Fanatics has terminated its ten-year trackside sponsorship deal with Nascar six years early as a result of low race attendances, according to a report from Sports Business Daily.
The deal, which was signed in 2015 and was set to run through 2024. Fanatics had been managing the selling of merchandise at the race venues in 2015 as part of the deal. However, financial projections have fallen amid Nascar’s struggle for both sponsorship and soft on-site interest from fans. Fanatics had attempted to restructure the arrangement with Nascar, according to the report.
Nascar president Steve Phelps told Sports Business Daily in a statement: ‘In collaboration with teams and tracks, we are in the process of finalising a plan for a new trackside merchandise model for 2019 that will serve and engage fans at racetracks across the country.’
Fanatics will continue to manage Nascar’s e-commerce online sales site, which it has maintained since 2003.
