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Posted by Tom on 10/30/2003, 11:44 am, in reply to "how does sponsorship work?"
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Auto racing is very expensive. Most people do not make enough money to pay their regular bills AND race competitivey on the weekends. Having a sponsor works like this: The sponsor gives you a certain amount of money. In return, you plaster the sponsors name all over your car, your racing suit, and you spit out there name each and every time you are interviewed at the track. This is ADVERTISEMENT, just like buying an ad in a magazine or a television commercial. By sponsoring a race car driver, an organization can market their service or product to thousands of people in the grandstand on any given weekend (Millions in the case of professional motorsports like NASCAR). The idea is that these thousands of people will notice the product, remember it, and generate business for the company. That's the benefit for the sponsor. The benefit for the racer is that they are given an often small amount of money that will help (and I emphasize HELP) pay for SOME of their racing expenses, such as parts, admission, gas, tires, a new helmet, etc...That's what your friend means by not actually keeping the money. All sponsorship money goes into the racecar, not towards a summer vacation. And as important as sponsors are, their contributions often make just a small dent in a racer's expense defecit. But every little bit helps.
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