NASCAR and Monster Energy agreed to a new sponsorship agreement from Las Vegas, Nevada on Thursday evening, per an announcement on the organization’s official website.
The financial terms of the new multi-year deal were not disclosed, but the specifics of the agreement are clear. Monster will have naming rights to the organization’s top series, sponsorship over their All-Star competition and will become known as the official energy drink of NASCAR.
“Monster Energy is a brand built on excitement and enthusiasm, qualities that align with NASCAR,” said NASCAR’s chairman and CEO Brian France. “This sponsorship position is the most unique in all of sports and entertainment, and we are thrilled to have a partner that will help us further elevate the series. Today’s announcement is the culmination of a thorough search, one that resulted in the right partner at this important time in our sport’s history.”
The renowned racing organization has been going through a lengthy negotiaition process after Sprint’s contract as the primary sponsor ended back in May.
Monster has existing sponsorships with a number of motorsports sanctioning bodies, including teams and individual athletes. This deal with their latest client represents the biggest deal in the history of the energy drink company.
“Monster has built its brand on racing and motorsports, and NASCAR is the pinnacle of motorsports in America,” said vice president of sports marketing at Monster Beverage Company Mitch Covington. “It’s American racing; we’re an American brand that’s a global company, and NASCAR is, too. When the opportunity came along to further associate yourself with a sport like NASCAR, it was the perfect fit for us.”
While more details surrounding the financial nature of the deal have yet to be revealed, they are expected to be brought to light sometime in the near future.