Monster Energy will take over for Sprint as the title sponsor for NASCAR’s premier series, NASCAR CEO Brian France announced in Las Vegas on Thursday afternoon.
France did not get into specific terms of the deal, but did say that it was a mutli-year deal with “a few options.”
Monster Energy becomes the title sponsor at an interesting time in the sport. With falling ratings and shrinking crowds, Monster is a brand that appeals to a younger demographic. Many hope it may be able to bring Millennials to the track, one of the most sought-after demographics.
France said that Monster’s qualities align with the sport’s.
“Monster Energy is a brand built on excitement and enthusiasm, qualities that align with NASCAR,” France said. “We are thrilled to have a partner that will help us further elevate the series.”
Monster Energy is not new to sponsorships across all forms of motorsports. Monster sponsors athletes in Formula 1, motocross, professional bull riding and Monster Jam.
Monster has been involved with NASCAR for multiple years, with sponsorships across numerous levels of the sport. Along with the title sponsorship for NASCAR’s top-tier series, it will continue to sponsor Kurt Busch in the Cup Series and Kyle Busch in the Xfinity Series with its NOS Energy brand.
Rodney Sacks, Monster Beverage Chairman and CEO, said the sponsorship was the next step in their involvement.
“Monster Energy has an established and versatile history in motorsports, and we’re thrilled to take this historic next step,” Sacks said. “We feel strongly that our brand is a perfect fit for this sport and its star athletes.”
France did not announce the name of the series, but it has been rumored that NASCAR would be willing to drop “Cup” from the name. France said a name and logo would be unveiled in the near future.
The deal with Monster will also include naming rights for the All-Star Race run at Charlotte Motor Speedway in May, but the name has not been announced.