Aug 6, 2014, 9:59 AM EDT
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.
Marcos Ambrose looks to salvage lost season in V8 Supercars, has had no issues ‘moving on’ from NASCAR
Jul 28, 2015, 8:50 PM EDT
Even though it has been pretty much of a lost season for him in Australia’s V8 Supercars series, Marcos Ambrose believes he can still find some success before the racing year is over.
‘Race With Restraint’ proves grassroots racers want, will use more safety equipment at affordable rate
Jul 28, 2015, 6:56 PM EDT
The first attempt at bringing top-of-the-line safety equipment to the grassroots racing masses was an unqualified success.
Jul 28, 2015, 4:32 PM EDT
Hector Arana Jr. hopes 2015 is about time to finally be his time.
Jul 28, 2015, 3:45 PM EDT
Fast facts heading into this weekend’s Honda Indy 200, courtesy of IndyCar PR staff.
Jul 28, 2015, 2:50 PM EDT
To paraphrase Mark Twain, rumors of the demise of NHRA’s Pro Stock class have been greatly exaggerated.
Jul 28, 2015, 12:31 PM EDT
Simon Pagenaud swaps firesuit for street clothes when driving the Penske Truck Rental truck, playing “mover” this weekend.
Jul 28, 2015, 11:38 AM EDT
The latest car for Austin Cindric is a Lamborghini at Mid-Ohio this weekend.
Jul 28, 2015, 11:23 AM EDT
Zanardi still wants to race the Indy 500, if possible.
Jul 28, 2015, 11:04 AM EDT
Singapore Grand Prix circuit to adjust Turns 11 to 13.
Jul 28, 2015, 10:15 AM EDT
Sherwin-Williams joins the Hulman Motorsports family as Official Paint and Finishing Partner.
Jul 28, 2015, 9:55 AM EDT
We check in with NBCSN IndyCar analyst Townsend Bell for latest “Ten with Townsend” insights, post the Iowa race and heading into Mid-Ohio.
Jul 27, 2015, 4:51 PM EDT
Good news, Ricciardo made the podium. Bad news, his trophy didn’t survive it.
Jul 27, 2015, 4:09 PM EDT
Jakes kept his visor down after all on a pit stop in Iowa.
Jul 27, 2015, 3:13 PM EDT
A quick look back at Chaves’ short track debut.
Jul 27, 2015, 2:00 PM EDT
Karam needs a clean, consistent weekend at Mid-Ohio.
Jul 27, 2015, 12:00 PM EDT
Rahal and Force compete against each other in a series of fun challenges at Sonoma.
Jul 27, 2015, 11:00 AM EDT
If another Dixon Mid-Ohio win happens, it will save his championship chances.
After blowing his chance to cut the gap to Hamilton, Rosberg must now avoid the mistakes of last summer
Jul 27, 2015, 10:00 AM EDT
Luke Smith considers the fall-out of a dramatic Hungarian Grand Prix that saw both Mercedes drivers miss an opportunity to seize control of the drivers’ championship.
Jul 27, 2015, 9:00 AM EDT
Manor makes it through a difficult weekend by getting both of its cars to the finish in Hungary.
Jul 27, 2015, 8:00 AM EDT
Vettel storms to his 41st career victory in Hungary as both Mercedes drivers hit trouble.
- Marcos Ambrose looks to salvage lost season in V8 Supercars, has had no issues ‘moving on’ from NASCAR 0
- NHRA: Big changes coming to Pro Stock this weekend, next season 9
- Report: Alex Zanardi keen to make Indianapolis 500 debut 5
- Ten with Townsend: Milwaukee and Iowa debrief 0
- For Dixon, it’s likely Mid-Ohio or bust in terms of 2015 IndyCar title hopes 0
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- NHRA Mile-High Nationals winners: Torrence, Beckman, Morgan, Krawiec 2