The Monster Energy and NASCAR announced Tuesday April 10, 2018 that they will be extending their two-year partnership deal into 2019. However, according to NASCAR COO Steve Phelps it is “highly unlikely” the sponsors will continue the deal after that.
— NASCAR (@NASCAR) April 10, 2018
NASCAR is planning to change their sponsorship model altogether. The company has reportedly discussed putting together a new model to make navigation easier for sponsors. This could include bundling top sponsorships with television partners and advertising buys.
The discussion is on-going, and results could apparently be “radically different, somewhat different or maybe minimally different” says NASCAR Senior Vice President Daryl Wolfe.
Both parties have agreed that the partnership has been very productive on both ends. Monster was looking to tap into NASCAR’s older fan base while NASCAR hoped that Monster would bring in a younger crowd.
“Monster Energy successfully utilized our sport as a platform to elevate its brand and drive business, while introducing NASCAR to new audiences,” said Phelps. “NASCAR and Monster Energy enjoyed a productive first year and both parties have benefited significantly from the partnership.”
— Monster Energy (@MonsterEnergy) April 5, 2018
This Monster/NASCAR relationship came after Sprint decided to step away from the title in 2015. Previous sponsors of NASCAR title series have included Nextel, who later merged with Sprint, and R.J. Reynolds Tobacco Co.
Monster Energy’s adventurous brand is already well established in the motor sport department. They currently also sponsor Monster Jam, motocross, and drifting in addition to MMA and professional bull riding.
Meanwhile this past Sunday, Kyle Busch took home first place in the Monster Energy Cup Series at Texas Motor Speedway with Kevin Harvick finishing just behind him in second place. The series will continue this Sunday April 15 in Bristol, Tennessee at the Food City 500.