UPDATE:
.@Lowes says it will not reverse its decision to end its deal with @TeamHendrick after this year.
➖ With an executive team at Lowe's that had changed extensively since earlier this year, Hendrick had re-engaged Lowe's on the possibility, but the sides didn't reach an agreement. pic.twitter.com/Uweyz1uRtP
— Adam Stern (@A_S12) September 21, 2018
Original post 9-14-2018: Hendrick Motorsports is continuing to try to find sponsorship for its No. 48 Chevy driven by Jimmie Johnson next season, and there are signs emerging that the team has a couple worthwhile leads that are developing.
Lowe’s announced earlier this year that it would leave HMS and NASCAR as a sport after this season, but sources said that HMS has re-engaged Lowe’s on the possibility of returning next year on a partial basis. Sources said the move to re-engage Lowe’s came, at least in part, because the home-improvement retailer has seen a host of exec changes in recent months in areas including marketing. Some of the new execs are said to be more favorable to sports marketing or motorsports than their predecessors.
It is unclear how far along talks are with Lowe’s, which is represented by GMR Marketing, or whether it will lead to any sponsorship.
Lowe’s expiring, season-long deal with HMS was thought to be worth at least $20M, but HMS’ rates for ’19 were unclear. Meanwhile, sources said that HMS has at least one other separate lead for the No. 48 that is far enough along that it involved a meeting this week at HMS HQ.