Insurance company set to take over as NASCAR Busch Series sponsor

Friday, December 14, 2007

After 26 years of exciting fans with fast-paced action, the NASCAR Busch Series will undergo a major sponsorship change, starting in 2008.

Nationwide Insurance is set to take over the sponsorship responsiblities, replacing Anheuser-Busch in accordance with NASCAR executive efforts to create a more family friendly atmosphere and impression on the sport.

Anheuser-Busch will reportedly be moving on to "realign its marketing objectives", thus ending all ties with the nation's third highest rated regular season sports series on cable televsion. This move marks the end of a 26 year dynasty in NASCAR racing led by the brewing giant, and marks a fresh start for the series.

Nationwide Insurance has already had a partnership with Speedway Motorsports for the past eight years, providing the well-known "On Your Side" information guides, transportation services and fan pit stops, and has now signed a seven year contract to sponsor the No. 2 series in NASCAR racing.

"Nationwide is excited about this long-term partnership and recognizes that NASCAR has the most loyal and dedicated fan base of any sport," said James Lyski, chief marketing officer for Nationwide, in an ESPN press conference. "We look forward to putting tremendous energy and resources into supporting this sponsorship and advancing the profile of the NASCAR Nationwide Series."

The series viewership is up 52 percent from the year 2000, with 2005 and 2006 being the most watched seasons in the entire history of the series, which Nationwide will unlikely be happy to inherit.

This increased viewer presence and appreciation is estimated to earn Nationwide $200 million in annual media exposure, thus solidifying them as "the official insurance provider of NASCAR", and affording them the luxury of an estimated 2.7 million of the most brand-loyal fans in all sports attending the 35 races at 26 different tracks in the United States, Canada, and Mexico on the series schedule.

According to Simmons National Consumer Survey results and the ESPN Sports Poll, NASCAR fans are more likely to show loyalty to an insurance company as a sponsor due to their high likelihood of owning a home/car and having children in the household. This new name will surely not change the loyalty of true fans of the sport, but based on these results, may draw more fans to this particular series.

The quest for the inaugural Nationwide Series championship will begin on Feb. 18, 2008, at Daytona International Speedway and will be broadcast exclusively on ESPN2 and ABC.

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