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Money's tight as contract renewals loom

The harsh economic climate is making its impact felt in NASCAR as teams look to re-sign major sponsors, and top drivers anxiously negotiate contract extensions.
When many of the existing NASCAR driver and sponsorship deals were signed, the world economy was in much better shape than it is today. So as those deals approach their expiry, the economic chill is starting to be felt even in North America's most popular motor sport series.

Some drivers and teams are faring better than others. With one of the most high profile drivers in the Sprint Cup Series, Joe Gibbs Racing had comparatively little trouble getting confectionary giant Mars to re-sign as sponsor of Kyle Busch's #18 car in March, meaning that the distinctive and very colourful M&M's livery will remain in the sport for some years to come.

"Mars and its iconic brands are a big part of the Joe Gibbs Racing family and we're excited to continue what has become a winning relationship," said Joe Gibbs last month confirming a "multi-year" extension to the partnership between the two companies, said to be at the same financial level as before - rumoured to be worth around $20m annually.

Kevin Harvick doesn't have the same sort of high personal profile as Busch, but after coming third in last year's Sprint Cup championship he's started 2011 with two spectacular wins in the first eight races (the only driver to win more than once so far this season) and has more than earned the multi-year deal signed last year with Richard Childress Racing. But he's being made to work hard this year in service of his new sponsor Budweiser.

Decked out in a Bud hat and corporate-compliant black polo shirt, blue jeans and grey trainers, he visited the Crown Beverage distribution facility near Darlington Raceway earlier this month and was then dispatched to deliver some of the beer to a local Wal-Mart, pushing a trolly full of crates down the aisles before stocking up the shelves to confused looks from members of the public while the photographers got their photo op. Harvick reconciled himself to the circus by quipping, "I get to drink beer and not get in trouble for it."

And at least he's secure in the sport, unlike his RCR team mate Clint Bowyer who despite being in the Chase three times in the past five seasons is yet to sign a new deal with the team. "I've talked to Richard a couple times, and hopefully we're getting close on that," he said. "Hopefully we can get our sponsors locked in and get everything put in place and not have to worry about it."

Another of RCR's drivers, Jeff Burton, has just sealed his own multi-year extension with the team and with his sponsors, construction and mining equipment manufacturers Caterpillar, to keep him in the #31. 43-year-old Burton remains one of the sport's most popular drivers, despite a lacklustre season to date. Burton has been with RCR for nearly eight years, and Caterpillar has been a sponsor since the start of 2009. Terms of the agreements were not announced, as sponsors, teams and drivers alike remained close-lipped about the hard negotiations going on this year, with sponsors seeking to cut their exposure and teams desperate to minimise the hit on their revenue.

Greg Biffle will be feeling a lot happier having signed a three-year extension with Roush Fenway Racing to continue driving the #16, and his primary sponsor 3M has signed a similar deal that will see team, driver and sponsor carry on through to the 2014 season. 3M is a model of the long-term, committed sponsor that makes a real difference to an organisation. They originally linked up with Roush Fenway Racing back in February 2005, initially using the #16 to promote their Post-It brand: five weeks in to the arrangement and the new sponsors found themselves on the car heading for victory road at Texas.

"We set the bar pretty high early on with 3M and they have stood by us on our best and worst days over the years," said Biffle. "The people at 3M have found a way to innovate and make their NASCAR program work for their incredibly diverse businesses and brands in a way that continues to amaze me."




Related Pictures

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3M is the primary sponsor of the #16 Roush Fenway Racing Ford driven by Greg Biffle. 3M, Biffle and RCR just signed a three-year extension to their ongoing collaboration. Photo credit: Jared C. Tilton/Getty Images for NASCAR
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, races to win Sunday, July 27, 2014 the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Christa L. Thomas/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, races to win Sunday, July 27, 2014 the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Harold Hinson/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, celebrates his win Sunday, July 27, 2014 of the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, kisses the Brick after his win Sunday, July 27, 2014 of the Brickyard 400 Nascar Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. Gordon, who leads the NASCAR Sprint Cup Series (NSCS) standings, has won at the Brickyard a record 5 times, the first one in 1994. (Photo by Rusty Jarrett/HHP for Chevy Racing)
The #24 Axalta Chevrolet crew celebrates in pit lane after driver Jeff Godron`s victory in the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Matt Sullivan/Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Chris Trotman/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates by kissing the bricks after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, salutes the fans after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Matt Sullivan/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, takes the chequered flag to win the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, celebrates with a burnout after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, center, celebrates with team owner Rick Hendrick, left, daughter Ella Sophia and wife Ingrid Vandebosch by kissing the bricks after winning the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Rainier Ehrhardt/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Jimmy John`s Chevrolet, leads a pack of cars into the pits during the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana.  (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Axalta Chevrolet, races the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana.  (Photo Credit: Patrick Smith/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Jimmy John`s Chevrolet, and Jeff Gordon, driver of the #24 Axalta Chevrolet, lead the field to the green flag for the start of the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 27, 2014 in Indianapolis, Indiana. (Photo Credit: Patrick Smith/NASCAR via Getty Images)
The Richard Childress Racing #3 Chevrolet Nationwide Series car driven by Ty Dillon. (Photo Credit: Getty Images for NASCAR)
Ty Dillon with his team owner and grandfaster Richard Childress at Las Vegas Motor Speedway on March 7 2014. (Photo Credit: Jonathan Ferrey/Getty Images)
Kevin Harvick, driver of the #4 Jimmy John`s Chevrolet, qualifies for the NASCAR Sprint Cup Series Crown Royal Presents The John Wayne Walding 400 at the Brickyard Indianapolis Motor Speedway on July 26, 2014 in Indianapolis, Indiana. (Photo Credit: Sean Gardner/NASCAR via Getty Images)

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