Three weeks ago, Dale Earnhardt Jr. announced that his move to the Hendrick Motorsports team would come with a new endorsement from Sony (NYSE: SNE). At the time of this revelation, the popular NASCAR driver was notably mum on his standing contract with Anheuser-Busch (NYSE: BUD), whose Budweiser brand has adorned the hood of Earnhardt's car since 1999. This weekend, Hendrick team owner Rick Hendrick shed some light on matter, saying in a statement to reporters: "We have agreements in place with sponsors for the 2008 NASCAR Sprint Cup season, which prevent us from having a relationship with Budweiser ... " While there is a deal in place with Sony, Earnhardt's primary sponsorship has not been announced, nor is there a timetable for doing so.
Meanwhile, Anheuser-Busch is looking beyond its former partner to its next endorsement. Wishing Earnhardt the "very best," an Anheuser-Busch executive told reporters that "Budweiser will remain an active sponsor of NASCAR, and we look forward to building upon the legacy of the iconic Budweiser red car in 2008 and beyond."
Beth Gaston Moon is an analyst at Schaeffer's Investment Research.
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Reader Comments (Page 1 of 1)
7-16-2007 @ 3:45PM
Pat Payne said...
Hi I wish Dale Jr. could keep the #8 car hes had Bud sponcership for 8 years but im hanging with Jr.with whatever he does .Hes been my driver for year as has his dad .I love Budweiser and there beer lol so i wont be changing that .Anyway you people have great coverage so keep up the great reporting all of us Earngardt fans appreciate the day to day reports....thanks again and have a great week........Pat Payne........Portland ,Oregon
7-16-2007 @ 4:26PM
Richard said...
It does'nt really matter what junior does, Nascar is dying, thanks to the inception of Toyota. It would be in his best interest, to find a new hobby.
7-20-2007 @ 3:17PM
Doris said...
jr i really do luv u as a car raceer but i do luv u u are#1 with me and u allways will be i hate tha u won't be in tha red car i luv it to. luv u lots Doris yes i luv u jr cause i watch tha race all tha time. and it has been bad but i'm with u on what ever u do.
8-16-2007 @ 6:00PM
mkhbmw said...
Dale Jr. You are no.1 in Nascar, it doesn't matter who your sponsor is as long as you are happy. It is your life. Go for the Cup! You will overcome anything and everything. I will always be your no 1 fan. NY model and Cover girl. MKH