Coke- NASCAR partnership continues
Coke today extended its association with NASCAR by another ten years putting this deal in an entirely new league. The existing agreement between the two was to expire at the end of the year, Coca Cola spokeswoman Susan Stribling was quoted as saying. Until now all sponsorships entered into by Coke have been for 5 years, making this a new league. Earlier this year Coke entered into an agreement with the International Speed Corporation, being preferred over other soft drink major Pepsi. After that comes this strategic alliance which makes sure Coke has control over most tracks.
Along with using the NASCAR logo in its advertisements this move also allows Coke to market their various products as the official NASCAR drinks. Although exact financial details of the deal were not disclosed, the basic contents of the agreement are out in the open.
The deal means the relationship between NASCAR and Coke continues to flourish with both parties profiting from the alliance. NASCAR earns a lot of money from Coca Cola in terms of sponsorship deals, while adding the NASCAR logo to their products, continues to rake in the moolah for Coca Cola. There’s good news all around.
