2024 Motorsports Sponsorship Summit Part 3: Fifth Third Bank, EPIC Racewear, BELL & Optima Batteries

Banks like Fifth Third Bank primarily seek access to businesses associated with motorsports rather than consumer exposure. They target other race teams in the same series, race tracks, corporate sponsors running in the series, and suppliers to the sport. The sponsorship gives them warm introductions instead of cold calls, making them an authentic part of the motorsports community. They expect to become the team's primary bank, providing lending services, treasury management, cash management, credit cards, and deposits. They look for a 3-5x return on investment, with direct revenue from banking relationships with the team and its ownership, plus additional business from introductions the team can make.

According to Fifth Third Bank's David Morton, sponsorships should be viewed in three-year increments minimum. He emphasizes that any team claiming they can deliver ROI in one year is not being truthful, and any sponsor expecting returns in one year doesn't understand how sponsorships work. It takes time to build the relationships and formal co-partnerships needed to approach customers effectively. Fifth Third's NASCAR partnership is entering its 12th season because they continue to see returns, and they've even increased their investment over time.