Nike’s ‘Starter’ brand to pull out of NASCAR
Quote selected text Published August 23rd, 2007 in NASCAR News
Starter, whose goal was to make its brand synonymous with NASCAR, has decided not to pursue more deals in the sport.
Starter, Nike’s value brand of footwear and apparel, claims to provide 70 percent of the footwear worn by NASCAR crews, and it had pledged to strengthen its position in the sport last January when it signed a three-year contract with Joe Gibbs Racing.
But seven months into that relationship, Nike executives have decided not to continue seeking business deals in NASCAR. A Nike spokesman said Starter will fulfill the terms of its deal — providing uniforms, footwear and apparel — with Gibbs Racing through 2009. No financial terms were available.
“We’ve decided not to pursue future business opportunities within NASCAR,” Nike spokesman Alan Marks said. “It’s a corporate decision based on our long-term growth strategy.” No other specifics were available.
- Starter apparel signs deal with Joe Gibbs Racing
- Petty named honorary starter of Daytona 500
- BMW Sauber Set to Lose Mobile Phone Sponsor O2
- DW named starter for the Gatorade Duels
- Gordon, Petty to serve as honorary Atlanta race officials
The pattern continues. What goes up, must come down!
Dont be surprised if this is not going to be the start of an alarming trend. Sponsors pulling out of NA$CAR. With all the issue over At&T/ Cingular going very bad for both parties, I see money other sponsorship situations getting another look over. Many I feel will pull out and cut their losses before the you know what hits the you know where. Anyone else agree or disagree. Let the banter begin.
Not a original idea there Scott. This is a trend that has been predicted for a while now. ATT is the BOLD PRINT on the wall so to speak.
Others will surely follow seeing how A$$CAR is dealing with this mess.
The market trend of brand names and corporations being bought out has been going on in wall-street for the last couple of years. As companies are bought out or broken up and sold off names of products and owners will inevitably change. All of this will trickle down to NASCAR Sponsers as well and then let the games begin,,,