In NASCAR, sponsorships play a crucial role in supporting teams and drivers. Sponsors provide financial backing, which is essential for funding the team’s operations. However, in 2022, even the world’s most renowned shipping company faced a recession, experiencing a massive and unprecedented drop of 21% in share value in a single day. During this time, FedEx incurred substantial losses, amounting to nearly $500 million. This situation raised doubts about whether FedEx would choose to renew its sponsorship contract

However, there has been a change in the situation. A post shared by SBJ’s Adam Stern revealed that FedEx has decided to maintain its presence in NASCAR with certain modifications. Even Denny Hamlin’s presence with JGR was unclear.

Will FedEx renew its sponsorship with Denny Hamlin and Joe Gibbs Racing?

Denny Hamlin has been in the spotlight after the much-debated wreck with Chase Elliott during the Coca-Cola 600. Throughout his Cup career spanning almost two decades, Hamlin has remained loyal to Joe Gibbs Racing, the only team he has raced for. Moreover, his partnership with FedEx has been going strong for over 15 years.

Because of FedEx’s $500 million loss, there were speculations that FedEx might leave JGR. When Hamlin’s #11 Toyota featured Interstate Batteries at the Circuit of The Americas, concerned voices were raised, such as “Where is FedEx?” and “FedEx about to pull out😂.” 

Recently, SBJ journalist Adam Stern shed light on the matter. He reported that FedEx is going to be with Joe Gibbs Racing in the upcoming year, though the scope of the agreement is unclear. 

While the company may have decided to reduce its funding, it will likely remain an exclusive sponsor for the #11 team in the future. Denny Hamlin has previously expressed his desire to retire with Joe Gibbs Racing and FedEx.

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Would Hamlin retire if FedEx cancels their sponsorship?

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Denny Hamlin has achieved remarkable success while driving the #11 car featuring FedEx logos over the years.

However, amidst some fluctuations and challenges faced by the company, there were concerns that FedEx might terminate its sponsorship with Hamlin and Joe Gibbs Racing. However, in a pre-season interview, Hamlin confidently stated his intention to sign a contract with Joe Gibbs Racing for the upcoming year. Hamlin said, “I am confident, as long as I am racing want to be with Joe Gibbs Racing and they want to be with me. Certainly, I think that these talks will go on for a few months. There are just so many other aspects that goes into this.”

“Myself have a Toyota team, and we have an alliance with JGR. There is a lot to navigate as a lot of contracts are all up at the same time,” the 23XI Racing co-owner added.

This indicates that despite any potential uncertainties surrounding their partnership, Hamlin remains committed to continuing his association with the team that has been his home for his entire career.

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