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 28, 2014, 4:31 PM EST
Mark Webber fastest in second practice for WEC at Interlagos.
Nov 28, 2014, 3:00 PM EST
Porsche 919 Hybrids run 1-2 in the first session at Interlagos.
Nov 28, 2014, 2:00 PM EST
The end of the WEC season occurs this weekend in Brazil.
Nov 28, 2014, 1:45 PM EST
We take a look back at some of the biggest stories in Formula 1 this year.
Nov 28, 2014, 1:30 PM EST
Rico Abreu locks up USAC Honda Midget Series title with fifth-place finish in Thanksgiving classic.
Nov 28, 2014, 1:00 PM EST
Alonso proved once again in 2014 that he has ability exceeding that of the Ferrari car, but even he couldn’t make up for the shortcomings of the F14 T.
Nov 28, 2014, 12:11 PM EST
Spanish driver to race alongside Max Verstappen in 2015, stepping up to make his F1 debut.
Nov 28, 2014, 12:00 PM EST
Red Bull may have been underdogs after winter testing, but few could have predicted Sebastian Vettel’s bid for a fifth world title being as weak as it was.
Nov 28, 2014, 11:00 AM EST
After a difficult rookie season, Bottas’ sophomore year in F1 brought far more success, marking the Finn as a possible champion in the future.
Nov 28, 2014, 10:30 AM EST
Kvyat will replace Sebastian Vettel at Red Bull next year.
Nov 28, 2014, 10:15 AM EST
Nico Hulkenberg and Porsche: a win for both the WEC and F1 in a rare moment of motorsport unity for the common good.
Nov 28, 2014, 10:00 AM EST
What a year it was for Daniel Ricciardo in his first season at Red Bull.
Nov 28, 2014, 9:30 AM EST
Talks about a new contract with Mercedes should be brought forwards after title win.
Nov 28, 2014, 9:00 AM EST
A worthy title contender, Nico Rosberg enjoyed his most successful season to date in 2014.
Nov 28, 2014, 8:00 AM EST
2014 saw the Briton become a two-time F1 world champion, winning 11 races.
Nov 28, 2014, 7:00 AM EST
A new regime will come into force at Maranello next season following a disappointing campaign in 2014.
Nov 28, 2014, 6:00 AM EST
British racer will remain with Williams for 2015 after becoming the first woman to take part in a grand prix weekend session in 22 years over the summer.
Nov 27, 2014, 8:46 PM EST
NHRA team owner Don Schumacher underwent surgery Wednesday for early-stage skin cancer.
Nov 27, 2014, 8:04 PM EST
NASCAR star Kyle Busch and wife Samantha dropped a very big hint that their first child may be a boy.
Nov 27, 2014, 7:28 PM EST
IndyCar driver Graham Rahal and NHRA driver Courtney Force announced their engagement Thursday in Venice, Italy.
Video from NASCAR America
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