Which NASCAR team generated the most sponsorship revenue in 2024?
Latest reports suggests that Joe Gibbs Racing and Hendrick Motor Sports were the teams that secured the most sponsorship revenue in 2024.
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JGR generated the most sponsorship revenue in 2024 (Image via IMAGO)
Just like every other motorsport championship around the world, sponsorship is the important factor behind the success of all the team in the NASCAR Cup series. They have to secure enough financial support to cover the operational cost of racing in the premier stock car racing, with the Next-Gen cars making the competition closer.
Recently Black Book Motorsports has released a set of data, that revealed which team made the most sponsorship revenue in the 2024 season. Toyota giants Joe Gibbs Racing came at the top of the list with $116 million revenue, while Chevy giants Hendrick Motorsports came in second with $102 million.
Ford side Team Penske Racing secured $86 million, coming in fourth as Stewart Haas Racing that ceased operation in 2024 had a revenue of $91 million, came at third. Richard Childress Racing made $53 million, Front Row Motorsports made $43 million, Kaulig Racing made $41 million, RFK Racing made $39 million, Legacy MC made $36 million while 23XI Racing is 10th in the list with $35 million revenue.
They also published data about the sponsors that has invested the most into the sport. Goodyear is the major spender with $25 million, while Xfinity came in second with $20 million investment while Chevy came in third with $18 million investment. The team sponsor that spends the most is Coca Cola that has invested $16 million supporting the teams.
RCR and Penske experienced major revenue loss in 2024
For the top teams RCR and Team Penske Racing, the 2024 season was a major disappointment in the financial side. Penske was the team with the most sponsorship revenue in the 2023 season, with an astonishing $140.94 million. But they lost 39 per cent of the revenue in 2024, putting them P4 in the list with $86.63 million revenue coming in.
Legendary Chevy team Richard Childress Racing also experienced a significant drop in their sponsorship revenue, which aligned with their drop in performance on the track. They had secured $104.55 million revenue in 2023, but it dropped down to $52.9 million, a mega 49 per cent drop in 2024.
But these teams will have the opportunity to come back in 2025 by roping in the sponsors of Stewart Haas Racing, that ceased operations. They should also look into how JGR and HMS were able keep their revenue share from dropping in the 2024 season.
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Justin P Joy
(4913 Articles Published)