• Loading stock data...
Tuesday, December 10, 2024
Tune in on Dec. 11 at 1:05 p.m. ET for our last Future of Sports virtual summit of the year – Future of Sports: Marketing! Register Now

Las Vegas Motor Speedway and Pennzoil Agree to Entitlement Sponsorship

Shell vice president Rusty Barron and LVMS president Chris Powell announce Vegas's second NASCAR date. Image via reviewjournal.com

Shell vice president Rusty Barron and LVMS president Chris Powell announce Vegas’s second NASCAR date. Image via reviewjournal.com

Las Vegas Motor Speedway has found another sponsor for their spring race each season, replacing the Kobalt 400. Pennzoil comes onto the scene and will sponsor next spring’s race in the Pennzoil 400.

“Pennzoil is one of the most respected brands in the automotive industry. Like our speedways, Pennzoil has served generations of satisfied customers for decades,” said Speedway Motorsports Inc. CEO Marcus Smith, “We are proud to have Pennzoil among our stable of blue-chip marketing sponsors at Speedway Motorsports.” Pennzoil is the №1 synthetic oil brand in the US and has been among the leading sponsors in NASCAR as well as Team Penske Racing’s Joey Logano.

Known as a fan-favorite from the high-octane atmosphere from the strip and the good racing, Las Vegas has also proved a valuable location to sponsors.

Want more great content like this? Be sure to subscribe to our newsletter!

“Las Vegas has been a valued market for the Pennzoil brand in recent years,” said Rusty Barron, Vice President of Marketing, Shell Lubricants Americas. “During that time Shell featured numerous promotions around the annual Las Vegas race including several Pennzoil-exclusive paint outs on the №22 race car, customer events at the track, charitable efforts with Paralyzed Veterans of America and in-market promotions with key vendors.”

LVMS pre-race festivities Image via roadtrippers.com

LVMS pre-race festivities Image via roadtrippers.com

Along with the new sponsorship deal comes the addition of the highly sought-after second race at Las Vegas.

The new deal comes after a decision to remove New Hampshire Motor Speedway’s playoff race date due to inadequate attendance over the years.

The problems faced by New Hampshire seemed to fit hand-in-hand with what Vegas wanted. According to the tourism office proposal, last year’s Las Vegas NASCAR weekend attracted 96,400 visitors and produced an economic impact of $139 million.

Along with the new sponsor incoming, the Las Vegas Convention and Visitors Authority will pay Las Vegas Motor Speedway $1 million for the annual spring race, and another $1 million for the fall race plus the $500,000 yearly marketing fund. The proposed plan with Pennzoil will begin on January 1, 2018 and run through the 2024 NASCAR season, with the possibility to usurp Homestead-Miami as the championship race.

After the $2.5 million deal with the LVCVA to add the second race, the SMI owned racetrack will become the sixth 1.5-mile track on the ten-race playoff circuit next year, and with the new addition, Las Vegas as a city will make NASCAR history.

“The city of Las Vegas becomes the only city in the history of NASCAR to have two triple-header weekends,” said track president Chris Powell.

With the two tripleheaders and six scheduled NASCAR run series races for 2018, more than just race crowds and turnout allot from this. A climate like Las Vegas, Nevada will allow the people to spend weekends and money on the city and the sport, creating all around a good business model and well-needed exposure for NASCAR.

New Hampshire also loses its fall Camping World Truck Series race and Kentucky’s September Xfinity Series race will also move to Vegas as part of the new deal, according to NASCAR.

Per Adam Stern, last Sunday’s Kobalt 400 saw 6 million viewers, down from 7.2 million in 2016’s Las Vegas race. However, this was the third consecutive week that NASCAR had the highest sports viewership of the weekend.

With the addition of Las Vegas’s second race date, it joins three other Bruton Smith owned racetracks, Texas, Bristol, and Charlotte with two dates.

The Monster Energy Cup heads to Auto Club Speedway on Sunday for the third and final #NASCARGoesWest stint.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

F1 Las Vegas Grand Prix Viewership Falls in Year Two

The F1 Las Vegas Grand Prix drew 905,000 U.S. viewers this year.

Max Verstappen Wins Fourth Straight F1 Title Despite Red Bull’s Down Year

The driver clinched another championship at the Las Vegas Grand Prix.

Joey Logano Defends NASCAR Playoffs As League Reviews Format

Joey Logano won his third NASCAR Cup Championship on Sunday.

Michael Jordan’s Team Loses Bid for Temporary Injunction Against NASCAR

The teams can still compete, but will miss out on certain guarantees.

Featured Today

Nov 2, 2024; Denver, Colorado, USA; Detailed view of a Wilson NBA basketball held by a referee during the second half between the Utah Jazz against the Denver Nuggets at Ball Arena

‘Obvious Weak Point’: Refs Remain an NBA Gambling Concern

A season after Jontay Porter, the biggest risk may not be players.
Nov 2, 2024; Ann Arbor, Michigan, USA; Michigan Wolverines cheerleader runs with a flag before the game against the Oregon Ducks at Michigan Stadium.
opinion
December 7, 2024

College Football’s Billionaire Backer Era Begins

Is this the new normal in CFB recruiting?
LA Galaxy forward Dejan Joveljic (9) celebrates with midfielder Riqui Puig (10) after scoring a goal against Seattle Sounders FC in the second half in the 2024 MLS Cup Western Conference Final match at Dignity Health Sports Park
December 6, 2024

With or Without Messi, Major League Soccer Is Barreling Into the Future

After the Cup final, the league looks to accelerate its growth.
Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.
December 2, 2024

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.
Apr 7, 2022; Augusta, Georgia, USA; Rory McIlroy (left) and Brooks Koepka set up to putt on no. 9 during the first round of The Masters golf tournament.

PGA Tour vs. LIV Golf TV ‘Showdown’ Will Pay Out $10M Crypto..

Two golfers from each tour will face off in Las Vegas.
August 26, 2024

Cooper Flagg Spurns Nike Ties for New Balance

Flagg is the projected top pick in 2025.
Oct 29, 2024; Bronx, New York, USA; Los Angeles Dodgers first baseman Freddie Freeman (5) reacts after hitting a RBI single against the New York Yankees in the fifth inning during game four of the 2024 MLB World Series at Yankee Stadium.
October 31, 2024

Strauss Ads on MLB Helmets Annoyed Some Fans. CEO Says They Were a ‘Huge Success’

Strauss’s deal with MLB goes until 2027.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 22, 2024

Marketing Stunt Had Major Cycling Race Start In Grocery Store

The Vuelta has a history of creative stage kickoffs.
August 19, 2024

Jake Paul Claims He’ll Make $40 Million Off Tyson Netflix Fight

Paul and Tyson are set to fight in Texas in November.
August 16, 2024

Mets Bring Back Grimace in Latest Viral Gambit

Viral marketing is typical for the 2024 Mets, who have leaned in.
August 15, 2024

Saudis Make North American Soccer Inroads With Concacaf Deal

It’s PIF’s first North American soccer investment.