MillerCoors and NASCAR have not yet been able to reach an agreement to extend Coors Light’s official beer deal with the sanctioning body that expires this year, according to sources. That makes a renewal look increasingly unlikely as the sport’s offseason begins.
Coors Light has been the official beer of NASCAR since ’08 when it replaced Budweiser in a five-year deal that was originally valued around $4M annually. The deal was renewed in ’12.
While the sides maintain that they have not stopped negotiating and that a last-ditch save of the deal thus remains possible, sources said that NASCAR and MillerCoors have not been able to find a suitable arrangement to move forward despite negotiating for months after the brewer sought to renegotiate terms of a possible extension.
MillerCoors, which sponsors the pole winner award every week as part of its deal, has cut back its presence in NASCAR in recent years, first getting rid of its at-track models that were part of its sanctioning body deal and then recently announcing an extension under reduced terms with Team Penske.