Office Depot Dumps Olympics for NASCAR

Office Depot has entered into a multi-year agreement with NASCAR to become the sport's first-ever Official Office Products Partner, beginning with the 2005 race season. At the same time, the office supply retailer said it would not re-new its sponsorship of the United States Olympic Committee.

Office Depot's NASCAR sponsorship activities include category exclusivity in NASCAR's NEXTEL Cup, NASCAR Busch and NASCAR Craftsman Truck series, NASCAR-themed customer promotions, NASCAR-themed television, print and radio advertising, NASCAR displays in Office Depot's 900 plus stores throughout the U.S. and advertising during NASCAR race telecasts and in a variety of national sports media. NASCAR will also become an Office Depot customer for office supplies and services.

The partnership is now the focal point of the company's sponsorship portfolio and breaks new ground by utilizing NASCAR to reach out to small business owners.

Additionally, Office Depot plans to unveil a NASCAR NEXTEL Cup team sponsorship later this month, and will also support an upcoming NASCAR diversity initiative.

"This creates a powerful marketing platform for Office Depot, reaching millions of customers where the NASCAR association has shown to be a true differentiation point in purchasing decisions," said Chuck Rubin, executive VP and chief merchandising and marketing officer for Office Depot, in a statement. "After a thorough analysis of a variety of sponsorship opportunities, it was clear to us that NASCAR was the optimal fit for our new strategic direction."

According to Rubin, Office Depot's alliance with NASCAR signals a strategic shift in the company's overall sponsorship portfolio, creating a national marketing platform that reaches millions of customers. A September survey of NASCAR fans found that 72% consciously purchase products because of a company's relationship with the sport and that 44% of those who shop at other office supply stores would make Office Depot their primary supplier as a result of the company's NASCAR affiliation.