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Things aren't as dire on the American stock-car circuit. But without question, NASCAR, which kicks off its racing season with its most prestigious race, the Daytona 500, on Feb. 15, has stalled. More than any other major pro sport, NASCAR depends on corporate sponsorships to fund its operations. Those logos splashed all over a driver's racing suit aren't just for show. The sponsorship has grown to the point where the more corporatized circuit has alienated a portion of the sport's beer-drinking core. And as these companies pull back on their marketing budgets...
...decrease in demand for workers and parts does have an upside for those still in the race. "The parts we buy are in some instances half-price from last year, so your $600,000 engine program may cost $300,000 this year," says Kalik. "Same engine, same everything - just tremendously less demand. Therefore the engine builders and chassis builders are hungry for the dollar, so they'll work for less...
...tracks are also discounting to spur foot traffic. At Daytona, the cost of backstretch seats was reduced from $95 to $55, the lowest price since 1995. Race organizers negotiated with local hotels to eliminate minimum-five-day stays. Organizers in Charlotte, N.C., have also persuaded the city's hotels to reduce rates for the two Sprint Cup races at Lowe's Motor Speedway (LMS). According to LMS president Marcus Smith, the track not only dropped prices in some sections but also refunded the difference to fans who had already purchased, an effort, he says, to show loyalty to the customers...
NASCAR's popularity exploded, in part, because it's one of the more fan-friendly major sports in the country. The drivers are often remarkably accessible, even signing autographs for fans on race days. NASCAR may need to get even cozier with them. As NASCAR raced to the top of the American sporting scene, it might have taken its base a bit for granted. "We need to engage the fans with more passion," says driver Jeff Burton, a 17-year Sprint Cup veteran. "We need to be creative, to come up with better ideas." One thought officials are kicking around...
...systemic change,” Yoon said in a December interview. “There is only one way to accomplish that: by changing leadership.” Menino, who was first elected mayor in 1993, has served four terms thus far. His biggest potential challenge in the upcoming race will likely be city councilor and former city council president Michael F. Flaherty, who officially announced his intention to run in late January. South End businessman Kevin McCrea will also be joining the race. Yoon faces a number of obstacles in his campaign. In addition to being a political...