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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2023 Drag Racing Sponsorship Summit Part 2
Session 2 of the 2023 Drag Racing Sponsorship Summit (March 28, 2023): Successful Activations — leveraging sponsorships through activation that keeps brands renewing. Hosted by Alex Striler with Megan Meyer (NHRA champion, Driven By Social Academy), NHRA champion Ron Capps (NAPA Auto Parts), Dystany Spurlock (BMW), and Chris Bishop (Sea Foam).
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