NASCAR seeks $15 million title sponsor replacement for Xfinity Series

NASCAR is seeking a new title sponsor for its Xfinity Series, targeting a deal worth $15 million annually, a reduction from the previous $20 million agreement with Xfinity, which has held the title since 2015. The telecommunications company will not renew its sponsorship at the end of the current season but will remain a premier partner of NASCAR. Klutch Sports Group has been brought on as the exclusive sales agency to secure this new sponsorship, leveraging its influence in sports and its previous collaborations with NASCAR. The new deal is expected to include $10 million in rights fees and $5 million for marketing activation. NASCAR's chief commercial officer noted Klutch's increasing involvement in motorsports as a key factor in this partnership. Additionally, NASCAR is looking to fill other sponsorship gaps following recent changes in its partner roster.