Coca-Cola will also continue to own race entitlements at Charlotte Motor Speedway and Daytona International Speedway. Additionally, Coca-Cola will become the presenting sponsor of the NASCAR Cup Series regular season championship trophy.
GEICO has been involved in NASCAR for more than a decade and became an official partner earlier this season. GEICO will enhance its existing assets through its premier partnership and become the presenting partner of a season phase.
Comcast’s Xfinity brand entered the sport with a landmark 10-year partner agreement in 2015 as the title sponsor of the NASCAR Xfinity Series.
As a premier partner, Xfinity will maintain its Xfinity Series sponsorship, central to its NASCAR strategy. Xfinity will also sponsor the Championship 4 elimination race of the 2020 NASCAR Cup Series playoffs at Martinsville (Va.) Speedway.
NASCAR had its first entitlement sponsor for the Cup series, Winston, through the RJ Reynolds Tobacco company from 1971 until 2003. Since 2003 the top tier series has been sponsored by NEXTEL, Sprint and until the end of this past season Monster Energy.