NASCAR announced on Thursday at Wynn Las Vegas a multi-year deal that will make Monster Energy only the third entitlement sponsor (RJ Reynolds/Winston and Sprint/Nextel) in premier series history. The length and terms of the deal were not disclosed, but both parties hailed the partnership as the perfect fit for both brands. "Monster Energy is a brand built on excitement and enthusiasm, qualities that align with NASCAR," said Brian France, NASCAR Chairman and CEO. "This sponsorship position is the most unique in all of sports and entertainment, and we are thrilled to have a partner that will help us further elevate the series. Today's announcement is the culmination of a thorough search, one that resulted in the right partner at this important time in our sport's history."
Monster Energy has existing sponsorships with a number of motorsports sanctioning bodies, athletes and teams, but the NASCAR deal signals the biggest sponsorship step in the company's history. "Monster has built its brand on racing and motorsports, and NASCAR is the pinnacle of motorsports in America," said Mitch Covington, vice president of sports marketing at Monster Beverage Company. "It's American racing; we're an American brand that's a global company, and NASCAR is, too. When the opportunity came along to further associate yourself with a sport like NASCAR, it was the perfect fit for us. ... NASCAR is just a hard-hitting, close-racing, fun property to be associated with."Along with naming rights to NASCAR's top series, Monster Energy will also hold race sponsorship to the NASCAR All-Star Race and become the Official Energy Drink of NASCAR. Monster Energy also said it will continue to sponsor Stewart-Haas Racing's #41 Ford of Kurt Busch.
Thursday's announcement is the culmination of a lengthy and thorough search by NASCAR to find the successor to Sprint, whose entitlement sponsorship will end on December 31, 2016. Steve Phelps, NASCAR executive vice president and chief global sales and marketing officer, said that the sanctioning body spoke with numerous companies throughout the process, ultimately choosing Monster Energy for a number of reasons, not the least of which was its lifestyle culture. "We have the good fortune of finding a brand that we believe works for our sport," Phelps said. "They're going to bring their lifestyle to their activation. ... They're going to bring their brand, their excitement, their energy to this partnership, and the fans are going to be the winners. It's all about engaging the fans and having the fans have unique, fun experiences whether at the race track or through different mediums, through social, digital, content." Phelps said a number of ancillary details will be announced in the coming weeks. Among those still under discussion is the name of the series, the series mark and the championship trophy. Under the agreement, energy drink sponsors already involved in NASCAR may remain in place. Potential sponsors from the energy drink category will not be eligible for future sponsorship if not already involved in the sport. Source: NASCAR Media Press Release (12-1-2016)
UPDATE2: Monster will carry "official energy drink" status and any energy drink not currently sponsoring a driver in Sprint Cup will not be able to sponsor a Cup car, NASCAR spokesman David Higdon said. Higdon would not talk about the details of the grandfather clause and whether 5-Hour Energy, sponsor of Erik Jones at Furniture Row Racing, would be included -- as an energy shot, it is slightly different from an energy drink. 5-Hour Energy, according to the agency that handles its NASCAR marketing, has not gotten details yet from NASCAR on whether it will be affected. Source; NASCAR Media Press Release (12-2-2016
No comments:
Post a Comment