While this is a reality today, I feel like there was a lot of speculation that Target was pulling out of sponsoring the No. 42 team for quite awhile. It’s official today. Target is leaving the sponsorship of the No. 42 at the end of the 2017 Monster Energy NASCAR Cup Series season.
Target released the following statement:
We are enormously proud of how Chip and the entire Ganassi Racing team have represented the Target brand throughout our partnership. Together, we’ve seen tremendous success in NASCAR over the past 16 seasons, both on and off the track.
As we looked to evolve our sports marketing program, soccer provided Target with a unique opportunity to reach our guests in new places, and at all levels of the sport. Through partnerships with Major League Soccer, Minnesota United FC, US Youth Soccer and the U.S. Soccer Foundation, Target has been able to create meaningful connections with players, fans and families, no matter how they participate in the sport. We will continue to build on these and other soccer investments in 2018 and beyond.
Over the past season, Target has worked closely with Chip Ganassi Racing on this transition. We have incredible respect for Chip and the talented team he has assembled, and are confident they will continue to see great success for years to come.
Chip Ganassi Racing with Felix Sabates’ own statement on Target’s departure:
I have had an unbelievable relationship with Target for 28 years and I have to thank them for their long-time support. It has been so much more than a team-sponsor relationship. They have their finger prints on so much of what Chip Ganassi Racing has become. I have had numerous mentors and developed great friendships over the years at Target and fully expect many of those to continue but this news simply closes one chapter of our race team and also begins a new one. Kyle Larson is a once in a generation talent, he and the No. 42 Chevrolet will still be on the track for a long time, the only difference is that they will have different colors.
Source: NBC Sports – Target withdrawing sponsorship from Chip Ganassi Racing after this season