Aug 6, 2014, 9:59 AM EST
One of the things in the business of racing you have to watch is when a company makes a change at the top, and what impact the new person will have on a company’s racing program.
Oftentimes, if the new person fails to match the enthusiasm of interest level of his or her predecessor, or deems the sponsorship isn’t worth the ROI, the sponsorship either runs to the end of its contract or ends early. This occurred in IndyCar last year as Phillips Van Heusen’s IZOD brand, under new management, slowly decreased its involvement before announcing – in what was no real surprise – it was withdrawing as a title sponsor at the end of the 2013 season.
So with the news Wednesday that Sprint is making a change at the top – CEO Dan Hesse will be replaced by billionaire entrepreneur Marcelo Claure, per media reports – the status of Sprint in the business world is something NASCAR will need to watch for at least the next two years.
Per The Wall Street Journal, a Sprint board meeting Tuesday determined the company would end its pursuit of T-Mobile, which after Sprint (third) is the fourth largest telecom company behind leaders Verizon and AT&T. Those two combining did not please regulators, the WSJ said.
The report has one other key piece of news that’s NASCAR-related: Sprint, as a company, has lost money every year since 2007. That 2007 season marked the end of Nextel’s title sponsorship before Sprint, the new parent company after it took over Nextel, was named starting with the 2008 season.
Per Sporting News’ Bob Pockrass, Sprint’s contract as NASCAR Cup title sponsor runs through 2016, and roughly a year from now, there will be questions as to whether this will be extended or whether NASCAR’s marquee series will need to begin a new search.
Thru 2016. Impact TBD. Must decide by some pt next yr MT @Nascar_MT: how long is sprints contact as title sponsor? Any impact with new CEO?
— Bob Pockrass (@bobpockrass) August 6, 2014
Sprint/Nextel has been the Cup Series’ title sponsor since 2004, when it replaced R.J. Reynolds and Winston – a partnership that dated to the 1970s.
The Nationwide Series has not yet named a title sponsor to replace Nationwide; that sponsorship ends at the end of this season.
Nov 23, 2014, 6:10 PM EST
The world of motorsports — particularly NASCAR and NHRA — is mourning arguably the best public relations person it has ever seen, Denny Darnell, who passed away Saturday.
Nov 23, 2014, 6:00 PM EST
The Charlotte and Texas brawls from this year’s Chase are still resonating weeks after they occurred.
Nov 23, 2014, 5:17 PM EST
Marcos Ambrose is wasting little time in his return to racing V8 Supercars in his native Australia.
Nov 23, 2014, 4:30 PM EST
A wild concept collaboration for Gran Turismo 6 between the Bowtie and famous race car builder Chaparral.
Petty’s 1988 Daytona wreck sold as prelude to upcoming auction of NASCAR Hall of Famer Cotton Owens estate
Nov 23, 2014, 3:53 PM EST
The remains of Richard Petty’s crashed 1988 Pontiac Grand Prix from the 1988 Daytona 500 sold Saturday, a prelude of an even larger auction of late NASCAR Hall of Famer Cotton Owens’ estate on Dec. 6.
Nov 23, 2014, 2:30 PM EST
This weekend is the first without a NASCAR race since mid-July.
Nov 23, 2014, 2:00 PM EST
For the last time in 2014, we round up all of the action in the paddock as Lewis Hamilton became Formula 1 world champion for the second time.
Nov 23, 2014, 1:30 PM EST
It’s not enough to beat McLaren in the constructors’, but a great result nevertheless for Hulkenberg and Perez in Abu Dhabi.
Nov 23, 2014, 1:15 PM EST
Lotus laughs rather than cries after a fitting end to its challenging 2014 season.
Nov 23, 2014, 12:45 PM EST
Quite a drive from Daniel Ricciardo, primarily aided by start on primes.
Nov 23, 2014, 12:15 PM EST
After winning four world titles with Red Bull, Vettel is bound for Ferrari in 2015.
Nov 23, 2014, 11:45 AM EST
On a great day for British motorsport, Prince Harry and British Prime Minister David Cameron send their congratulations to Hamilton.
Nov 23, 2014, 11:30 AM EST
Alonso is set to join McLaren in 2015 after five years with Ferrari.
Nov 23, 2014, 11:15 AM EST
An engine failure cost Rosberg the chance to emulate his father and become F1 world champion.
Nov 23, 2014, 10:56 AM EST
Second and third for Massa and Bottas caps an incredible 2014 season for Williams.
Nov 23, 2014, 10:13 AM EST
British driver wins his second F1 championship in Abu Dhabi as title rival Nico Rosberg fails to finish in the points.
Nov 23, 2014, 9:45 AM EST
An engine failure for Nico Rosberg leaves Hamilton free to win the race under the lights in Abu Dhabi and clinch his second world title.
Nov 23, 2014, 8:30 AM EST
F1′s feeder series comes to a close in Abu Dhabi on Sunday.
Nov 23, 2014, 7:45 AM EST
The third tier single seater series comes to a close in Abu Dhabi, with Alex Lynn winning the championship.
Video from NASCAR America
- Abu Dhabi GP Paddock Notebook – Sunday 0
- Hamilton calls second title victory “the greatest day of my life” 3
- Hamilton clinches second F1 world title by winning Abu Dhabi GP 8
- The Final Showdown: Hamilton and Rosberg prepare for one final battle in Abu Dhabi 0
- Vettel and Ricciardo to start Abu Dhabi GP from pit lane 0
- Abu Dhabi GP Paddock Notebook – Saturday 0
- Red Bull drivers excluded from qualifying in Abu Dhabi 2