NASCAR Close To Deal With Ethanol Group

NASCAR is “poised to sign its first new high-profile sponsorship in 20 months and take a significant step forward in the green initiative it began two years ago by aligning with an ethanol lobby group known as Growth Energy," according to Tripp Mickle of SPORTSBUSINESS JOURNAL. Sources said that the deal is “close to completion." The arrangement would make Growth Energy an official marketing partner. Sunoco will remain the official fuel of NASCAR, though sources said that the company “raised some concerns about the Growth Energy deal that are being worked through." Growth Energy is expected to use its NASCAR partnership “primarily to promote the American ethanol industry." It is “unclear whether Growth Energy members would provide ethanol to Sunoco." Terms of the proposed deal were not available. NASCAR official partnerships typically range from $2-10M annually. Sunoco is in the seventh year of its NASCAR partnership and it “pays approximately $10 million annually." The ethanol partnership “would be tied to NASCAR’s reported plan to convert to 15 percent ethanol-blended fuel" in ‘11. Growth Energy is a two-year-old advocacy organization that represents more than 65 ethanol production plants across the U.S. Its only current sports relationship is with Vikings LB Chad Greenway, “a former Iowa Hawkeye who has Growth Energy spots on his Facebook page." The “last high-profile new sponsorship NASCAR signed was with Ask.com in January 2009" SPORTSBUSINESS JOURNAL