PURE MICHIGAN, the US state’s tourism board, has inked a three-year renewal agreement with NASCAR for the title sponsorship of the Sprint Cup Series race at the Michigan International Speedway.
According to The Detroit News the deal is valued at $4.2m over the three-year term.
The new deal, a renewal after Pure Michigan first title sponsored the race in 2011, also includes naming rights negotiated separately with race broadcaster ESPN, and will see the brand gain extensive national exposure through repeated commentary mentions. The broadcast deal for rights to the race is reported to have cost ESPN around $2.5m.
Although not the most lucrative of title sponsorship deals on the Sprint Cup circuit, the deal is indicative of a change in fortune for NASCAR in recent months. The Series saw improvements in 2011 after a four-year slide in track attendance and television viewership in preceding years.
From a brand perspective the sponsorship is part of a wider marketing strategy to push the merits of Michigan as a tourist destination across America. This includes, among other initiatives, an $11.5m television advertising campaign and a soon-to-be released Pure Michigan ice-cream flavour.
Elsewhere in NASCAR this week, TAG Heuer Eyewear has agreed a deal with Phoenix Racing driver Kurt Busch for a three-race period. Frontloaded values the deal at around $300,000.