When you don't win, and TV ratings drop, sponsors flee
Nationwide Insurance will end its sponsorship of Hendrick Motorsports after this year, using an early out clause in its contract as the company goes through several significant changes to its business structure and executive team. This marks a big blow for HMS, as Nationwide had 20 primaries per year on Alex Bowman’s No. 88, which likely took the deal into the eight figures annually. The Ohio-based company will retain a presence in NASCAR -- albeit a much smaller one -- by continuing to run PSAs featuring Dale Earnhardt Jr. and hosting partners at select races next year.
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