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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
Kevin Harvick, driver of the #4 Jimmy John’s/Budweiser Chevrolet SS, will be on the front row after qualifying for second position Friday, July 31, 2015 for Sunday`s NASCAR Sprint Cup race at Pocono Raceway in Long Pond, Pennsylvania. Harvick leads the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Harold Hinson/HHP for Chevy Racing)
Austin Dillon, driver of the #3 American Ethanol Chevrolet SS, qualifies for fourth position Friday, July 31, 2015 for Sunday`s NASCAR Sprint Cup race at Pocono Raceway in Long Pond, Pennsylvania. Dillon is 19th in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Tony Stewart, driver of the #14 Rush Truck Centers/Mobil 1 Chevrolet SS, qualifies for fifth position Friday, July 31, 2015 for Sunday`s NASCAR Sprint Cup race at Pocono Raceway in Long Pond, Pennsylvania. Stewart is 26th in the NASCAR Sprint Cup Series (NSCS) standings.(Photo by Harold Hinson/HHP for Chevy Racing)
Kurt Busch, driver of the #41 Haas Automation Chevrolet SS, qualifies for sixth position Friday, July 31, 2015 for Sunday`s NASCAR Sprint Cup race at Pocono Raceway in Long Pond, Pennsylvania. Busch is eighth in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Clint Bowyer, driver of the #15 Maxwell House Toyota, and Kyle Busch, driver of the #18 M&M`s Crispy Toyota, speak in the garage during practice for the NASCAR Sprint Cup Series Windows 10 400 at Pocono Raceway on July 31, 2015 in Long Pond, Pennsylvania. (Photo Credit: Tim Bradbury/Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, poses with the trophy in Victory Lane with wife Samantha and son Brexton Locke after winning the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Sean Gardner/NASCAR via Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Matt Sullivan/Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, places the winner`s decal in Victory Lane after winning the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana (Photo Credit: Photo by Sean Gardner/NASCAR via Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, celebrates with the chequered flag after winning the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Sarah Crabill/NASCAR via Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, celebrates by kissing the bricks after winning the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Robert Laberge/Getty Images)
Kyle Busch, driver of the #18 Skittles Toyota, takes the chequered flag to win the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Rainier Ehrhardt/NASCAR via Getty Images)
Kyle Larson, driver of the #42 Target Chevrolet SS, stops in his pit on his way to a ninth place finish Sunday, July 26, 2015 in the NASCAR Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Harold Hinson/HHP for Chevy Racing)
Kurt Busch, driver of the #41 Haas Automation Chevrolet SS, races to an eighth place finish with third place finisher Kevin Harvick, driver of the #4 Jimmy John’s/Budweiser Chevrolet SS Sunday, July 26, 2015 in the NASCAR Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Garry Eller/HHP for Chevy Racing)
Martin Truex, Jr., driver of the #78 Furniture Row/Visser Precision Chevrolet SS, finishes in fourth place Sunday, July 26, 2015 in the NASCAR Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Garry Eller/HHP for Chevy Racing)
Kevin Harvick, driver of the #4 Jimmy John’s/Budweiser Chevrolet SS, races to a third place finish Sunday, July 26, 2015 in the NASCAR Sprint Cup race at Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Garry Eller/HHP for Chevy Racing)
A detailed view of the Brickyard 400 trophy prior to the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana. (Photo Credit: Photo by Rainier Ehrhardt/NASCAR via Getty Images)
Carl Edwards, driver of the #19 Stanley Toyota, and Joey Logano, driver of the #22 Shell Pennzoil Ford, take the green flag to start the NASCAR Sprint Cup Series Crown Royal Presents the Jeff Kyle 400 at the Brickyard at Indianapolis Motor Speedway on July 26, 2015 in Indianapolis, Indiana.  (Photo Credit: Photo by Rainier Ehrhardt/NASCAR via Getty Images)

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