In a new Morning Consult survey, 42 percent of Black adults said they are more interested in NASCAR than they were previously based on the entry of a Jordan-owned car driven by Wallace, including 24 percent who said they are “much more interested.” In addition, 1 in 3 Black respondents said they are more likely to attend a NASCAR race after COVID-19 is no longer a concern.
Among respondents with a very favorable opinion of Jordan Brand, a group that tends to be young and racially diverse, 62 percent said they are more interested in NASCAR based on the new team, including 40 percent who said they’re “much more” interested.
While it is unclear to what extent Nike and Jordan Brand will work with 23XI Racing, marketers believe their involvement will present unparalleled opportunities in terms of licensed merchandise and provide the team with an added cool factor.
Wallace’s rise in prominence this year has taken the sport by storm. Prior to the start of the 2020 NASCAR season, 1 in 3 self-identified NASCAR fans polled by Morning Consult said they had never heard of Wallace, who was entering his third year behind the wheel of the No. 43 Chevrolet for Richard Petty Motorsports. Eight months later, the Sept. 30-Oct. 1 poll indicated Wallace is stock car racing’s most well-known driver among U.S. adults.
Team-level deals to sponsor the 23XI race team, including primary sponsorships for the Wallace-driven car, are expected to be among the most expensive in the sport. One marketing executive estimated that a primary sponsorship for Wallace’s No. 43 car with Richard Petty Motorsports cost approximately $250,000 per race and expects 23XI will command a much higher fee.
See much more at Morning Consult.