NASCAR makes major new hire as it targets $15 million title sponsorship

NASCAR has brought on the help of Klutch Sports Group, an agency founded by Lebron James' Rich Paul, to find a new title sponsor for the Xfinity racing series. The outfit is seeking $15 million annually for a new partner for the second-tier racing league.

Klutch Sports Group will act as its exclusive sales agency, tasked with finding a new title sponsor to replace Xfinity beginning in 2026. Currently, the group manages over 200 athletes globally, and leveraging its success through the NBA superstar, is looking to continue its success for NASCAR. 

This isn't the first time the company has worked with NASCAR. Previously, they've worked with the sport on its merchandise and bringing celebrities and influencers to its events across the country. And earlier this year, in February, it brought on two-time Indianapolis 500 winner Josef Newgarden as its first client from the world of motorsport.

Talking to Sports Business Journal, the driver said the following:

“I think it’s a good intersection in time for both of us. Klutch is a prominent placement in sports and I got a lot of respect for Rich Paul and everything that they’ve built, and I’ll go right to the top -- I admire the greats of sport including people like LeBron James.

William Sawalich, Joe Gibbs Racing Toyota

Photo by: Sean Gardner / Getty Images

"I’m never shy to say that that’s why I’m in racing -- that’s why I wake up every day to compete is I want to be the best that’s ever done it. That’s the type of motivation I try to carry every single day to the track.

"So I think this collaboration and partnership between us will accelerate what I’m doing off the track and can help propel our series even further, which is ultimately what I want to see happen, I want to see IndyCar be brought back to the forefront of motorsport. I believe in it; it’s not a dream or wish.

"It was a reality 30 years ago, and I think it deserves its place back at the front of the pack.”

According to a number of sources, including Sports Business Journal, the racing series is expecting a $15 million annual deal. This would be made up of $10 million in rights fees, and $5 million in marketing and promotional activities. This would be a little less than the reported $20 million annual value of the current partnership with Xfinity. 

With Xfinity being in NASCAR since 2015, a seven-year partnership with Nationwide Insurance and a 26-year deal with Anheuser-Busch before that, this would see a historic change for the series.