3 weeks Ago By Andrew Gamble
NASCAR has turned to LeBron James’ agent Rich Paul to help find a new title sponsor for the Xfinity Series. Xfinity recently announced it would be ending its title sponsorship of the Xfinity Series - which featured a big crash at the weekend - after the 2025 Cup Series season. Xfinity had been the title sponsor for NASCAR's secondary competition for over a decade in a $200 million deal.
At the same time that news emerged that Xfinity was scaling back its NASCAR title sponsorship, it emerged that Michael Jordan's 23XI Racing team, co-owned with Denny Hamlin and currently embroiled in a high-profile lawsuit against NASCAR, had stepped up its partnership with the same company. Rory McIlroy had simple message for Amanda Balionis after Masters heroics Chase Elliott points finger at repeat offender Bubba Wallace over NASCAR radio According to the Sports Business Journal , the original deal between NASCAR and Xfinity included roughly $10 million per year in rights fees and another $10 million on yearly activation commitments. However, now NASCAR is turning to Klutch Sports Group, which is run by James ’ agent Paul, to find their next partner.
Klutch Sports has been working behind the scenes with NASCAR over the last few years, on various ventures from merchandise collaborations to bringing influencers to races. But it seems Paul and co. are set to play a key role in finding the sponsor for the series.
Sign up to our NASCAR newsletter here. Klutch has already reportedly spoken to brands about a deal; NASCAR is seeking $10 million annually for rights fees plus a mid-seven-figure commitment to activation that would take a brand’s annual spend to at least around $15 million. NASCAR CCO Craig Stimmel said his team spoke with several agencies before securing Klutch.
Stimmel revealed that after NASCAR saw Klutch diversifying its business and moving into motorsports, including signing with IndyCar driver Josef Newgarden, he decided they were the perfect fit. Klutch will be the exclusive agency helping NASCAR sell the Xfinity Series asset. Xfinity is remaining in NASCAR as a premier partner for several seasons to come - and 23XI Racing renewed its partnership with Xfinity for the 2025 season.
This telecommunications company’s renewed partnership with 23XI will go beyond just having a car with a livery bearing Xfinity's branding. The Airspeed headquarters is where 23XI is based, and it will feature the newly-branded Xfinity Speed Center. Each team will communicate with each other and share data in an attempt to bolster race dynamics.
DON'T MISS Danica Patrick sent parting message to critics when she quit NASCAR Joey Logano and Ryan Blaney say same thing after meeting Donald Trump Hendrick Motorsports star wishes things 'could have gone differently' at Bristol Tyler Reddick, the 2024 Cup Series regular season champion, will have Xfinity remain a sponsor which is a welcome sight for the No. 45 driver. He said: “Typically, when you bring someone in that you’re going to work with, you meet new people, new faces, and with this, there’s a lot of familiarity.
“We’ve gotten to spend a lot of time over the years through running in the Xfinity Series. So for me, just really cool. I wouldn’t be here today, sitting here talking about this partnership, if I didn’t have those huge moments in the Xfinity Series, and so it’s just really cool that it’s come back around.
” Jordan, Hamlin, and Reddick will hope to continue getting one over on NASCAR when the Cup Series continues with the Jack Link’s 500 at Talladega on Sunday, April 27..
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