NASCAR tries to salvage failed merchandising After the France family saw its merchandising business it had formed with SMI pretty much go down the tubes, NASCAR has formed the NASCAR Teams Licensing Trust - a centralized licensing agency for the sport’s biggest teams and most high-profile drivers.
The organization is composed of 11 teams and more than 30 drivers, and is open to any team that decides to join it. NASCAR Teams Licensing will initially explore opportunities in four key categories: apparel, collectable die-cast, toys and trackside retail.
“The complexity and expertise required within the intellectual property management and operations has increased exponentially over the years as NASCAR has grown and expanded globally,” said Brian France, chairman and CEO of NASCAR.
“By working together with our teams and their licensing professionals, the Licensing Trust creates a new opportunity for licensees, retailers and sponsors to immediately benefit, and keep the emphasis on, what makes this sport run – our loyal and passionate fans.”
“This new structure will make it more attractive to do business with the teams of NASCAR,” added Joe Gibbs, owner of Joe Gibbs Racing. “The result will be a win-win for our sponsors and our fans.”
The trust will be managed by a board of directors made up of representatives of NASCAR and the 11 participating teams. NASCAR's Charlotte-based licensing division will serve as the on-point representatives for the organization.
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