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Rumors surrounding NASCAR team Joe Gibbs Racing's partnership with global delivery and logistics giant FedEx, who has been a primary sponsor for JGR's #11 Toyota, driven by Denny Hamlin. FedEx is reportedly planning on cutting $4 billion in costs before the 2025 fiscal year.
One of NASCAR's most successful teams, Joe Gibbs Racing was founded in 1992 by Pro Football Hall of Fame coach Joe Gibbs. The team runs four entries in the Cup Series and two in the Xfinity Series. Since its inception, JGR has secured ten driver championships and has over 450 race wins in the sport.
FedEx, which is worth $67 billion (according to Forbes), has had a long-standing partnership with Joe Gibbs Racing as Denny Hamlin's primary sponsor. While they sponsored Hamlin for all his races up until 2021, cost-cutting measures have led to reduced involvement. Amid rumors of FedEx potentially exiting, JGR is reportedly seeking alternative sponsors.
Adam Stern of Sports Business Journal recently shared an update on JGR's sponsorship hunt, stating:
"@CampbellSoupCo will become an official partner of @JoeGibbsRacing as part of a broader deal with Harris Blitzer Sports & Entertainment, an investor in JGR. 🔲 The deal also involves the @Commanders , @Sixers and @NJDevils."
After FedEx reduced its contribution to Joe Gibbs Racing's #11 team, Denny Hamlin's Toyota has partnered with Mavis Tires & Brakes, Sport Clips, Interstate Batteries, and Yahoo-themed liveries, as part of their partial sponsorship.
Meanwhile, JGR's #11 and #20 teams are competing in the 2024 Cup Series playoffs, and Chandler Smith is in the title race in the Xfinity Series.
Joe Gibbs Racing's Denny Hamlin admits difficulty in predicting 2025 season's title winner
Denny Hamlin recently commented on the cutthroat competition on the 2024 Cup Series playoffs. Hamlin, along with Christopher Bell are the two Joe Gibbs Racing drivers, both competing for their first title win.
Four of the eight drivers in the Round of 8 lineup are former Cup Series champions. While Denny Hamlin has had a celebrated career, a title has always been on his cards. Reflecting on the nature of competition for the remainder of the playoffs, the Joe Gibbs Racing driver said(via Actions Detrimental)
"What do you want to see? Do you want to see the best four? Like you really don't know who's going to win? Or do you want to see an A driver and a B and a C and a D?"
"But I'm saying this is maybe the best eight ever assembled as far as like how even it is. You could put Larson on an island and tell him you could say that, okay, there, there are a step above but two through eight is fire and it's going to be close," Hamlin added.
The first race in the round of 8 is the South Point 400 which is scheduled to take place on October 20 at 2:30 PM ET at the Las Vegas Motor Speedway. Fans can catch the race live on NBC Sports, PRN Live, and SiriusXM NASCAR Channel.
