Monster Energy is “evaluating’’ its NASCAR sponsorship and if to remain with the series beyond this season, Rodney Sacks, chairman and chief executive officer of Monster Beverage Corp., said at an investor meeting Thursday.
NASCAR President Brent Dewar said earlier this month on Motor Racing Network’s “NASCAR Live” that the sanctioning body has given Monster Energy an extension to determine if it wants to remain the series sponsor after this season.
Last year marked Monster Energy’s first year as series sponsor. The company reportedly has a two-year deal with a two-year option.
At the investor meeting Thursday, Sacks said of its NASCAR sponsorship:
“We also commenced this last year with a principle NASCAR sponsorship, as I’m sure you’re aware. That was an interesting change for us. I think it afforded us extensive exposure to many more consumers who would not ordinarily have followed the sports we have been active in.
“We are continuing our sponsorship this year of NASCAR. We are evaluating where we are with the NASCAR sponsorship going forward in ’19 and thereafter. We’re busy in discussions at the moment with NASCAR and looking at and deciding what will be the best way forward for us as a brand. Certainly this year we’re fully vested and we’re excited about the opportunity for the brand and continuing to establish our presence in NASCAR and with the NASCAR consumer.’’
Monster Energy also is a sponsor of reigning Daytona 500 champion Kurt Busch.
Four-time Formula 1 champion Lewis Hamilton and NHRA Top Fuel champion Brittany Force are among the Monster Energy athletes. The company sponsors a number of athletes set to compete in the Winter Olympics, primarily in skiing and snowboarding. Monster Energy also increased its sponsorship in the Professional Bull Riders to be the title sponsor this year of the series in the U.S., Australia, Brazil and Canada. UFC announced this week that it has renewed its global partnership with Monster Energy with a multi-year extension.