Despite 1000-Store Hit, Jimmie Johnson’s Partnership With Fortune 500 Company Stays Strong

If there’s one thing that NASCAR cannot run or operate without, it’s the sponsors. It’s no secret that teams and drivers have been having a hard time securing a sponsorship deal in recent times. Despite the challenges of finding new partners, LMC hit a jackpot by onboarding Dollar Tree as their primary sponsor for the team in a deal worth $10 million. Not only that, the team managed to secure their support towards the team efforts in the Cup Series for three years, starting in 2024. The company committed to sponsoring all 38 Cup Series races for their two full-time rides, along with select races for Jimmie Johnson.

However, after incurring heavy losses in the fourth quarter, the company has decided to scale back on its business operations, resulting in the closure of its 1000 stores. This volatile situation led many from the NASCAR community to express concern over their existing ties with Johnson’s team and their future in NASCAR.

The partnership between Dollar Tree and Legacy Motor Club is unfazed by the company’s recent move

Back in 2015, Dollar Tree merged itself with Family Dollar, and the partnership seemed to have caused trouble for the Fortune 500 company. After failing to hit the profit margins for the holiday quarter sales, the company decided to shut down its 970 Family Dollar stores. According to a report by Reuters, the shares of the company fell by 14% after the forecasted 2024 sales and profits.

While it may look like a big figure, the company does manage over 16,000 stores across the country and in Canada. Business is not as usual in the Dollar Tree camp for the time being, but to suggest that their downsizing could affect their partnership with LMC was somewhat of a far-fetched thought by some of the NASCAR fans.

Acknowledging the concerns of the fan, Bob Pockrass, via his X account, wrote, “Dollar Tree will still have 15,774 stores after the closings. Their CEO loves his NASCAR. As long as the CEO is there, I don’t think there will be anything drastic for Legacy.”

Jimmie Johnson’s foray into onboarding Dollar Tree as their sponsor was not the only big move made by the team. Ahead of the 2024 season, they decided to onboard Toyota as their manufacturer, a move that has yet to deliver on its promise.

Johnson is optimistic about LMC’s switch from Chevrolet to Toyota

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Legacy Motor Club became the third NASCAR Cup Series team to represent Toyota as their manufacturer. The 2023 season under Chevrolet had its issues, and with Chevy having a huge portfolio of other teams, LMC felt they were treated inferiorly. Thus, a loss of Chevrolet was a win for Toyota, which expanded its presence in the Cup Series.

However, in terms of performance or results, the new Camry has been running hot and cold for the two drivers, John Hunter Nemechek and Erik Jones. In a total of eight races between the two drivers, they have only managed two top-10 finishes. But given the improvements Johnson has seen in such a short time, he is looking forward to getting better results with Toyota this season. “I don’t have a fair apples-to-apples comparison as the team was evolving but certainly from March of last year to March of this year to see the growth of our team is quite impressive,” Johnson said in an interview.

Given that the Toyota Camry secured its first win of the season last weekend with Christopher Bell, the duo at LMC will be hoping to churn out positive results at Bristol Motor Speedway this Sunday.

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