Could Comcast’s Xfinity be the next title sponsor of NASCAR’s secondary developmental series in 2015 and beyond? According to a report from Sports Business Journal’s Tripp Mickle, the contract negotiations between the cable TV, internet and phone provider, and NASCAR are progressing rapidly. The potential deal would lock-in Xfinity to a five or six year contract, worth over $100 million, and paying NASCAR around $9 million in both rights fees, as well as media and brand activation in the first year, according to the report.
NASCAR has spent the last year on the hunt for a new title sponsor for the premier developmental series in stock car racing, as Nationwide Insurance decided to exit the sponsorship after seven years. Nationwide instead will focus their efforts and marketing dollars on sponsorships with drivers Dale Earnhardt, Jr. and Ricky Stenhouse, Jr. in the NASCAR Sprint Cup Series, as well as retain the rights to the “official insurance provider of NASCAR” next season. NASCAR told Sports Business Journal, “We anticipate NASCAR will soon be aligned with an outstanding brand that will help take this series to new heights, but out of respect for our current partner and the process, we will not comment on speculation about any potential replacements until there actually is one.”
Comcast declined any statement on the potential deal or negotiations.
If the deal is completed, this would be the first national sponsorship program for Comcast’s Xfinity brand.
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