Jimmie Johnson to Lose Lowe’s as Primary NASCAR Sponsor
After backing Jimmie Johnson since 2001, Lowe’s will no longer sponsor the seven-time NASCAR Cup series champion after the 2018 season.
NASCAR driver Jimmie Johnson began driving in the top tier NASCAR Cup Series back in 2001. Since 2001, his No. 48 car has been primarily sponsored by Lowe’s Companies Inc. with the retail store Lowe's branding. That will change in the 2019 season.
Lowe's will not be returning to sponsor Jimmie Johnson's Hendrick Motorsports No. 48 race program for the 2019 season. Since joining the NASCAR Cup Series and driving in a Lowe's branded race car, Johnson has become a seven-time NASCAR Cup Series champion, won 83 races, obtained 35 pole positions not counting the 222 top-five finishes, 341 top-10s, and more than 18,000 total laps led in races. He is also the only driver to compete in NASCAR's postseason since the postseason started in 2004. You could say the Lowe's investment paid off.
“The No. 48 team is a valuable property and has been an integral part of building the Lowe’s brand, which makes today’s decision difficult as we now look to invest in other strategic initiatives. Although we are evolving our strategy, there’s no question that being a part of seven championships and many history-making moments has been valuable for Lowe’s.” said Michael P. McDermott, Lowe’s Chief Customer Officer.
Back in June, Johnson signed a contract extension with Hendrick Motorsports which keeps him racing through 2020. Hendrick Motorsports and Johnson have not commented on who the replacement sponsor will be, but Johnson said, "Someone will be a big part of writing that story with us. I’m not going anywhere.”