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Report: FedEx continuing to reduce sponsorship presence with Joe Gibbs Racing, could sever ties altogether

FaceProfileby:Thomas Goldkamp•09/24/24
Denny Hamlin Bristol Night Race
Mandatory Credit: Randy Sartin-Imagn Images

One of the most winning driver-sponsor combinations in NASCAR history could soon be coming to a close, according to a report from the Sports Business Journal. FedEx is reportedly set to continue reducing its sponsorship presence with Joe Gibbs Racing after this season, with the potential of the long-time deal concluding altogether, SBJ reports.

The global organization has been a major sponsor of Joe Gibbs Racing since 2005. FedEx has long been a partner with Denny Hamlin, as well, perhaps one of the most easily identifiable driver-sponsor combos in the sport.

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But the organization began pulling back on its complete sponsorship of the No. 11 in 2021.

This season, FedEx had panned to sponsor roughly a dozen paint schemes for Joe Gibbs Racing, the same figure as it had in 2023. The reduction starting in about 2021 was the result of a broader cost-cutting effort from the organization.

With FedEx cutting back in recent seasons, Joe Gibbs Racing has had sponsorships from other companies such as SportsClips Hair Cuts, Interstate Batteries, GlaxoSmithKline’s Shingrix vaccine and Acumatica. FedEx’s previous agreement with the race team was set to end after the 2023 campaign but was extended to included several races in 2024.

Hamlin himself signed a multi-year extension with Joe Gibbs Racing in September, and it’s a very real possibility he could outlast the sponsorship agreement with FedEx.

“Joe Gibbs Racing has been my home for almost 20 years now,” Hamlin said in a press release. “My relationship with Joe [Gibbs], my team and everyone at JGR means a lot to me. We have accomplished so much together over the years. I’m excited to finally announce this so we can put all our focus on chasing the championship.”

Hamlin managed to stave off playoff elimination last week with a nice race at Bristol. He currently sits at No. 6 in the playoff standings and is set to drive a FedEx scheme at Kansas Speedway this weekend.