Lowe’s to end sponsorship of Johnson
CHARLOTTE, N.C. » Lowe’s said Wednesday it will end its sponsorship of seven-time champion Jimmie Johnson at the end of the season and leave NASCAR.
Johnson made his Cup debut in 2001 with Lowe’s and he’s never had any other company as his primary sponsor. Through 18 years Johnson has won a recordtying seven titles, 83 races and built a Hall of Fame career the Lowe’s brand.
“The No. 48 team is a valuable property and has been an integral part of building the Lowe’s brand, which makes today’s decision difficult as we now look to invest in other strategic initiatives,” Lowe’s chief customer officer Michael P. McDermott said in a statement.
Lowe’s probably stayed in the sport longer than expected because rival Home Depot left NASCAR after the 2014 season. Menards is still in NASCAR, and while the Lowe’s funding helped Johnson and Hendrick Motorsports find success, there is not much of a rivalry in the marketing space.
This is the first time since Rick Hendrick inked the Lowe’s deal in 2001 that he has Johnson available to shop to sponsors.
The car has almost never had open inventory available for a company to attach its name to the greatest driver of his generation.
“Jimmie is one of the greatest champions and ambassadors in all of sports and still at the top of his game,” Hendrick said. “This change opens up all kinds of possibilities, and we look forward to having conversations with potential new partners. It’s a special opportunity with an iconic athlete and team.” representing