NASCAR, Comcast reach 10-year series entitlement agreement

Discussion in 'Sports Programming and Events' started by James Long, Sep 4, 2014.

  1. James Long

    James Long Ready for Uplink! Staff Member Super Moderator

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    NASCAR, Comcast reach 10-year series entitlement agreement
    September 03, 2014, Official NASCAR release, NASCAR.com

    Matches longest single series title sponsorship pact in the sport's history

    DAYTONA BEACH, Fla. and PHILADELPHIA, Pa. (September 3, 2014) -- NASCAR and Comcast (Nasdaq: CMCSA, CMCSK) announced today a historic agreement that will make Comcast's XFINITY brand the title sponsor of what is now known as the NASCAR Nationwide Series through 2024. The 10-year term matches the longest single agreement around title sponsorship of any NASCAR national series in history, and is the longest entitlement sponsorship agreement in this series' history.

    Beginning January 1, 2015, the property will be known as the NASCAR XFINITY Series. XFINITY will become only the third title sponsor in series history following Anheuser-Busch (26 years) and Nationwide Insurance (seven years). The agreement also makes XFINITY an Official NASCAR Partner in the multichannel video programming distributor (MVPD) and broadband ISP categories.

    Full Press Release
    http://www.nascar.com/en_us/news-media/articles/2014/9/3/nascar-comcast-reach-10-year-series-entitlement-agreement.html
    (Caution: Video on linked page)
     
  2. James Long

    James Long Ready for Uplink! Staff Member Super Moderator

    49,842
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    More from:
    http://www.sportingnews.com/nascar/story/2014-09-03/xfinity-deal-contract-series-sponsor-200-million-nbc-tv-rights

    NASCAR Chairman Brian France declined to comment on financial details of the deal, which was reported by the SportsBusiness Journal as being worth close to $200 million over 10 years. The deal would average $10 million a year to NASCAR, which includes a hefty amount to the season point fund.

    The deal also includes a marketing spend at an average of $10 million a year, but that likely will be counted against Comcast’s marketing commitment as part of its television deal with NASCAR. Comcast’s NBC and NBC Sports Network will televise the final 20 Sprint Cup races and the final 19 Xfinity Series races each season from 2015-2024 at an average rights fee of $440 million a year. France would not confirm that aspect of the deal.

    ---

    So in 2014, NASCAR will have the Xfinity Series racing on NBC and NBC Sports Network. And as a type exclusive sponsor, this prohibits any Xfinity Series team from having a sponsor who competes with Xfinity (such as DirecTV, DISH, etc) unless they are already a sponsor this year and wish to continue.
     

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