Crowds at Pocono were their largest since 2010, the track reported, something that’s a trend in NASCAR right now. The sport is growing and its financials show that.
A report released by Global Data and given to CupScene’s Greg Engle, a contributor to Forbes who wrote about it for that publication, shows a strong financial performance for the industry.
It’s a strong recovery after the low points of the past decade, when attendance and revenue were on the decline throughout the industry.
Numbers in the report show a total of $425.06 million being brought in by NASCAR’s 58 sponsor partners. On the team side, Team Penske draws in $140.94 million, with Richard Childress trailing with $104.55 million from sponsors.
Roush Fenway Keselowski Racing is the team drawing the seventh-most funding from sponsors at $36.66 million per year. That includes a high-profile new deal with Build Submarines.
“I certainly feel like we’ve gotten into a really good spot with sponsors, with our partners like Fifth Third and Fastenal, and Build Submarines has been a major opportunity for RFK, and then Castrol is somewhere between short and long term,” RFK driver Chris Buescher said.
“So I definitely feel like the sport is very healthy and we’ve been in a very good spot to show our partners that we have a lot of value here. We’ve been on a huge upward trend.”
“Without getting too far into the weeds, I certainly feel like from where I’m standing there’s a lot of opportunity to showcase their product, to use our sport as a good advertising platform, and I think we’re showing the value of that as we continue to grow,” Bescher concluded.
RFK Racing team owner Brad Keselowski was less willing to offer so many platitudes, but also had a positive outlook.
“I think there’s some things going on that are really positive for this sport for sure,” Keselowski said, “and then there are some challenges like always.
“It’s hard to weigh those out and create a scorecard and call it the ‘best ever.’ But there are certainly some strengths to build off of and some challenges to overcome,” he added.
Ahead of RFK Racing is Front Row Motorsports. Michael McDowell has been able to make a strong run in the points this year and the team has shown big improvements. Pulling in $43.12 million a year from sponsors can only help that effort.
Driver Todd Gilliland thinks the team is in a good financial position, but emphasizes that NASCAR as a whole is in a good position.
“Yeah, I think so,” Gilliland said. “Honestly, I don’t know a whole lot about the financial side of our team, but at least from going to the racetrack, it feels like there’s more people in the stands, more people in the infield, and to me that means that there’s more people spending money at the racetrack.”
“It’s been really cool, it’s been amazing to see the huge crowds. I think that’s what makes racing in the Cup Series so special to me,” he added.
With attendance, viewership is at new highs, and not just on TV. Streaming and social media make up a big portion of viewers, increasing the reach of brands and encouraging investment in NASCAR.
This growth comes at a key time for the sanctioning body: new TV deals are being negotiated, and the Xfinity Series has already been moved to The CW starting in 2025. A strong financial state is a good bargaining tool in ensuring favorable contracts for NASCAR.
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