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18th
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Nationwide, the title sponsor of NASCAR's junior series will not be renewing as series sponsor after 2014.
“It's a natural evolution for Nationwide Insurance to move our marketing investment to the NASCAR Sprint Cup Series, and we'll continue to put tremendous effort behind all of our NASCAR marketing platforms in the years to come,” said Nationwide Chief Marketing Officer Matt Jauchius in a news release.
The Sports Business Daily said that the deal, which dates back to 2007, had been worth in the area of $8USD million.
One of the stated reasons was to get exposure relating to NASCAR's premier Sprint Cup Series.
Jauchius said told the SBD "Being a series sponsor was the right thing at that particular time but we see Sundays (for Cup races) as the next step. You'll see us lean into this even more at the Cup level. ... I will spend more money in 2014 and 2015 (in NASCAR) by shifting assets around a bit." NASCAR plans to begin searching for a new title sponsor immediately.”
Thus it's possible that there will be no net loss in NASCAR spending by the Insurance giant, but, a shift to teams. Currently Nationwide has a partial sponsorship deal with Roush Fenway Racing on rookie, Ricky Stenhouse, Jr.'s Sprint Cup Ford Fusion.
NASCAR and Nationwide Insurance have finalized a new agreement to extend Nationwide's position as the official auto, home, life and business insurance partner of NASCAR through 2017. As part of the new contract, Nationwide Insurance also will become the presenting sponsor of the Betty Jane France Humanitarian Award.
“It's a natural evolution for Nationwide Insurance to move our marketing investment to the NASCAR Sprint Cup Series, and we'll continue to put tremendous effort behind all of our NASCAR marketing platforms in the years to come,” said Nationwide Chief Marketing Officer Matt Jauchius in a news release.
The Sports Business Daily said that the deal, which dates back to 2007, had been worth in the area of $8USD million.
One of the stated reasons was to get exposure relating to NASCAR's premier Sprint Cup Series.
Jauchius said told the SBD "Being a series sponsor was the right thing at that particular time but we see Sundays (for Cup races) as the next step. You'll see us lean into this even more at the Cup level. ... I will spend more money in 2014 and 2015 (in NASCAR) by shifting assets around a bit." NASCAR plans to begin searching for a new title sponsor immediately.”
Thus it's possible that there will be no net loss in NASCAR spending by the Insurance giant, but, a shift to teams. Currently Nationwide has a partial sponsorship deal with Roush Fenway Racing on rookie, Ricky Stenhouse, Jr.'s Sprint Cup Ford Fusion.
NASCAR and Nationwide Insurance have finalized a new agreement to extend Nationwide's position as the official auto, home, life and business insurance partner of NASCAR through 2017. As part of the new contract, Nationwide Insurance also will become the presenting sponsor of the Betty Jane France Humanitarian Award.