Joe Gibbs Racing is on the lookout for a new sponsor for their star driver Denny Hamlin and the #11 team. FedEx, a global delivery and transportation giant, has been a major sponsor for the team since 2005. The company or its sub-brands have sponsored every race for Denny Hamlin’s #11 Toyota, but the number of races was reduced to 10 per season in 2021. Going by the latest updates, it seems like it could lead to the end of yet another major driver-sponsor partnership.

This isn’t the first time JGR is starring at the possibility of losing out on a major sponsor. Kyle Busch and M&M’s breakup was detrimental to both the driver and the team. Busch, who was the team’s superstar driver, was forced to find a new home and had to settle at Richard Childress Racing. And now, Denny Hamlin and the #11 team are finding themselves in a similar situation, which could be detrimental to the driver’s last few years in NASCAR.

Sports Business Journal’s Adam Stern shared the update on this situation through his X account. “.@FedEx is expected to continue reducing its sponsorship presence with @JoeGibbsRacing after this season and could conclude the longtime deal altogether, per sources, a move that would end one of the more winning driver-sponsor combos in @NASCAR history.”

The No. 11 Toyota Camry has featured the likes of Mavis Tires & Brakes, Sport Clips, Interstate Batteries, and Yahoo. But losing out on a premier partner such as FedEx could be a huge blow to the team and the driver. The report also stated that during the peak years, the company shelled out $25 million a year just in rights fees to JGR. So imagine the financial repercussions this move by FedEx could have. And this mere thought has got Hamlin and JGR fans worried.

Fans react to FedEx potentially partying ways with Joe Gibbs Racing

FedEx, like other major corporations, is looking to cut down on its sports sponsorship spending. A report by Reuters stated that the shares of FedEx slumped over 15%, which was the worst hit in the two years. Although FedEx might be in a sticky position, JGR wouldn’t be willing to lower their demands for the sake of it. This was the argument made by a fan on Reddit, “No sponsorship is going to give them the ROI that stakeholders will find acceptable, and JGR isn’t going to lower their price for them. Sucks, but it’s unavoidable.”

Now we all know how Kyle Busch’s career has spiraled downwards after his move to RCR in 2022. While he has had trouble with the Next-Gen, 2024 in particular has been nothing short of a nightmare for him. He failed to make the playoffs and could also potentially break his 19-year win streak. Therefore, reacting to this news of FedEx backtracking on its sponsorship commitments, a fan wrote, “Welcome to Richard Childress Racing, Denny Hamlin.”

Not only that, a few even linked this move to the uncertain business prospect that NASCAR has turned into. Moreover, the new charter deal could also force Hamlin to find a new team, and he could land at 23XI Racing. If he’s forced to take an exit from JGR after 2024. “Could 2025 mark his last season, y’all? If charters are indeed cut to three per team, his career might be over. Maybe he’ll switch to full-time Xfinity or Truck racing in 2026, y’all, and this is what the roster will look like in 23XI Racing so yeet.”

It’s not only JGR, but even NASCAR’s winningest team, Hendrick Motorsports, lost out on their major sponsor, Hooters, this year. In Hooters’ case, they suffered major losses and had to close 40 restaurant locations. So, it seems this is an industry-wide issue that the teams are not being able to find long-term partners. Reacting to JGR’s situation, a user on Reddit highlighted FedEx’s concerns that coincide with that of Hooters, “For context FedEx the last couple days lost 11 billion dollars in market value; it’s not looking good for them.”

Even a top-tier team like JGR, and arguably the most popular figure in NASCAR, Hamlin, isn’t able to keep hold of their sponsors. This just goes to show how difficult it has become for the teams to stay afloat in NASCAR. Although Hamlin isn’t the most revered personality, this fan was feeling bad for him after getting to know about this development. “I’m not a Denny fan, but I would hate to see this long-lasting business partnership come to an end. It’s not a good sign.”

Now it will be interesting to see what Joe Gibbs Racing does to counter the inevitable move of FedEx pulling the plug on the funding. Will they find a new major sponsor, or will Hamlin have to look for a new home?