The National Association for Stock Car Auto Racing (NASCAR) announced today that Nationwide Insurance will become title sponsor of the NASCAR Nationwide Series, replacing Anheuser-Busch’s Busch brand at the start of the 2008 season. Nationwide Insurance will also become the official auto, home and life insurance provider of NASCAR.
The seven-year agreement gives Nationwide Insurance the exclusive rights to tie its brand to the most popular form of motorsports in the U. S. Nationwide Insurance will enjoy the support of the most brand-loyal fans in all of sports, including 2.7 million who annually attend races of the series, which features 35 points events at 26 tracks across North America, including Mexico City and Montreal.
“We are thrilled that we had the opportunity to select a partner in Nationwide Insurance who is as excited as NASCAR about taking the NASCAR Nationwide Series to even higher levels of popularity, ” said NASCAR Chairman and CEO Brian France. “Nationwide Insurance is an ideal partner for NASCAR, advocating safe driving, and already serving millions of NASCAR fans with its auto, health, and life insurance. The company has a real passion for NASCAR, which will benefit our fans and all the participants in our industry. ”
“Nationwide is excited about this long-term partnership and recognizes that NASCAR has the most loyal and dedicated fan base of any sport, ” said James Lyski, Chief Marketing Officer for Nationwide. “We look forward to putting tremendous energy and resources into supporting this sponsorship and advancing the profile of the NASCAR Nationwide Series. ”
The NASCAR Nationwide Series, broadcast on ESPN2 and ABC is stronger than ever. The series is the third highest-rated regular-season sport on cable television. Viewership in 2007 to date vs. 2000 is up 52%. The 2005 and 2006 seasons were the most viewed in series history.
Nationwide Insurance, which will generate approximately $200 million in annual media exposure through its sponsorship, is already serving millions of NASCAR fans with auto, home, and life insurance. Nationwide Insurance has had a partnership with track operator Speedway Motorsports Inc., for the past eight years, providing “On Your Side” information guides, transportation services and fan pit stops.
“Nationwide is a company that helps consumers plan for their futures, so they can achieve their dreams, ” Lyski said. “The NASCAR Nationwide Series provides a unique environment for Nationwide to extend its On Your Side brand promise, not only to race fans, but to the next generation of outstanding NASCAR drivers pursuing their dreams of competing at the highest level. ”
NASCAR fans are more likely to feel loyal towards an insurance company that is a sponsor, according to the ESPN Sports Poll. Additionally, NASCAR fans are more likely to have automobiles, be homeowners, and have children in the household, according to Simmons National Consumer Survey research.
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