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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
Jimmie Johnson, driver of the #48 Lowe’s/Kobalt Tools Chevrolet SS finished in third place Sunday, September 28, 2014 in the Chase Challenger 16 NASCAR Sprint Cup race at Dover International Speedway in Dover, Delaware. Johnson advances to the Contender 12 phase of the Chase which begins next Sunday at Kansas Speedway.  (Photo by Gregg Ellman/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet SS races to win Sunday, September 28, 2014 in the Chase Challenger 16 NASCAR Sprint Cup race at Dover International Speedway in Dover, Delaware. Gordon advances to the Contender 12 phase of the Chase which begins next Sunday at Kansas Speedway.  (Photo by Gregg Ellman/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet SS celebrates his victory with his daughter, Ella Sofia Sunday, September 28, 2014 in the Chase Challenger 16 NASCAR Sprint Cup race at Dover International Speedway in Dover, Delaware. Gordon advances to the Contender 12 phase of the Chase which begins next Sunday at Kansas Speedway.  (Photo by Gregg Ellman/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet SS celebrates his victory win Sunday, September 28, 2014 in the Chase Challenger 16 NASCAR Sprint Cup race at Dover International Speedway in Dover, Delaware. Gordon advances to the Contender 12 phase of the Chase which begins next Sunday at Kansas Speedway.  (Photo by Gregg Ellman/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware. (Photo Credit: Sarah Glenn/NASCAR via Getty Images)
Brad Keselowski, driver of the #2 Wurth Ford, races Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, during the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware.  (Photo Credit: Matt Sullivan/Getty Images)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, crosses the finish line to win the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware. (Photo Credit: Sean Gardner/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, celebrates with a burnout after winning the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, leads Kyle Larson, driver of the #42 Target Chevrolet, during the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware.  (Photo Credit: Matt Sullivan/NASCAR via Getty Images)
Kevin Harvick drives the #4 Budweiser Chevrolet back to pit road after cutting a tyre during the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware.  (Photo Credit: Jared C. Tilton/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet, pits during the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware.  (Photo Credit: Patrick Smith/Getty Images)
Kevin Harvick, driver of the #4 Budweiser Chevrolet, and Kyle Busch, driver of the #18 Interstate Batteries Toyota, lead the field to the start of the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 28, 2014 in Dover, Delaware. (Photo Credit: Sean Gardner/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Budweiser Chevrolet, stands on pit road during qualifying for the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 26, 2014 in Dover, Delaware. (Photo Credit: Patrick Smith/Getty Images)
Kevin Harvick, driver of the #4 Budweiser Chevrolet, gets in his car during qualifying for the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 26, 2014 in Dover, Delaware. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Budweiser Chevrolet, gets ready to practice for the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 26, 2014 in Dover, Delaware. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Budweiser Chevrolet, gets ready to practice for the NASCAR Sprint Cup Series AAA 400 at Dover International Speedway on September 26, 2014 in Dover, Delaware. (Photo Credit: Todd Warshaw/NASCAR via Getty Images)
Jeff Gordon, driver of the #24 Drive To End Hunger Chevrolet SS qualified for sixth position Friday, September 26, 2014 for Sunday`s Chase Challenger 16 NASCAR Sprint Cup race at Dover International Speedway in Dover, Delaware. Gordon is in the Chase. Sunday will determine who advances to the next phase of the Chase, the Contender 12.  (Photo by Alan Marler/HHP for Chevy Racing)

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