Pepsi cutting way back on NASCAR sponsorship

According to a report in Sportsbusiness Daily Coca-Cola is close to displacing rival Pepsi with a massive pouring and marketing rights deal at Daytona Int'l Speedway. Neither Coca-Cola nor ISC spokespersons would comment. However, a source familiar with the negotiations said Pepsi was walking away not only from a 49-year association from the track that is home to the Daytona 500, but will eventually drop its deals with other ISC tracks when they expire over the next four years, including Phoenix, Talladega, Watkins Glen and Darlington. Pepsi “just didn’t see the value in continuing a legacy deal just for the sake of it," said a source familiar with the negotiations. Pepsi will continue to leverage the sport with Jeff Gordon, and is expected to increase NASCAR activation at retail, consistent with the direction set by VP/Sports Media & Interactive Marketing Ralph Santana, who moved into Pepsi’s top sports marketing slot last year. Another possibility is that they might sponsor Dale Earnhardt Jr. at Hendrick Motorsports, and hence the cutback at the track level.