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.
Sep 16, 2014, 4:45 PM EDT
Also coming up today: What’s more important in winning a Sprint Cup title: Experience or Drive?; rookie phenom Kyle Larson on dealing with the hype; NASCAR pioneer Wendell Scott to be honored next month.
Sep 16, 2014, 4:00 PM EDT
The Russian driver will continue his rehab work in Indy after sustaining multiple injuries in a practice crash on Aug. 29 at Auto Club Speedway.
Sep 16, 2014, 3:00 PM EDT
The three-time NASCAR champion responds that he intends to “continue to provide my full cooperation.”
Sep 16, 2014, 2:45 PM EDT
OAK Racing to return to FIA WEC for three of last four races.
Sep 16, 2014, 2:30 PM EDT
Sprint Cup driver David Ragan and Camping World Truck Series driver Darrell Wallace Jr. will sport special paint schemes honoring Scott during the Martinsville Chase weekend in October.
Sep 16, 2014, 2:00 PM EDT
Videos from the Pirelli World Challenge championship celebration highlight 25 years, and the 25th year (2014) of the championship.
Sep 16, 2014, 1:30 PM EDT
All the notes and numbers to keep in mind as NASCAR enters the second race of the Chase’s Challenger Round.
Sep 16, 2014, 1:00 PM EDT
Reports from Australia peg the season-opening race having posted an A$60 million loss in 2014.
Sep 16, 2014, 12:25 PM EDT
CFH Racing reveals logo and will reveal a part of its 2015 Verizon IndyCar Series program on Wednesday.
Sep 16, 2014, 12:00 PM EDT
Corvette Racing and Corvette DP teams look for Austin win encore this weekend.
Sep 16, 2014, 11:15 AM EDT
Expect the 100 kg fuel limit to enter the equation this weekend, says Renault’s head of track operations.
Sep 16, 2014, 10:28 AM EDT
Sergio Perez looks to go 4-4 in Singapore scores.
Sep 16, 2014, 9:52 AM EDT
Michael Waltrip and partner Emma Slater look to avoid being eliminated after first dance effort on DWTS.
Sep 15, 2014, 10:54 PM EDT
Tony Stewart is expected to learn later this week if he will not face charges or may be indicted in last month’s Kevin Ward Jr. tragedy. A noted attorney with extensive experience in death and catastrophic injury cases explained to MST the legal process in Stewart’s case.
Sep 15, 2014, 9:36 PM EDT
In his first-ever race in the Chase for the Sprint Cup, Aric Almirola suffered a blown engine at Chicagoland Speedway for the first time in his three-year career.
Sep 15, 2014, 9:31 PM EDT
On Monday’s edition of NASCAR America, we recap how Dale Earnhardt Jr. and Jimmie Johnson struggled in the first race of the Chase.
Sep 15, 2014, 4:01 PM EDT
Monday’s edition of NASCAR America recaps all the highs and lows of Sunday’s opening race in the Chase for the Sprint Cup, from Brad Keselowski’s win to Aric Almirola’s heartbreak.
Sep 15, 2014, 3:00 PM EDT
John Paul Jr. keeps fighting despite Huntington’s disease.
Sep 15, 2014, 2:00 PM EDT
Parker Kligerman recaps his Indy Lights test at IMS.
Sep 15, 2014, 1:55 PM EDT
Aric Almirola came into Sunday’s opening race of the Chase for the Sprint Cup with high hopes of being perhaps the Cinderella of the playoffs, someone who would fly under the radar all the way to the final four season-ending battle at Homestead.
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