Nascar and Monster Energy held a press conference that announced the super giant drink company, Monster, will be the title sponsors for the 2017 racing year. This agreement is huge for both brands. Not only is Monster being placed on all 36 series races, Nascar Chase playoff format, and the annual all star race but for Nascar they’ve brought on a juggernaut of a company.
Monster is a global brand. They’re edgy, fun and bring in the younger generation audience. This is huge for Nascar, since for the most part, it’s based more towards the middle aged society. There hasn’t been an official name that has been decided on for the series. Many rumors circulating around the brand new news is it will be, Nascar Monster Premium Series, because “Monster Cup” sounds something off the shelves of a 7/11 or geared towards some monster truck event that might be in town for the weekend.
The details of the agreement hasn’t been released yet but for many Nascar sponsors their contracts last for several years. The last sponsors, which was Sprint, had been paying an estimated $50 million a year for naming rights. CEO Brian France said, “We’re quite pleased with this agreement.” Mark Hall, Chief Marketing Officer for Monster Energy said, “We’re really looking forward to a great future together. We look at this as a rare opportunity that does not come along every day.”
Indeed it is a rare opportunity for both brands. Monster is known world wide as I’m sure so is Nascar. With both of those moguls joining forces it’s hard to believe the market for money won’t be spilling out of each other’s pockets. All in all this should be a good investment and partnership for both sides.