Number 9. Brian France, CEO and Chairman of NASCAR
No. 9: Brian France, CEO and Chairman of NASCAR
Between the 1972 and 2003, William France, Jr. turned ordinary stock car auto racing into an empire- with the highlight being a record setting $2.4 billion television contract for the 2000 Season. When France stepped down from the NASCAR reigns in 2003, he handed the operations over to his son- Brian France. Brian now presides over one of the most powerful sports governing bodies in the country, with thousands of fans, billions of dollars in revenue and the ever present room to expand.
NASCAR has long been known to be advertiser’s dream. No other sport has had as much brand loyalty with sponsors as NASCAR fans have exhibited over the years. According to a survey conducted by Sports Business Daily, “nearly 50% of NASCAR fans are more likely to use a specific product or service if that product or service is a NASCAR sponsor, and over 55% of those fans have more loyalty and brand affinity toward that product or service if it is a NASCAR sponsor.” This has enabled France and the rest of NASCAR to reap huge revenues from sponsorship sales. More Fortune 500 companies sponsor NASCAR than any other sport and as a result, NASCAR also enters extremly large television contracts- with the highest now being a $4.5 billion deal- twice the size of Brian’s fathers contract.
The last couple of years has shown that NASCAR is vunerable, despite their huge success with sponsorship sales. Television ratings are down across the board. The bad economy has hit attendance- where now fans were not willing to trek hundreds of miles to the nearest race track. Sitting on a machine with enormous potential, France has been brainstorming of ways to increase NASCAR’s popularity and connection with its loyal fans. France started an office in Los Angeles to connect NASCAR with the entertainmet industry(ever heard of Ricky Bobby). He has established an online presence with NASCAR as a way to connect fans to the sport and, more importantly, to the sponsors. This is most important in the road ahead as NASCAR tries to regain control of its extremely loyal fanbase.
U.S. Army is one of NASCAR's many sponsors. Paying $11.4 million earlier this year to get in front of NASCAR's loyal fans.
