NASCAR sponsorships are available for the Nationwide Series, Sprint Cup, and Craftsman Truck Series, and sponsoring a race vehicle is a significant investment in a team. Sponsorships are key to successful racing because the funds help support year-round efforts. Here are the key features of NASCAR sponsorships.
How Sponsorships Support Racing Teams
NASCAR sponsorships can provide between $350,000 to $500,000 to a team for each race. While that seems like a great deal of money, it only covers a portion of the cost for running in a NASCAR race. The largest expense is fuel before, during, and after the race. Fuel expenses include transporting the race vehicle, pit crew, support crew, and many other people, as well as fuel for testing the race vehicle and running during the actual event. Sponsorships also pay to fly the drivers and owners to races. Another large expense that is covered partially with sponsorships is the driver’s salary. Smaller expenses may include lodging, meals, and other necessities.
Benefits for the Sponsors
Sponsors look for a large return on their investments for NASCAR racing. Not only do they want to support a winner, but they also want to get their brands noticed. Sponsors are given prime real estate on the race vehicle based on the proportion of their investment. Larger sponsorships mean having larger and more predominant logos on the race vehicle, and the biggest sponsors choose the colors of the vehicle. If you want to know the biggest sponsor of a race vehicle, look on the hood. Having a logo on the hood can cost up to $1.5 million per season. NASCAR sponsorship also comes with the right to use the driver’s likeness for advertising.
Sponsorship Benefits Off the Track
Large NASCAR sponsorships translate into opportunities to invite drivers to corporate events, such as employee picnics or annual recognition ceremonies. These types of benefits are negotiated ahead of time, and the drive has the right to agree to the terms of the sponsorship. NASCAR sponsorship for a race team may include other perks, such as VIP tickets, booths at racetracks, pit passes, and even unlimited food at the venue. The ultimate payoff is to have your business associated with NASCAR, and this provides the opportunity to reach the millions of loyal NASCAR fans around the world.