Report: Target reducing primary sponsorship of Chip Ganassi Racing’s No. 42

Photo by Christian Petersen/Getty Images

Primary sponsor Target is reducing the number of races it will be on the No. 42 of Kyle Larson in 2017, according to a report by the Sports Business Journal.

The report says Target is rolling back its sponsorship of the Chip Ganassi Racing team by somewhere between five and 10 races. The arrangement, a mutual decision between team and sponsor, is “to allow other companies to work with” Larson, who will be competing in his fourth full-time season in the premier series.

Target’s current deal with CGR in NASCAR expires after 2017.

The move comes after Target withdrew its sponsorship of CGR in the Verizon IndyCar Series after a 27-year relationship in open-wheel racing.

“It’s something that we worked on together,” CGR President Steve Lauletta told the Sports Business Journal. “It allows Target to continue to market their brand in a big way with Kyle Larson, our team and NASCAR — but allows us a little more flexibility to react to opportunities that were coming the team’s way. Everybody should benefit from that.”

The No. 42 was also sponsored in 2016 by Energizer batteries, Huggies, Axe and other companies Target works with.

Larson qualified for the Chase for the first time in 2016 after earning his first premier series win in August at Michigan International Speedway.

Click here to read the full report from the Sport Business Journal.