Dollar General Ending NASCAR Sponsorship

Matt Kenseth losing Dollar General sponsorship

Dollar General will ends its sponsorship of Matt Kenseth and Joe Gibbs Racing in the NASCAR Sprint Cup Series following the conclusion of the 2016 season.

The company confirmed the news Monday through a statement to the SportsBusiness Journal. The company will not sponsor another NASCAR team in 2017, instead choosing to spend its money outside of the sport.

"Dollar General has had tremendous success with NASCAR and our sponsorship with Joe Gibbs Racing. We have enjoyed a great partnership with Joe Gibbs Racing and we are excited to see what the No. 20 Dollar General car driven by Matt Kenseth will accomplish during the remainder of the 2016 NASCAR Sprint Cup Series season. Our strategy to reallocate our future marketing assets into new programs is strictly a business decision to align our priorities to better serve our customer in this rapidly changing retail environment," the statement read.