DeWalt will not renew sponsorship with Roush Fenway Racing's Matt Kenseth
DeWalt will not return as the primary sponsor for Roush Fenway Racing's Matt Kenseth in 2010. // David Griffin, NASCAR Scene
DeWalt announced Thursday that it will not renew its agreement with Roush Fenway Racing to sponsor driver Matt Kenseth next season in the NASCAR Sprint Cup Series.
The manufacturer of industrial power tools, which has been with Kenseth since his rookie year of 2000, cites an unprecedented decline in the construction industry as its reason for not renewing the sponsorship. During a conference call Thursday, officials said that the company would not have ties to any NASCAR team or track next season.
“We would like to thank DeWalt for serving as a great partner for the past 10 years," Roush Fenway President Geoff Smith said in statement. "During that time we have seen great success for both their company and marketing program, as well as with Matt on the race track. They will always be remembered and honored as the sponsor of [team co-owner] Jack Roush's first Sprint Cup championship team.
"Despite this success - in the face of the significant world-wide economic decline in the construction industry - DeWalt's decision to not return is not a great surprise to us. Fortunately, we have several great companies interested in taking over, and we expect to begin finalizing those sponsorship arrangements in the very near future.
DeWalt has been a sponsor on Kenseth’s car for each of his 18 Cup wins, including this year’s Daytona 500.
"We have been proud to have Matt Kenseth, [Roush Fenway general manager] Robbie Reiser, Jack Roush and the entire No. 17 DeWalt Racing team at Roush Fenway Racing represent DeWalt in front of millions of NASCAR faithful,” Les Ireland, president of the North American Power Tools and Accessories Group for DeWalt, said in a news release.
“During our sponsorship, Matt and the crew won the 2000 rookie-of-the-year award, two world pit crew championships, the 2003 series championship and have qualified for the Chase For The [Sprint] Cup for every year since its inception. ... Matt's style, personality and success have been an outstanding fit with our brand. Having a presence at the track has provided a great experience for power tool users, our distribution partners, our employees and NASCAR fans."
Kenseth is currently 12th in the Cup standings, with two wins this season.
"Our decision to discontinue the sponsorship, while a difficult one, will help us to continue delivering value to our customers and end users, while managing our financial results,” Ireland said in the statement. “We remain committed to the team for the 2009 season, and will have an ongoing presence in the sport as DeWalt tools will continue to be used to build and maintain racecars and equipment.
“We would like to thank DeWalt racing fans for their loyal support over the years and we also thank Matt, and the entire Roush Fenway Racing organization for their efforts and outstanding results, and wish them continued success."
