Is NASCAR sucking sponsors away from drivers?

Are there too many competing interests in NASCAR looking for sponsors? And how do companies decide between sponsoring the sport or sponsoring a team?

Money makes the world go ’round is the old saying, and nowhere is that saying more true than in the wide world of sports. With rosters of dozens to close to a hundred marketing partners and sponsors, sports leagues gather millions of dollars off of corporate deals, a fact that NASCAR has worked hard to use to their advantage in recent years. But in a sport that could be argued to be in flux, could the ambitions of the sanctioning body to gather partners be hurting their teams within?

It’s no secret that many teams across stock car racing have been struggling to find sponsors in recent years. It has even infiltrated some top teams, like Hendrick Motorsports and Furniture Row Racing. Considering the wide consolidation of teams around the garage in the last two years, NASCAR and its leadership have reason to be concerned. Yet, the sport appears more concerned with picking up broader deals.

In the last two years, new sport-wide sponsors that have come on-board include Allegiant Travel, Lily Diabetes, Xfinity, Monster Energy, and The Weather Company. Out of these, only two are confirmed to be sponsoring teams in multiple races in 2018. One has to wonder if NASCAR attempts to negotiate “riders”, or requirements on contracts with companies, that encourage them to sponsor a car, even if just for a handful of races.

The entire idea of using NASCAR’s contingency sponsors and partners to aid drivers came to the forefront with trying to find a spot for Darrell Wallace Jr. at the Cup Series level, the first full-time African-American driver since Wendell Scott. Adam Stern of SportsBusinessDaily reported on Richard Petty Motorsports working closely with the sanctioning body to try to replace outgoing primary partner Smithfield Foods.

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One also has to wonder about the requirements of current and past series sponsors that has limited the partnerships with teams. Often the title sponsors of different series will prevent their competitors from sponsoring cars or teams in that division, such as when Sprint took over and blocked Verizon from coming in to sponsor a Cup car. The same can be said now with Monster Energy, for if 5-Hour Energy decides to leave Furniture Row Racing, they will have to leave the sport altogether.

Ever since these clauses have been written into contracts, sponsors from these sectors have dried up in NASCAR. There are zero cellular communications companies sponsoring teams or drivers currently in stock car racing, even after Sprint’s departure after the 2016 season. And while previously having over half a dozen energy drink sponsors in the sport, NASCAR only has two at this time.

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Something has to give with the current trajectory of NASCAR sponsorships. It is understandable that current partners are paring back in shrinking business sectors, but the large and successful companies are still staying away. Perhaps stock car racing officials need to find a new formula for recruiting in sponsors with their teams.