NASCAR announced Tuesday afternoon (April 10) that Monster Energy has agreed to a one-year contract extension that will see the energy drink company continue as title sponsor of the Monster Energy NASCAR Cup Series.
In addition, Monster Energy will remain as the official energy drink of NASCAR.
Financial terms of the agreement were not released.
“NASCAR and Monster Energy enjoyed a productive first year and both parties have benefited significantly from the partnership,” said Steve Phelps, NASCAR’s COO, in a statement announcing the renewal. “Monster Energy successfully utilized our sport as a platform to elevate its brand and drive business, while introducing NASCAR to new audiences. With this renewal, we look forward to building upon our early success.”
For Monster Energy, sponsoring the Monster Energy NASCAR Cup Series puts itself in front of a different audience.
“Over the past year, NASCAR’s passionate and brand loyal fan base embraced Monster Energy and we are excited to be able to continue to build on and strengthen that momentum through 2019,” Rodney Stacks, CEO and chairman of Monster Beverage Corporation, said. “Racing is in our DNA and extending this partnership further establishes Monster Energy’s prominence in motorsports.”
Beyond 2019, the future of title sponsorship in the Monster Energy NASCAR Cup Series is unclear. According to ESPN, Phelps doesn’t believe that Monster Energy will remain in its current capacity beyond the end of 2019.
Overall, corporate sponsorship on NASCAR’s level is still solid. Camping World is under contract to sponsor the Truck Series through 2022, and Comcast’s XFINITY service is sponsoring the XFINITY Series through 2024. In addition, NASCAR has a number of official brands of NASCAR in many different industries.
About the author
Phil Allaway has three primary roles at Frontstretch. He's the manager of the site's FREE e-mail newsletter that publishes Monday-Friday and occasionally on weekends. He keeps TV broadcasters honest with weekly editions of Couch Potato Tuesday and serves as the site's Sports Car racing editor.
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