NASCAR is loosing his second major telecommunication partner in two years with Verizon's departure to the IndyCar series.
The company will shirft its $12-$17M sponsorship to the Penske Racing's No. 12 team of Will Power, in the popular openwheel series. This departure is, in a way, a tribute to NASCAR's impressive protection of it's title partner, Sprint, interests. "This is another leading indicator that everyone needs to stay focused and find better return for sponsors because at the end of the day, if there were enough return, [Verizon] would be here in spades," said Dan Richlen, VP of Wunderman. If NASCAR has proven happy to let the sponsors share the spotlights, it has also proven extremely protective of its title partners, the Nationwide insurance Group and Sprint telecommuncation company. "That's the model we've had for a long time, and it's a successful model," NASCAR chief marketer Steve Phelps said. "That's a sacrifice we understand we need to make, and one that allows us to fund the sport." "There were a lot of limitations that made it apparent business could be driven more effectively elsewhere," summed up Jon Flack, president and COO of Just Marketing International, the marketing agency that worked with Verizon in NASCAR.
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