FedEx Agrees To Multiyear Extension With Joe Gibbs Racing

UPDATE Hamlin said, “FedEx knows who they want driving their car. We typically try to do our deals together as a partnership, because that’s what it is between the three of us. As long as FedEx likes me, I know I want to be with Gibbs" USA TODAY.

06/28/12 At a time when other NASCAR sponsors are slashing the number of races they support, FedEx has agreed in principle to an extension with Joe Gibbs Racing that will see the company continue to support 30-plus Sprint Cup races for driver Denny Hamlin, sources familiar with negotiations said. Financial terms of the multiyear deal were not available, but FedEx will see a reduction in the estimated $20-25M it was spending to sponsor the No. 11 car.

FedEx signed its initial deal with JGR in '05. Hamlin has driven the FedEx car since he began racing full time in NASCAR’s Cup series in '06. FedEx’s renewal makes it one of only a handful of NASCAR team sponsors paying for more than 30 races. Others include NAPA Auto Parts, Miller Lite, Lowe’s and Menards. The shipping company’s decision to support 30-plus races runs contrary to an '11 trend that saw full-season primary sponsors like the Home Depot, UPS and Aflac cut the number of races they supported Tripp Mickle, SportsBusiness Journal.