As NASCAR’s Chase for the Sprint Cup playoffs head toward the championship race next month in Homestead, the sanctioning body is in a race of its own – to find a replacement for series title sponsor Sprint. The Sports Business Journal reported Monday that NASCAR chief operating officer Brent Dewar says the sanctioning body is talking with multiple companies, and that those talks are at ‘an advanced stage.’ ‘We know how to handle complexity and meet deadlines, and this is no different,’ Dewar told SBJ. Yet Dewar said there is no rush to fill the void. The 2017 season begins in early February. ‘It’s much more important we have the right partner than to meet a self-imposed deadline,’ Dewar told the paper.(Sporting News)
AND: Not having a new sponsor named yet has impacted at least one NASCAR partner, Lionel NASCAR Collectibles. Instead of having the new entitlement sponsor emblazoned on 2017 diecasts ready for the Daytona 500, the company will have a NASCAR logo instead, [SBJ’s Adam] Stern noted.(NBC Sports)(11-1-2016)
UPDATE NASCAR had hoped to have a sponsor for its premier series signed by now, and there are plenty of nervous people in the garage awaiting any news. If NASCAR chief operating officer Brent Dewar is feeling the heat, he isn’t showing it. He said NASCAR has talked to several companies, and negotiations continue as it seeks to replace Sprint after its 13-year run. NASCAR has known since December 2014 that Sprint would leave after this year. ‘We are in advanced discussions still with a number of companies for the entitlement of our series,’ Dewar said Friday. ‘I’ve got nothing [final] to report today. We’re working hard on it.’ Dewar wouldn’t talk about any companies NASCAR has entered that advanced stage of discussions. When asked about a timeline, Dewar said it is important to find the right partner. ‘Some of the firms we’re talking to can move pretty fast,’ Dewar said. ‘Some maybe not as fast.’ Dewar said there is time to get the deal done and begin activating the sponsorship with the Daytona 500 in February. He said companies have various deadlines to make decisions and it is just the nature of the business that negotiations have stretched into November. Another issue that NASCAR must battle when finding a sponsor is the decrease in attendance and television ratings. The public companies say ticket revenue compared to last year has dropped 9.2 percent since the Daytona 500. Eight of the past nine Cup races have seen 10 percent drops in television ratings, and NASCAR has seen an overall seven percent drop for the year.(ESPN.com)
