DAYTONA BEACH, Fla. (AP) – Joe Gibbs joined the list of heavy hitters defending NASCAR during one of its shakiest periods in decades.
The owner of powerhouse Joe Gibbs Racing said NASCAR has a bright future and noted top-level companies would not participate if the sport was a sinking ship.
“You don’t get the biggest and best companies in America involved in our sport, and going as hard as they are and re-upping and signing unless you’ve got a sport that brings value to the table,” Gibbs said Saturday at Daytona International Speedway.
The season opens Sunday with the Daytona 500, the showcase piece of NASCAR’s 11-month schedule. In the buildup to this version of the Super Bowl, NASCAR has been under scrutiny for its leadership, a new sponsor that is mostly using models to market the series, and a new format that gives longtime fans another chance to scream in angst against gimmicks.
An article in the Wall Street Journal earlier this week spotlighted all of NASCAR’s concerns, which range from a decreased and aging audience to the cut rate Monster Energy is paying for entitlement rights. The industry hit back with a sponsorship extension through 2023 between Team Penske, Shell-Pennzoil and Joey Logano, as well as an extension for Gibbs with FedEx and Denny Hamlin .