Nascar premier partner Coca-Cola is extending its relationship with the stock car racing series by being named the entitlement sponsor of its officially sanctioned esports racing series in a multi-year deal.
The prize pool in the eNascar Coca-Cola iRacing Series will also triple to more than to $300,000, with the champion earning $100,000. Live telecasts will return to cable network NBCSN following its linear TV debut in 2019.
Coca-Cola is replacing Peak Antifreeze as the competition’s entitlement sponsor.
In December, Nascar ushered in its new tiered sponsorship model by announcing that Busch Beer, Coca-Cola, Geico, and Xfinity will be the premier partners of the renamed Nascar Cup Series.
Previously Nascar’s premier series had title sponsors, with Winston, Nextel, Sprint and most recently Monster Energy as the entitlement sponsors. But Nascar has decided to revamp its overall strategy with corporate partners as it looks to return to commercial relevance after a decade of decline, which has included a mass sponsorship exodus.
The 2020 Nascar season kicks off with the Busch Clash at Daytona on February 9 at the Daytona International Speedway. A number of changes have been made to the 2020 schedule to add more excitement.
“We’re coming off of a very good year, I felt like last year, where we’re really getting some momentum back,” Nascar chairman Jim France said recently. “It’s exciting now, going into this coming year.”