GEICO to end NASCAR sponsorship at season's end
09/20/2024 07:37 PM
GEICO will end its NASCAR Cup Series sponsorship after the 2024 season.
The news was confirmed by NASCAR after first being reported Friday by the Sports Business Journal. GEICO has been one of the four partner partners of the Cup Series since NASCAR moved to the model in 2020 (after the end of the Monster Energy entitlement sponsorship). Xfinity, Busch Beer, and Coca-Cola are the other three.
GEICO has also been the Official Insurance Provider of NASCAR since 2019.
A statement from NASCAR read: "The partnership between NASCAR and GEICO has demonstrated the immense value and weekly excitement that two consumer-driven brands can create, and we are proud of the extraordinary brand value, exposure and growth opportunities we've built together. We've appreciated their partnership and presence in the sport as one of our first Premier Partners."
The insurance company has had a wide presence in NASCAR through the years. In addition to its partnership with the sanctioning body, GEICO has the naming rights to the restart zone at each racetrack — painted blue, giving exposure to the GEICO brand with its name on the wall and track surface.
GEICO has also been the entitlement sponsor of the spring Cup Series race at Talladega Superspeedway and was once a full-season sponsor at the now-defunct Germain Racing. The team competed in the Cup Series from 2009 through the 2020 season.
Sports Business Journal released its 2024 list of most recognized sponsorships in sports earlier this summer (compiled through MarketCast) with NASCAR and the NFL leading the way. Not only did several of NASCAR's partners make the list, but Goodyear, the official tire company of NASCAR, was revealed to be the most recognizable sponsorship in sports alongside Anheuser-Busch for the NFL.
In the piece, Greg Truex, the vice president of sports and sponsorship research for MarketCast, said, "NASCAR and its brand partners still lead in sponsorship awareness among fans …"
