• Loading stock data...
Monday, July 22, 2024
Join us this September for Tuned In Request to Attend

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

After Long-Term French Open Deal, What’s Next for TNT Sports?

A 10-year rights deal for the French Open immediately becomes the longest in Warner Bros. Discovery’s portfolio.

Indy 500 Delivers Record Payout and Sees TV Viewership Boost

A record purse, viewership increase provide a strong coda to the weather-delayed race.
Daytona 500 for the Highest Paid NASCAR Drivers

The Highest-Paid NASCAR Drivers

Hendrick Motorsports has the most drivers on the highest-paid NASCAR drivers list.
podcast thumbnail mobile
Front Office Sports Today

WNBA ASG, Paris Olympics Continue Rise of Women’s Basketball

0:00

Featured Today

July 20, 2024

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
Apr 15, 2024; Brooklyn, NY, USA; Caitlin Clark poses with WNBA commissioner Cathy Engelbert after being selected with the number one overall pick to the Indiana Fever during the 2024 WNBA Draft at the Brooklyn Academy of Music.
July 16, 2024

Women’s Sports Merch Is a $4 Billion Market, but Supply Isn’t Meeting Demand

Retailers can’t make women’s sports apparel fast enough.
Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.
July 14, 2024

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.

Lamar Jackson, Troy Aikman in Legal Battle Over the Number Eight

The two quarterbacks both have trademarks with the number.
July 9, 2024

Arch Manning Will Be in EA’s ‘College Football 25’ After All

The NCAA’s most famous backup had previously opted out.
July 11, 2024

Everything To Know About the Jaylen Brown–Nike-Olympic Beef

It starts, as it often does, with a carefully parsed emoji.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
June 26, 2024

Hot Dog PR Mavens Claim Joey Chestnut Beef Is All Real

The Shea brothers insist the Chestnut drama is genuine.
June 13, 2024

Everything You Need to Know About the Schism Rocking Competitive Eating

The business story about hot dogs that you never knew you needed.
June 12, 2024

Fanatics Dives Into Ultra-Niche With G League Trading Cards

The company will take over the NBA license in 2025.
May 21, 2024

Lawsuit: Florida Football Coaches Made False NIL Promises

The quarterback says UF backed out of a $13.85 million NIL agreement.