The company behind the potential NASCAR Cup Series sponsorship deal with Joe Gibbs Racing that fell through was revealed over the weekend.
Following the offseason announcement that longtime partner M&M’s would be leaving the #18 Toyota following the 2022 NASCAR Cup Series season, Joe Gibbs Racing have been seeking sponsorship to fill the void.
Kyle Busch has, of course, been at the forefront of this discussion, since he is without a contract to drive the #18 Toyota for what would be a 16th consecutive season in 2023.
Considering his annual salary, bringing back the 60-time Cup Series race winner and two-time series champion is looking increasingly difficult.
And what makes it even more difficult is the fact that a once promising sponsorship development recently fell through.
Back in May, it was reported by Sports Business Journal‘s Adam Stern that Joe Gibbs Racing had made an “unprecedented move” and hired Brand Activation Maximizer, the marketing agency owned by JTG Daugherty Racing co-owner Tad Geschickter. JTG Daugherty Racing is a Chevrolet team which holds no affiliation to Joe Gibbs Racing and Toyota.
Stern added that “advanced talks” with a “major tech company” for the #18 Toyota had taken place following this move.
But two months have passed, and there is still nothing sorted, as this deal was reported to have fallen through.
Ahead of Sunday’s Cup Series race at Pocono Raceway, ironically the one for which M&M’s served as the title sponsor, it was revealed by NBC Sports that the company in talks with Joe Gibbs Racing about a potential sponsorship agreement for the #18 Toyota was Oracle.
The Austin, Texas-based multinational computer technology corporation recently took a major step in increasing its involvement in motorsport by signing on as the title sponsor of the Red Bull Racing Formula 1 team. But a Cup Series move as the title sponsor of Busch’s entry simply wasn’t meant to be.
As the sponsorship search continues, Busch has confirmed that he has indeed had discussions with other teams about opportunities for the 2023 season. While there is still time, many within the industry are bracing for the possibility of the 37-year-old Las Vegas, Nevada native competing for a team other than Joe Gibbs Racing for the first time since 2007 next year.