Denny Hamlin’s Primary Sponsor, FedEx, Aims for Cost-Cutting as Its NASCAR Presence Hits Rock Bottom

Throughout NASCAR history, there have been some iconic driver-sponsor duos. A legendary partnership among those is between FedEx and Joe Gibbs Racing’s Denny Hamlin. The transportation and e-commerce behemoth has been beside Hamlin’s ventures in the Cup Series since 2005. However, its influence on the No. 11 team has been waning gradually. The 2023 season was a sign of grave things for the alliance.

According to renowned journalist Adam Stern, a major reason is that FedEx is looking to regain some of its financial strength in 2024. Owing to the same, it has slowly been reducing its presence on the No. 11 Toyota as a primary sponsor. Joe Gibbs Racing has also substituted FedEx with names like Mavis Tires & Brakes in 2023, which signifies the team’s acceptance of the situation.

The fall of a 19-year-old partnership

In 2023, FedEx’s reluctance to act as No. 11’s primary sponsor paved the way for more sponsors. In 2020, the company was Denny Hamlin’s primary sponsor for the whole season. Fast forward to 2023, and the number has been reduced to an unprecedented one-third of that amount. Last year, Mavis Tries & Brakes filled the gap by sponsoring the 43-year-old at New Hampshire, Pocono, Richmond, Michigan, and Watkins Glen.

Apart from these races, Yahoo! and Coca-Cola served as Denny Hamlin’s primary sponsors in Chicago and Atlanta, respectively. So, what is it that has forced FedEx to sit back and watch other sponsors replace itself on the bonnet after being limited to small decals on the No. 11 Camry’s rear end?

A big reason is the FedEx Drive Initiative. The operation has been introduced with expectations of reducing upwards of $4 billion in the company’s expenses by 2025. This has allowed sponsors like SportsClips Hair Cuts, Interstate Batteries, Acumatica, and GSK’s Shingrix to strike deals with JGR and sponsor Denny Hamlin in some upcoming races.

FedEx’s current contract as Denny Hamlin’s aide was supposed to end with the 2023 season. While there have been multiple reports and speculations about a renewal for the company to return in 2024, an official announcement has yet to be made. On the other hand, despite rumors of misalignment with the team’s objectives, Denny Hamlin has signed a contract extension with Joe Gibbs and Co., continuing his search for a Cup Series championship.

Read More: NASCAR News: Kyle Busch Set to Suffer Another Colossal Loss as Rowdy Energy Draws the Curtain on Energy Drink Operations

Denny Hamlin continues his journey with JGR

Trending

Historic NASCAR Track Shutting Its Door After Final Run Has Racing Community Heartbroken

How Late NASCAR Legend Was Forced to “Sell Everything” After Losing $10,000 to Mafia

NASCAR Rumor: 66-YO Surprise Daytona 500 Winner Could Make a Return to NASCAR in 2025

NASCAR Found Guilty by Law After Offending Michael Jordan’s Team in Antitrust Lawsuit

Amid Sleepless Nights, Tony Stewart’s Wife Leah Reveals Their 1-Month-Old Son’s 4 ‘Responsibilities’

After the mistakes of 2022, Joe Gibbs Racing couldn’t afford to let a driver of Denny Hamlin’s caliber leave its ranks. Just a year ago, the NASCAR community was shocked when Kyle Busch announced a switch to Richard Childress Racing. Having been a JGR faithful for a long time, the move to RCR felt different.

In the latter stages of the 2023 season, Denny Hamlin also teased the fans about a move to 23XI Racing in the future. This speculation had translated into the community’s understanding that Hamlin was supposedly looking for a way out. However, that was different. Hamlin dismissed the claims and announced a multi-year contract extension with JGR.

Since his debut in 2005, Hamlin has raked in 51 wins in the Cup Series for his team. The only achievement missing in his repertoire is a Cup Series championship win. The continuous support from the top brass, world-class equipment, regular sponsorship deals, and exposure motivated him to return to the team. With these many factors at play, the extension was just a matter of time.

Watch This Story: Tony Stewart’s Cup Series woes reach another low as SHR loses another sponsor to Ford rivals 

While the 19-year-old partnership will continue for a few more years, what remains to be seen is if it will also produce a championship on the road. Denny Hamlin was one of the leading contenders for the title in 2023 before a shoulder injury ruined his hopes. Misfortune has surrounded him throughout his career, but could 2024 be his year?