NASCAR has finalized eight of 12 renewals and added two new partners, a combination that increases its total annual sponsorship revenue by 10 percent in 2011. The sanctioning body has renewed two-thirds of the sponsorship deals due to elapse this year, signing renewals with Toyota, GM, Dodge, Unilever and DirecTV. Three other extensions are agreed to and currently being finalized, said Jim O'Connell, NASCAR vice president of corporate marketing. Tylenol, Tissot and Nicorette all declined to extend their agreements, and the sanctioning body is still negotiating with insurer Aflac, which has one year left on its sponsorship of Roush Fenway's #99 Sprint Cup car driven by Carl Edwards.
The sanctioning body added partnerships with Drive 4COPD, a national public health campaign, and Growth Energy, an American ethanol interest group. NASCAR's marketing partnerships generally range from $2 million to $10 million a year. NASCAR has three key renewals due in 2011 with Mars, Bank of America and UPS. It already has begun negotiations with those partners and is looking to add new partnerships in the timekeeper, consumer electronics and salted snacks categories. It plans to be more aggressive in seeking additional green partnerships, too. Sporting News