Sunday, January 21, 2018

Talks ongoing between Monster Energy and #NASCAR

Talks ongoing between Monster Energy and #NASCAR

Monster Energy Chair Says Nothing Decided Upon As Yet

Talks ongoing between Monster Energy and #NASCAR

Monster Energy has had several high-level meetings with NASCAR execs in recent weeks regarding the future of its Cup series title sponsorship, according to sources, but no decision has been reached yet about the future beyond 2018. 

Monster Chair & CEO Rodney Sacks discussed the topic Thursday at the company's investor meeting, saying management is "evaluating where we are going forward in 2019 and thereafter."

“We also commenced this last year with a principle NASCAR sponsorship, as I’m sure you’re aware. That was an interesting change for us. I think it afforded us extensive exposure to many more consumers who would not ordinarily have followed the sports we have been active in.” Sacks added “We are continuing our sponsorship this year of NASCAR. We are evaluating where we are with the NASCAR sponsorship going forward in ’19 and thereafter. We’re busy in discussions at the moment with NASCAR and looking at and deciding what will be the best way forward for us as a brand. Certainly this year we’re fully vested and we’re excited about the opportunity for the brand and continuing to establish our presence in NASCAR and with the NASCAR consumer.’’

At least one financial analyst expects Monster to renew the deal. Stifel Financial, which covers the beverage industry, released a note this week that included a section with the header, "NASCAR Sponsorship Renewal Likely Despite Extension."

Talks ongoing between Monster Energy and #NASCAR

Monster Energy became the sponsor of the NASCAR Cup series for the 2017 season, and with a decision looming on whether it would pick up its option to sponsor the series in 2019 and 2020, there was question whether it would also remain a co-sponsor of Kurt Busch’s car.  Fortunately, Monster Energy will continue to sponsor the  reigning Daytona 500 champion. 

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