TARGET MOVING SPORTS MARKETING DOLLARS FROM NASCAR TO MLS

Target Corp. (TGT) is shifting its sports marketing budget from NASCAR to MLS. The retail giant announced it is terminating its 16 year sponsorship of Chip Ganassi’s NASCAR team and that it does not plan to renew its deal with Kyle Larson’s No. 42 Chevy car, following this season. Instead, TGT will be among the national sponsors of MLS and the primary local sponsor for the Minnesota United FC. The company has stated the move is being driven by growing interest in the game of soccer within core target demographics; Hispanics, families and millennials.

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Target pulls out of NASCAR, steers dollars to soccer

Howie Long-Short: Hard to argue with TGT logic here. One sport is growing, while the other is in a decline.

Fan Marino: Pro Tip: If you go to a NASCAR event, make sure to get the scanner headsets so you can listen in on the drivers. Game-changer.

Author: John Wall Street

At the intersection of sports & finance.

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