NASCAR’s Netflix special docu-series Full Speed has now streamed for over a month on the platform and found profound success. With reports emerging that the racing promotion spent over $5 million on the production of the show, veteran spotter Brett Griffin expressed his delight at the prospect and praised NASCAR for stepping forward in these trying times of sponsor “inactiveness”.
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Once the man in the sky for icons like Clint Bowyer and Elliott Sadler, Griffin is currently the co-host of the “Door Bumper Clear” podcast. He wrote on X in light of the report from Sports Business Journal that the financial inputs from the sanctioning body could head towards a larger figure in 2025. He believes that this is particularly beneficial considering that the days of sponsors being entirely involved with the sport are now gone.
He wrote, “Sponsors are NOT activating at the level they once were. UPS with Dale Jarrett. Bud with Dale Jr. Home Depot. M&M’s. Lowe’s. Sprint. Those days are gone. Glad the sanctioning body is stepping up.”
NASCAR’s issues with sponsorship are directly related to its dwindling viewership and fandom. With teams and the promotion moving on various fronts, including Full Speed, to throw energy into expanding the sports’ boundaries and reignite the passion for stock car racing, sponsors could potentially make headway into the tracks again.
NASCAR’s never-ending sponsorship problem and reasons for struggle
NASCAR has been a staple in American sports for over 70 years. There was a time when stock car racing attracted more money from Fortune 500 companies than any other sport did. However, moves like transitioning away from its brand identity to attract a younger audience resulted in losing a huge section of the core fanbase, and subsequently sponsors.
A former NASCAR executive puts it to NBC, “NASCAR seems to have run away from its southern roots. In doing that, it’s damaged its brand identity.” The racing format has also been altered a lot over the last two decades, earning the displeasure of fans. For teams, particularly the low-funded ones, this meant a big blow since the better half of their revenue came from sponsors.
Some of the biggest names that quit NASCAR after long-term associations were Target (2017) and Lowe (2019). Despite the adversity that has marred the sport, moves of late are expected to come to fruition soon. The $7.7 billion media deal was a massive step up on that front and with other initiatives like Full Speed, Project91, and Garage56, NASCAR will be reigning back high in no time.
