A generation of NASCAR fans, not to mention officials, have grown accustomed to a boundless expectation of unlimited growth. This growth has already waned in a manner not unlike what stock analysts refer to as “a bubble.” Over the past two years, television ratings have declined by approximately 21 percent, and crowds at races have similarly dwindled. The decline has so far been more hindrance than harm.
The response has so far consisted of words instead of deeds. NASCAR officials spoke last week of stability and paying more attention to the “core audience.” It marks the first time in recent memory where anything other than “change” has been the sport’s mantra. Translation: maybe the cart has finally pulled ahead of the horse.
Trouble is brewing on the nation’s economic setting, with major indicators on the wane and wide-spread expectations of a recession over the next six months.
No sport is more susceptible to the vagaries of the economy than NASCAR, where rising costs have crippled several teams hunting for crucial sponsorship leading into the season. NASCAR isn’t the bargain it once was for corporate America, and it’s not uncommon for many major teams to turn to a hodgepodge of different corporate entities adorning the paint schemes of cars where once the look of the cars was as familiar as Yankee pinstripes or Red Sox piping.
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