Welcome back to another edition of NASCAR SPONSOR FAIL. This week, we’ll be taking a look at Citifinancial’s involvement in NASCAR. Just as a reminder: Our comments are in no way aimed at the drivers or teams. The teams are grateful for and desperately need every sponsor dollar that comes in, but some comapnies should think twice before jumping into the NASCAR cash auger.
Should a company that has asked the government to shoulder $306 billion in "troubled assets" be sponsoring a Nationwide car? Umm… NO. Citigroup received not one, but TWO bailouts in 2008 and yet they still continue to dump funds into racing. We’d be willing to bet there were Citigroup executives in the skyboxes at nearly every race who flew in on private jets. However, we have to give them some credit, as they did choose to invest in the more thrifty Nationwide series instead of Sprint Cup – probably saves them a cool mil every year. EPIC FAIL.