Wal-Mart seals deal with NASCAR
Wal-Mart Stores Inc., the largest retail store chain in the US has launched a licensing and retail deal with NASCAR for the exclusive distribution of products related to the popular stock car racing circuit.
The largest retail store chain in the United States has launched a licensing and retail deal with NASCAR for the exclusive distribution of products related to the popular stock car racing circuit.
Dubbed as “Race Time,” the new promotional program will commence simultaneously with the opening of the Daytona 500 race on Sunday – the official start of the 2011 NASCAR season.
The product promotion was the largest retail deal for NASCAR with more than 1, 500 Wal-Mart stores offering its merchandise. However, the circuit did not disclose the financial terms of the agreement.
For several years now, the retail giant has been carrying NASCAR items. But the company said that the new deal expanded its offerings with additional exclusive gear and related appearances and offers.
Wal-Mart stores will offer such NASCAR-branded products as T-shirts, racing flags and tailgating food and beverages, with more online at www.Walmart.com/NASCAR.
Also, low-priced ticket packages will be available online for some NASCAR Sprint Cup Series races.
The multi-year deal also aimed to tap at least 75 million NASCAR fan base, which according to studies, strongly supports corporate sponsor backing the sport of car racing.
For the past two years, the car racing circuit has undergone tough times as TV rating continued to decline, as well as race attendance, which was curtailed by budget cuts.