June 21, 2007

Kyle Petty hasn't won a race since 1995, but Wells Fargo isn't about to give up on him.

The banking giant is in its fifth year sponsoring the NASCAR driver, in what has become the highly polished side to a gritty sport: corporate sponsorships. These days, the logos drivers wear are as important as how well they drive - and the more companies pay, the more they expect in return.

"It's a serious amount of money," said Michael McCoy, a Des Moines-based senior vice president of marketing at Wells Fargo Financial who oversees the Petty sponsorship. "But we are getting an outstanding return on our investment. Kyle's just been a big win for us every year."

Wells Fargo will serve as Petty's primary sponsor for 12 of the 37 races this season. The company won't say how much it pays for the sponsorship, but industry experts put the numbers anywhere from $15 million or more for an upper-tier car to $8 million or less for a midlevel team. Wells Fargo is Petty's primary sponsor at more races than any of his other corporate partners with the exception of one - Marathon Petroleum Co., which also has 12.

"Our sport is like no other," said Petty, 47, who on Sunday in Sonoma, Calif., will become the first NASCAR driver to broadcast live while racing. "When you sponsor a team, it becomes a franchise. We are the Wells Fargo franchise."

Many companies dutifully track the "lift" they get from television broadcasts showing their logos on cars, uniforms and pit signs and mentioning their brands. Joyce Julius and Associates in Michigan tracks how much air time sponsors get during races, and assigns a monetary value to that exposure.

"It can be significant," said Eric Wright, a spokesman for the research company. "And it's not always what you think it will be. The race winner doesn't necessarily get the most exposure."

Through the first 13 NASCAR races this season, Wells Fargo has received six minutes and 24 seconds of broadcast exposure, which translates into an advertising value of nearly $1.2 million, Wright said. He predicts the car will attract more air time than usual this Sunday because of Petty's agreement to provide analysis from behind the wheel of his No. 45 Dodge throughout TNT's coverage of the Nextel Cup Series race at Infineon Speedway...