Race Fans 4 Freedom Releases Report Linking State of Economy to Health of NASCAR
May 16, 2012 | By RF4F Team
IMMEDIATE RELEASE: Tuesday May, 15, 2012
MEDIA CONTACT: Victoria Coley | 443.758.6077 | firstname.lastname@example.org
Arlington, VA—Race Fans 4 Freedom today released the results of a study examining the connection between NASCAR and the overall health of the economy. The study, conducted by Dr. J. Brian O’Roark of Robert Morris University, tracks key economic indicators of the sport showing a direct relationship between the health of the sport and the strength of the economy.
NASCAR is a microcosm that can help us understand the strengths and weaknesses of the U.S. economy as a whole. The economic downturn that began in the late 2000s and persisted through the early 2010s illustrates how much NASCAR relies on a healthy, growing economy.
Elizabeth Dyar, strategy and outreach manager of Race Fans 4 Freedom, said:
“This study illustrates that NASCAR has seen a marked downturn since the beginning of the recession, but more importantly the fans of this great sport are suffering the consequences of a bad economy.
“High gas prices, a high unemployment rate and uncertainty over their future has limited the fans’ ability to enjoy and participate in one of our country’s most popular sports.”
Dr. J. Brian O’Roark issued the following statement regarding the study:
“For NASCAR fans, if we want to understand the health of the sport, it is vital that we understand the role the economy plays. NASCAR is inexorably linked to the whims of the economy.”
Some of the study’s key findings include:
- As the unemployment rate has increased, track attendance has decreased.
- Sponsorships are down since 2007 as companies cut back on their advertising budgets.
- Stock prices for major track ownership groups declined as well, bottoming out in 2009.
- Lower budget teams have disproportionately suffered as sponsors opt to stay with higher profile teams.
- When inflation and prices rise, putting a race team together gets more expensive.
To read the full study click here.
To see the accompanying infographic click here.
For more information or to schedule an interview with J. Brian O'Roark or Elizabeth Dyar, please contact Victoria Coley at 443.758.6077 or email@example.com
Race Fans 4 Freedom, a project of Public Notice Research & Education Fund (PNREF), is a 501(c)(3) independent nonprofit dedicated to empowering race fans with the knowledge of what has made America the best and the ability to unite as a driving force for the future of our country.