Any NASCAR stock car unmistakably bears the names and logos of an array of companies that serve as the sponsors for the team. On that note, there is a certain advantage that these sponsors receive out of funding these rides.
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Whenever Toyota does a national ad to promote its brand, it naturally uses one of the cars that it sponsors. Joe Gibbs Racing President Dave Alpern stated that whenever that happens, the other brands that are on the car’s body get a free commercial ride.
“So whether it’s Bass Pro Shops or Stanley, or maybe it’s FedEx or Monster,” said Alpern, “when Toyota does a commercial and includes those race cars, those brands get a free ride with their partner Toyota.”
The same happens when a particular sponsor signs up for an advertisement with its driver. “It happens when Coca-Cola might do an ad with Denny Hamlin, the brands that are on Denny’s uniform get a free ride as a part of that,” Alpern explained.
Needless to say, sponsorships are a must in the competitive arena of NASCAR. A team might own several charters and yet run out of business if it fails to acquire sponsorships from reliable companies. But why are they so crucial for a NASCAR team?
This is why NASCAR teams are so reliant on sponsorships
In an interview, Alpern stated that while having sponsorships is a good-to-have in other sports, in NASCAR, it is a must-have. Running a car full-time in NASCAR requires millions. Clearly, the team owner alone cannot bear that expense.
On that note, Alpern admitted that to compete and win races, they have to have corporate sponsorships. Moreover, a lion-share of the team’s revenues comes from these sponsorships.
Additionally, the brand that sponsors a driver ultimately becomes the identity of the team as a whole. Whenever one Googles Denny Hamlin, they see a picture of the veteran racer in a FedEx suit. Whenever one searches for Martin Truex Jr on the internet, they see a picture of the 2017 Cup champion in a Bass Pro Shops firesuit.
Lastly, funding a NASCAR team benefits the companies as well. Alpern stated that NASCAR has the second-largest number of audience (the first being the NFL). Hence, the companies have a very long season throughout the year to promote their brand through every race and TV commercials.
