Sports Business Journal’s Adam Stern reports that FedEx is expected to have roughly the same level of sponsors next season as they did in 2023. FedEx was the listed sponsor for 12 races last season.
FedEx is currently in the middle of the FedEx Drive Initiative, which is expected to cut more than $4 billion in expenses by fiscal year 2025.
A 2024 sponsorship renewal has not been announced. In early June, a deal was reportedly close.
.@FedEx is expected to buy roughly the same number of paint schemes in 2024 from @JoeGibbsRacing as it did this year, when it reduced its primary count down to around a dozen amid broader cost-cutting efforts.
🔲 FedEx began cutting back from sponsoring the full season in 2021. pic.twitter.com/AIKWZrchDE
— Adam Stern (@A_S12) December 30, 2023