Daytona 500 Champ Might Have Defended Team From $39.53 Billion Loss to Joe Gibbs Amid Possible Ownership Shuffle

The bigwigs in the NASCAR Cup Series rarely need to scratch their heads about sponsorships. Their multiple-car teams host the best active drivers who pick up wins and sponsors like berries from a garden. However, when it comes to single-car teams like JTG Daugherty Racing, they often have to stand at the mercy of Cup giants like Joe Gibbs Racing.

Rumors were afloat that Joe Gibbs’ team was ready to steal the only big sponsor of JTG. Kroger, America’s largest supermarket chain worth $39.53 Billion has sponsored Ricky Stenhouse Jr since 2010. But the JTG driver might have absolved rumors of their exit with a brand-new announcement.

JTG driver may have neutralized Joe Gibbs’ threat

After Ricky Stenhouse Jr won the Daytona 500 last year, a dry spell descended on the No. 47 team. This year, his best finishes were sixth place in Atlanta and fourth place in Talladega. Hence suspicion was afoot that some important stakeholders were also losing confidence in the driver. 

However, the team recently overturned these dark possibilities. JTG Daugherty Racing announced a multi-year contract extension with Ricky Stenhouse Jr, cementing their four-year-old alliance. Stenhouse’s contract with the team was set to expire at the end of 2024.

Stenhouse reaffirmed his intentions to take on new challenges. “When I joined this team in 2020, I knew both the team and I were capable of putting the No. 47 in victory lane. Although I wish it came sooner, winning the Daytona 500 last year proved that we can win together.” He added, “I’m very excited to continue my relationship with the team, I think everyone will be pleasantly surprised to see what we have in store for the future.”

This is a hint Kroger may ditch its plans to shift to Joe Gibbs’ fold after all. Bob Pockrass testified this on Twitter: “Kroger likes Stenhouse — he is good with the various sponsors & willing to meet with all the brands.”

Team owner Gordon Smith has also clarified his confidence in Stenhouse: “He has been an asset to our team on and off the racetrack since joining us in 2020. Winning the Daytona 500 was a huge accomplishment for our small team, and I know we have more trips to victory lane in our future with Ricky at the wheel.”

Ricky Stenhouse Jr proved those rumors wrong with this joyful development. In another comeback, JTG Racing has also hinted at trimming its ownership.

JTG owner may bid adieu to the team

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JTG Daugherty Racing is co-owned by NBA players Brad Daugherty, Gordon Smith, Jodi Geschickter, and Tad Geschickter. And Tad maintains close ties with the Kroger brand. Initially, people suspected that Geschickter may pack his bags and leave for JGR along with Kroger. Geschickter’s alliance with Joe Gibbs began in 2022 via his Brand Activation Maximizer agency. He also helped sell a sponsorship to JGR, citing personal relations. However, JTG may eject Geschickter before the latter takes the call.

In a Twitter post, Bob Pockrass outlined his theory along similar lines. “JTG Daugherty news release quotes Gordon Smith & Brad Daugherty. It lists Smith, who has been co-owner, as “owner” and Daugherty as “co-owner” as he typically is identified … Tad Geschickter not quoted. He has declined comment last several months on his JTG ownership stake/role.”

So even though JTG Daugherty Racing may be undergoing an ownership shuffle, their sponsor is protected from Joe Gibbs’ prying eyes.