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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, finishes in ninth place racing with Kasey Kahne, driver of the #5 Farmer`s Insurance Chevrolet SS who finishes in eleventh place Sunday, March 29, 2015 in the NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. (Photo by Andrew Coppley/HHP for Chevy Racing)
Kevin Harvick, driver of the #4 Budweiser/Jimmy John`s Chevrolet SS, finishes in eighth place Sunday, March 29, 2015 in the NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Danica Patrick, driver of the #10 TaxAct Chevrolet SS, finishes in 7th place Sunday, March 29, 2015 in the NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. (Photo by Andrew Coppley/HHP for Chevy Racing)
Martin Truex, Jr., driver of the #78 Furniture Row/Visser Precision Chevrolet SS, finishes in sixth place Sunday, March 29, 2015 in the NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. (Photo by Andrew Coppley/HHP for Chevy Racing)
Paul Menard, driver of the #27 Pittsburgh Paints/Menards Chevrolet, Aric Almirola, driver of the #43 STP Ford, Greg Biffle, driver of the #16 Ortho Ford, Trevor Bayne, driver of the #6 AdvoCare Ford, and Jimmie Johnson, driver of the #48 Lowe`s Chevrolet, are involved in an on-track incident during the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 29, 2015 in Martinsville, Virginia.  (Photo Credit: Rob Carr/Getty Images)
Ricky Stenhouse Jr., driver of the #17 Fastenal Ford, is involved in an on-track incident during the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 29, 2015 in Martinsville, Virginia.  (Photo Credit: Jeff Zelevansky/NASCAR via Getty Images)
Joey Logano, driver of the #29 Cooper Standard Ford, and Matt Crafton, driver of the #88 Hormel/Menards Toyota, race into turn one during the NASCAR Camping World Truck Series Kroger 250 at Martinsville Speedway on March 28, 2015 in Martinsville, Virginia. (Photo Credit: Rob Carr/Getty Images)
Martin Truex, Jr., driver of the #78 Furniture Row/Visser Precision Chevrolet SS, qualifies for third position Friday, March 27, 2015 for Sunday`s NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. Truex, Jr. is third in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Andrew Coppley/HHP for Chevy Racing)
Jimmie Johnson, driver of the #48 Lowe’s Chevrolet SS, qualifies for fifth position Friday, March 27, 2015 for Sunday`s NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. Johnson is seventh in the NASCAR Sprint Cup Series (NSCS) standings.(Photo by Alan Marler/HHP for Chevy Racing)
Ryan Newman, driver of the #31 Quicken Loans Chevrolet SS, qualifies for 2nd position Friday, March 27, 2015 for Sunday`s NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. Newman is sixth in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Alan Marler/HHP for Chevy Racing)
Jeff Gordon, driver of the #24 Axalta Chevrolet SS, qualifies for fourth position Friday, March 27, 2015 for Sunday`s NASCAR Sprint Cup race at Martinsville Speedway in Ridgeway, Virginia. Gordon is 22nd in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Rusty Jarrett/HHP for Chevy Racing)
A view of a decal placed on the #14 Code 3 Associates / Mobil 1 Chevrolet, driven by Tony Stewart (not pictured), during qualifying for the NASCAR Sprint Cup Series STP 500 at Martinsville Speedway on March 27, 2015 in Martinsville, Virginia. (Photo Credit: Jeff Zelevansky/NASCAR via Getty Images)
JGR president JD Gibbs during the pre-season media tour. January 24, 2013. Photo Credit: Streeter Lecka/Getty Images for NASCAR
JD Gibbs and Joe Gibbs during the pre-season media tour. January 24, 2013. Photo Credit: Streeter Lecka/Getty Images for NASCAR
Brian Vickers, driver of the Michael Waltrip Racing Toyota, answers questions from media during a press conference before the NASCAR Sprint Cup Series Auto Club 400 at Auto Club Speedway on March 22, 2015 in Fontana, California. Vickers was forced to withdraw from competition due to blood clots. (Photo Credit: Robert Laberge/NASCAR via Getty Images)
Kevin Harvick, driver of the #4 Jimmy John`s/Budweiser Chevrolet, races during the NASCAR Sprint Cup Series Auto Club 400 at Auto Club Speedway on March 22, 2015 in Fontana, California. (Photo Credit: Jerry Markland/NASCAR via Getty Images)
Brett Moffitt, driver of the #55 Janssen Toyota, races during the NASCAR Sprint Cup Series Auto Club 400 at Auto Club Speedway on March 22, 2015 in Fontana, California. (Photo Credit: Jerry Markland/NASCAR via Getty Images)

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