Target leaving IndyCar and Chip Ganassi Racing after 2016
The most recognizable IndyCar sponsorship is ending at the end of the year.
Per the AP, Target will not return to Chip Ganassi Racing after the conclusion of the 2016 season. The company and team have had a sponsorship relationship for 27 years. The company has a new chairman and is looking at its sponsorship agreements per the report.
“It was a really difficult decision that we made — we’ve been with Chip Ganassi Racing for 27 years and we are ridiculously proud of the success,” [senior vice president Scott] Nygaard said in a telephone interview with The Associated Press. “But the Target brand is about being fresh and new, so we felt like this was the time to make the difficult decision and expand our sports marketing platform.”
Nygaard also apparently didn’t give any hints about the company’s Sprint Cup Series sponsorship of Kyle Larson, which could mean some bad news at the end of next season for Ganassi’s No. 42 team.
About the NASCAR sponsorship, Nygaard said only that Target is excited for the 2017 season with Larson. Target’s contract with Ganassi runs through next year.
The Target sponsorship in the IndyCar Series immediately became the most prominent sponsorship in open-wheel racing following the departure of Marlboro from Team Penske. The company currently sponsors the No. 9 driven by Scott Dixon and was a two-car sponsor at Ganassi for multiple seasons, including when champion drivers such as Dario Franchitti and Dan Wheldon drove for the team.
While NASCAR touts the number of Fortune 500 companies who have become sponsors, it’s fair to say that racing sponsorships are in the midst of a significant transition. And that transition is scary. Dollar General said it was leaving Joe Gibbs Racing and Matt Kenseth at the end of the 2016 season while companies like Aaron’s, GoDaddy and others have left the sport entirely and even more have cut back the number of races it sponsors.
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Nick Bromberg is the editor of From The Marbles on Yahoo Sports. Have a tip? Email him at [email protected] or follow him on Twitter!
