Wednesday, October 22, 2008

NASCAR Sponsorship Being Sold on eBay

Hard economic times continue to take a toll on professional sports, an industry once thought recession-proof. But nobody's had it worse than NASCAR, as the circuit's drivers continue to hemhorrhage sponsors while fans struggle to get to the track, thanks to escalating gas prices and travel costs. "It costs about $25 million to be the primary sponsor of a car," wrote's Lars Anderson earlier this month, "and in this harsh economic climate the competition among owners to attract sponsors is every bit as fierce as the paint trading on the track." In this survival-of-the-fittest environment, one marketing company is getting creative with its approach. Racing Aces Marketing is selling the sponsorship rights for J.J. Yeley's race car on popular auction site eBay. The auction was posted this morning with a Buy It Now price of $12,000,000.00, more than a 50 percent discount according to Anderson's figures. (And no payments until 2009 with an eBay MasterCard!)

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