Today, “Silly Season” no longer just applies to NASCAR teams. The scramble to complete the personnel and funding picture now applies to the governing body itself. At least the funding part. This will get interesting as we see whether or not the coming paradigm shift will affect finding sponsors for individual teams. It no doubt will on some level.
With the information we have so far, the notion of a single title sponsor seems to be going away once Monster Energy concludes its current run. On the table is the idea of a handful of NASCAR sponsors at varying tiers. So we’re looking at something like four to six major sponsors, and yet more at lower tiers requiring less of an investment. It’s something I used to see a lot in the advertising game. A kind of a “gold, silver, bronze” system where the more you spend, the more you get.
It’s a sure sign that NASCAR really isn’t what it was for a brief period of time in it’s popularity. To their credit, instead of cursing the wind, or hoping the winds will change, they’re adjusting the sails. Essentially, it’s a matter of getting the perceived value to meet the proposed cost where NASCAR sponsors are concerned. Going forward, as sponsors come and go, replacing a 10 million dollar sponsor is easier than replacing a 20 million dollar sponsor. Put another way, many hands make lighter work.
Names like Monster, Coca-Cola and Mobil are being bandied about for major involvement. Ok, so that will work. The question now is one of how will get new NASCAR sponsors affect individual teams in their pursuit of corporate funding.
There’s a finite number of dollars to go around. If Coca-Cola becomes a top tier sponsor, how will it affect the “Coca-Cola family of drivers?” Sponsorship value is very much predicated on the number of eyeballs drawn to the sport. What would behoove a Monster to be a NASCAR sponsor AND a sponsor of a driver at the same time? You see where this is going?
Most every answer raises with it new questions. The tricky part is that as NASCAR has lost popularity, sponsors have been lost as well. We’re not saying it can’t work, but it may mean one adjustment will be followed by several more.