NASCAR reports 114 Fortune 500 companies are invested in the series

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Eric Mauk

After seeing that nearly half of the world's biggest companies are aligned with Formula 1, NASCAR today put out a cryptic release stating that 'more Fortune 500 companies are involved in NASCAR than in 2008'.

The release went on to say that 'the number of current Fortune 500 companies invested in NASCAR (114) remains higher than any other sport. In 2012 alone, more than 24 brands entered the sport, including a handful of Fortune 500 companies.', and that 'several global corporations' are also involved that didn't score points in this study because they are not U.S. based and are not publicly traded.

“There are more opportunities for companies to become involved as sponsors in NASCAR now than there were four years ago, when there was a different dynamic in both the economy and media and marketing landscape,” said Steve Phelps, chief marketing officer for NASCAR. “We have the most brand loyal fans in all of sports. More than three out of five avid NASCAR fans agree that even in tough economic times, they will continue to support NASCAR sponsors over other brands.”

The companies in consideration actively utilize NASCAR as marketing vehicle through a team, track or NASCAR official sponsorship, licensing agreement and/or a media partnership.

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About this article
Series NASCAR-CUP
Article type Breaking news
Tags fortune 500, nascar, sponsors