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More than ten years ago a sponsorship extension of team that wasn't in position to contend for a championship would hardly raise an eyebrow. Wednesday it was big news.
In today's tough economy even the biggest NASCAR teams seem to be struggling to get a 14-race deal on the side of name driver's car. The announcement of Smithfield Farms three-year extension of Richard Petty Motorsports and driver, Aric Almirola, coupled with increased support (meaning funds) for 29-races isn't the light at the end of the tunnel but it's a good start.
What makes the development extra special is that the company known for pork products was acquired by a Chinese company last year, but, they have left the US side of the deal in the capable hands of CEO Larry Pope. And Mr. Pope and Smithfield love NASCAR.
For the last few years some big name corporate sponsors have left NASCAR and other series leaving all motorsports in the lurch. Whether it was by merger, in the case of STP, which used to be synonymous with the “King” Petty or moving to another sport such as UPS which used to be a full ride for drivers like Dale Jarrett, the lack of sponsorship has put a crimp on the growth of the sport.
The key is a fancy word, activation. That's shorthand for getting the word out, whether by clever television commercials or fan engagement activities on or off the track and more.
The B to B (business-to-business) trend may have actually hurt growth as third party customers and fans may have been left out in the cold as business connections were more important. It's not that B to B doesn't work; it's abandoning the loyal fans that is the problem.
Now comes Mr. Pope and Smithfield farms who says they're “100 per cent” committed to NASCAR. And they are likewise committed to Petty and Almirola. That's because the relationships they've developed over the last few years of the deal.
As Mr. Pope put it “I'm probably more satisfied with Aric in 15th place than Aric Almirola is.” What he means is that the sponsor is sticking with the team. Now, with the extra support, RPM a two car Ford client is in a better position to compete against Roush Fenway Racing, the Hendrick Motorsports, Joe Gibbs Racing and others.
Once upon a time the late Italian racing impresario and car builder, Enzo Ferrari, used to call his suppliers and sponsors “partners.”
NASCAR and all other motorsports here in North America need more sponsors that will view their participation as partnership rather than just a return on investment.
Otherwise there'll be even less sponsorship announcements in the future.
In today's tough economy even the biggest NASCAR teams seem to be struggling to get a 14-race deal on the side of name driver's car. The announcement of Smithfield Farms three-year extension of Richard Petty Motorsports and driver, Aric Almirola, coupled with increased support (meaning funds) for 29-races isn't the light at the end of the tunnel but it's a good start.
What makes the development extra special is that the company known for pork products was acquired by a Chinese company last year, but, they have left the US side of the deal in the capable hands of CEO Larry Pope. And Mr. Pope and Smithfield love NASCAR.
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| Photo: NASCAR |
For the last few years some big name corporate sponsors have left NASCAR and other series leaving all motorsports in the lurch. Whether it was by merger, in the case of STP, which used to be synonymous with the “King” Petty or moving to another sport such as UPS which used to be a full ride for drivers like Dale Jarrett, the lack of sponsorship has put a crimp on the growth of the sport.
The key is a fancy word, activation. That's shorthand for getting the word out, whether by clever television commercials or fan engagement activities on or off the track and more.
The B to B (business-to-business) trend may have actually hurt growth as third party customers and fans may have been left out in the cold as business connections were more important. It's not that B to B doesn't work; it's abandoning the loyal fans that is the problem.
Now comes Mr. Pope and Smithfield farms who says they're “100 per cent” committed to NASCAR. And they are likewise committed to Petty and Almirola. That's because the relationships they've developed over the last few years of the deal.
As Mr. Pope put it “I'm probably more satisfied with Aric in 15th place than Aric Almirola is.” What he means is that the sponsor is sticking with the team. Now, with the extra support, RPM a two car Ford client is in a better position to compete against Roush Fenway Racing, the Hendrick Motorsports, Joe Gibbs Racing and others.
Once upon a time the late Italian racing impresario and car builder, Enzo Ferrari, used to call his suppliers and sponsors “partners.”
NASCAR and all other motorsports here in North America need more sponsors that will view their participation as partnership rather than just a return on investment.
Otherwise there'll be even less sponsorship announcements in the future.