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Officials for Allstate today announced they are ending their sponsorship of the Brickyard 400 NASCAR race after five years.
The timing comes after a 20 percent attendance drop from last year, though Allstate officials said that had nothing to do with their decision.
“When we looked at all of our business results, they were just stronger in the other properties,” said Allstate Director of Sponsorships and Promotions Pam Hollander in a statement.
Despite an attendance drop to 180,000, IMS officials said they were pleased with the turnout. Sports business experts said since many of the tickets were discounted, revenue from the event was likely off 30 percent or more.
The attendance decline, sports marketers said, is related to three things; a swooning economy, waning interest in NASCAR and the tire problems that plagued last year’s race.
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For more on this story, and to read Speedway official’s comments, click here.