NASCAR season begins, and with fast cars came the equally quick multi-million dollar sponsorship deals. To the new race watcher, the sponsor logos might come off a bit distracting. From patches on driving suits to dashboards and hoods - almost anything that moves during the NASCAR race has a corporate logo.
It only means one thing - the sport attracts tons of money.
The Sprint Cup is considered as the biggest NASCAR event in the world. The Sprint races are the most expensive tournaments in the United States. A single race sponsorship costs businesses US$500,000 according to reports.
A company who sponsors a team can do so at a discount, provided that the sponsorship lasts for an entire season. However, the company has the liberty to choose where to put their logo, what color the car should be, and how the driver looks. A general sponsor such as Sunoco, however, supplies free gasoline for the cars during the single race.
The drivers also cash in big money during NASCAR season. In 2008, Jeff Gordon earned the most with US$17 million worth of endorsements and royalties. He also garnered US$15 million in salary and winnings, making his grand total profit amount to US$32 million.
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