What should athletes consider about sponsorship term length and contract structure?
Answered in: 2023 Drag Racing Sponsorship Summit Part 2The Answer
Athletes should think beyond single-event or single-season deals. One driver negotiated an 18-month name, image and likeness contract even though they only appeared on the car for 18 days, allowing them to continue representing and posting for the sponsor year-round to prove their long-term value. Starting with product sponsorships can grow into longer-term deals - one driver's two-year deal turned into a four-year deal by consistently delivering value. The commitment level (term length) can speak volumes even without increased money or product.
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