Furniture Row Racing announced Wednesday that it is seeking sponsorship of the No. 78 car for next season with the announcement that 5-hour Energy will not return after this year.
5-hour Energy became the major co-primary sponsor this season on the No. 78 team with Bass Pro Shops/Tracker Boats for 30 Cup races. 5-hour Energy joined Furniture Row Racing in 2017, serving as a majority primary sponsor on the No. 77 car with Erik Jones.
Wednesday’s announcement comes just days after reigning series champion Martin Truex Jr. won at Kentucky Speedway for his fourth Cup win of the year.
5-hour Energy has been a primary sponsor in NASCAR for nearly a decade, including the seven in Cup.
Rise’ Meguiar, President of Sales for Living Essentials, parent company of 5-hour ENERGY, issued a statement on the business decision.
“Since joining Furniture Row Racing in 2017, the team has delivered on every promise. In addition to being a championship team, winning races and putting 5-hour ENERGY in victory lane multiple times, they have also become part of our family. We cannot thank Barney Visser, Joe Garone, Martin and the entire Furniture Row Racing team enough for the pride they have given us. They are a first-class group on and off the track. Although 5-hour ENERGY has made the business decision to leave NASCAR, we will be fans and friends for life, and we look forward to finishing strong in 2018.”
Said Joe Garone, president of Furniture Row Racing, in a statement:
“I want to first send a sincere thank you to everyone at 5-hour Energy for being an excellent and loyal partner. The way 5-hour Energy has activated its programs over the years demonstrated a commitment and creativity as a NASCAR race team sponsor. We understand that companies do change business strategies, but friendships last forever and that’s how we feel about 5-hour Energy.”
“Being a perennial championship contending team with a talented driver in Martin, Furniture Row Racing continues to be committed in offering a new sponsor not only success on the racetrack but also the benefit of a strong marketing platform with our powerful team of partners – Bass Pro Shops, Auto-Owners Insurance, Toyota, Furniture Row and Denver Mattress.”
This decision by 5-hour Energy comes as Truex’s contract with Furniture Row Racing ends after this season. He was asked last weekend at Kentucky about where things stood with a new contract.
“We’ve got some stuff to figure out, for sure,” Truex said. “I don’t plan on doing anything different. Just give the team some time to figure things out. We’re all kind of trying to figure it all out together so we can make it happen.”
So what needed to be figured out?
“Just sponsorship commitments and all the stuff that goes along with that,” Truex said. “Figuring out how much money we have to spend, when do we get it, how much are we getting and where can we spend it. Just trying to figure out all the details honestly. There’s a lot of puzzle pieces to be put together that we haven’t finished yet. Honestly, we haven’t been in a big hurry to get it done. In due time.”
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