NASCAR, Monster Energy announce premier series entitlement partnership
December 1, 2016
Staff Report
NASCAR Wire Service
LAS
VEGAS – NASCAR announced on Thursday at Wynn Las Vegas a multi-year
deal that will make Monster Energy only the third entitlement sponsor 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 No.
41 car.
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
racetrack 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.
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