Camping World Extending Deal With NASCAR
Sports Business Daily reported that the recreational vehicle retailer, which became title sponsor of the series in 2009, signed a seven-year extension that will begin in 2016. The deal is valued at more than $5 million a year in rights fees and media commitments.
Camping World CEO Marcus Lemonis, who stars in the CNBC show “The Profit,” credited the Camping World Truck Series sponsorship with helping his company increase its revenue from $1.5 billion annually in 2009 to $3 billion annually today. He also said it helped in adding 27 new retail locations and reducing the age of Camping World customers from a 47- to 65-year-old demographic to a 35- to 65-year-old demographic.
“The return on investment I have gotten out of this entitlement has honestly shocked me,” Lemonis said. “When I did the first deal, I was told by NASCAR Chairman Brian France over dinner that I would be pleased with the return on investment. … But I’ve been stunned by my ability to expand the brand and open stores.”
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