Exiting NASCAR Truck Series Title Sponsorship After 2008
By: Mike Levine Posted:
12-05-07 10:11 PT
© 2007 PickupTruck.com
Autoblog and Winding
Road are both pointing to NASCAR news stories this morning that
Sears Holdings, and its Craftsman Tools brand, will drop its sponsorship
of NASCAR's Truck Series after the 2008 racing season. Craftsman has been the Truck Series title sponsor since 1995.
Holdings has faced persistent financial problems for several years.
It announced last week that third quarter profits dropped 99-percent,
from $196-million last year to $2-million. The Craftsman sponsorship
is estimated to cost Sears Holdings about $4 million a year, according
to Street & Smith's
known if exiting the title sponsorship slot is related to these financial
results, but Sears has said Craftsman will continue to participate
in the Truck Series in some manner in 2009.
BEACH, Fla. (Dec. 4, 2007) – The National Association
for Stock Car Auto Racing has begun marketing entitlement sponsorship
of the NASCAR Craftsman Truck Series beginning with the 2009 season.
follows a decision by Sears that its Craftsman brand will forgo its
sponsorship rights following the 2008 season.
"Craftsman has been a great, longstanding partner and intends
to remain in the sport," said Steve Phelps, NASCAR Chief Marketing
Officer, in a joint announcement with Sears. "The current series
name will continue through the 2008 season with the same great commitment
Craftsman has demonstrated throughout its 13-year history as the series'
"The NASCAR Craftsman Truck Series represents some of the
world’s best racing; the season championship has been determined
in the final race of the year in 12 of 13 seasons – including
2007," Phelps said. "The series continues to attract some
of NASCAR's most avid fans because of its intense, side-by-side
"Craftsman has been the sponsor of the NASCAR Craftsman Truck
Series since its inception in 1995 and since then we have developed
strong relationships with millions of loyal NASCAR fans we value greatly," said
Scott Howard, Manager of Marketing Partnerships for Sears. "While
we will be relinquishing title sponsorship of the NASCAR Craftsman
Truck Series at the end of 2008 we continue to explore new opportunities
series just wrapped up a successful 13th season of 25 races at 22
tracks in 19 states from coast-to-coast. Ron Hornaday Jr. won his
third series championship with a record $1,137,044 in winnings.
The NASCAR Craftsman Truck Series is carried live by SPEED with
two events broadcast live by FOX.