Companies That Spend the Most on NASCAR Sponsorships

Attracting millions of fans each time a race is held, NASCAR is undeniably one of the most popular sporting events in the US. Offering breakneck speeds, undeniable entertainment, an exciting atmosphere, the sport has evolved from bootlegger roots to become an iconic part of American tradition.

Due to its immense popularity, NASCAR attracts many big companies that want their name prominently displayed during races. To achieve this, they are willing to pay large sums in sponsorships to help racers and make the events the best they can be. Let’s take a look at who some of the biggest sponsors are and how much they spend.

History of NASCAR

The origins of NASCAR lie in the 1920s, when racers modified their cars to gain extra power to outrun law enforcement while moving alcohol during prohibition.

After prohibition ended in 1933, the need for beefed-up cars no longer existed, but the desire to have them persisted. So, in 1948, Bill France Sr. founded the National Association for Stock Car Auto Racing (NASCAR). The following year, the first official race occurred in Charlotte, North Carolina.

The sport quickly drew in a huge number of fans. By 1959, the home of NASCAR, the Daytona International Speedway, opened and became the breeding ground for newer and faster cars to be shown off. By 1972, the sport had become so popular that the NASCAR Cup Series (previously the Winston Cup Series) was started, marking what many believe to be the birth of modern NASCAR.

Attendance

As NASCAR grew in popularity, so did its fans. In 2023, it is believed that more than 150,000 fans physically attended the Daytona 500 event. In addition, millions of people across the country watch the sport at home.

Because of this, NASCAR is consistently ranked as one of the most-watched sporting events in the US. As such, it is no surprise that companies are willing to open their wallets wide to have their brand shown during events. These companies range from beverage makers to slot sites platforms where you can play games for fun or real cash.

Coca-Cola

Although Coca-Cola began sponsoring the sport in 1998, it wasn’t until 2001 that public figures for its sponsorship became available. At the time, the brand signed a new $30 million contract to run over five years. This started what would become a lucrative partnership for the brand and sport.

By the late 2010s, it was reported that the brand was spending over $10 million annually on various sponsorships with the sport. This significant amount excludes additional funding that began in 2019 when the company became a premier partner of the sport, costing an estimated $15 million annually.

Aside from annual commitments, Coca-Cola also has rights to the Coca-Cola 600 Race at the Charlotte Motor Speedway. The brand is also the official fan beverage sponsor and the title sponsor of the increasingly popular eNASCAR Coca-Cola iRacing Series. Altogether, these various investments make Coca-Cola one of the most prominent sponsors of the sport.

Monster Energy

In 2017, Monster Energy replaced mobile network Sprint as a title partner, becoming the official energy drink of NASCAR. This provided drivers and teams with the added boost they needed to get through long events. The company, known internationally for its distinctive ‘M’ logo and fizzy drinks, joined the list of sponsors to aid in brand visibility and reach an energetic audience.

Signing a contract for just two years, Monster failed to renegotiate further sponsorship deals after the initial agreement ended. Despite this, the brand is still listed as an official sponsor, and many believe it still pumps large sums of cash into the sport.

Moreover, Monster is known as one of the most prominent sponsors due to the $20 million per year it spent between 2018 and 2019. This money was well spent considering how many fans were exposed to the brand, but it is almost a drop in the ocean considering how much revenue the sport attracts.

Anheuser-Busch

Known for its drink, Busch Beer, Anheuser-Busch has been a title sponsor of NASCAR since the 1970s. Still the main beer sponsor for the sport, whose fans enjoy few things more than a good cold drink while watching an event, the company is one of the longest-running consecutive sponsors.

Continuing its partnership with the sport to maintain brand loyalty and because NASCAR fans are among its target demographic, Busch Beer receives many of the best advertising spots in the sport. This is not only because of its longstanding support but also because of how much it contributes annually.

While exact figures aren’t known on a year-by-year basis, estimates have calculated that the beer icon spends between $15 and $20 million on NASCAR each year. This spending, which has grown significantly over the decades, has made it almost synonymous with the sport.

Xfinity

Listed as the official cable sponsor for the sport, Xfinity began sponsoring NASCAR in 2015 with a 10-year deal. The deal, which saw the brand become the headline sponsor of the NASCAR Xfinity Series, is currently in talks to be extended beyond 2024 when it ends.

Aside from its namesake series, in 2021, Xfinity signed an agreement to become a premier sponsor of the NASCAR Cup Series. This move gave the brand even more prime exposure. However, the deal was secretive, with no mention of this investment’s cost.

The NASCAR Xfinity Series deal was opened to the public, revealing that the brand spent around $200 million across the ten years, equating to roughly $20 million annually. In addition, the company also sponsors the 23XI team with additional funding that is withheld from the public.

GEICO

NASCAR’s incredibly fast driving always raises concerns about what will happen if something goes wrong. Understanding this, GEICO, which provides insurance policies, has been a sponsor of the sport for many years. However, it wasn’t until 2019 that the brand’s sponsorship got serious.

At this time, the brand became the official insurance partner for NASCAR and was listed as a premier partner. This title, which requires sponsorship of between $15 and $20 million annually, far exceeds the amount the company previously contributed to the sport (estimated at roughly $1 million yearly).

Although this partnership ends with the 2024 season, the insurance company has gained extensive exposure over the last five years, with access to track signage and TV commercials.