“This is a hit to NASCAR and the team, but, in the big picture, this is an issue beyond the sport as much as anything,” Page said. “Lowe's has some financial issues that have been building for a while and it just doesn't make sense to put $20 million-plus into a NASCAR program right now.

For Lowe's, the decision is simply business. The home improvement company teamed with Hendrick and Johnson in 2001 when the driver was a nobody. Owner and company took a leap on the driver Jeff Gordon promised them was going to be a star. Gordon was right and Johnson was so good that Lowe's couldn't leave.

2018 Hendrick Motorsports announced earlier this year that Lowe's would end its sponsorship of Johnson at the end of 2018. Lowe's has been the primary sponsor of the No. 48 for Johnson's entire Cup Series career to date.

Lowe's has been the primary sponsor of Johnson's car throughout his entire Cup Series career. Lowe's announced earlier this year that it would leave HMS and NASCAR at the end of the 2018 race season. Credit for the conversation between team and sponsor reigniting is being given to executive changes at Lowe's.

Carvana We can't wait to see Club Wyndham on Jimmie Johnson's No. 84 Chevrolet.” As previously announced, Johnson's 2023 schedule included the season-opener DAYTONA 500 and the Chicago Street Course in July, sponsored by Carvana.

Carvana MONTEREY, Calif. (AP) - Jimmie Johnson announced Friday that sponsor Carvana has agreed to fund next year's racing endeavors and the seven-time NASCAR champion will use the next few weeks to determine his 2023 schedule.

On June 20, 2011, the Associated Press reported that Red Bull was planning to leave NASCAR at the end of the season. The team's on-track struggles, combined with a lackluster outreach to the 18–34 demographic, forced their departure.

CHARLOTTE, N.C. -- Chip Ganassi has sold his NASCAR team to Justin Marks, owner of Trackhouse Racing, and will pull out of the nation's top stock car series at the end of this season.

NASCAR teams rely on sponsorship for roughly 65%-80% of their annual total revenue. A full-season sponsorship with top drivers cost $25 million-$30 million at its peak a decade ago, but now many brands say they no longer need the full campaign.

We announced early this year, however, that we will redirect our investment away from NASCAR after completion of this season, and that has not changed.” Sports Business Journal first reported Lowe's statement Friday. Hendrick Motorsports announced March 14 that Lowe's would not return to the team after this season.

Forbes listed Jimmie Johnson as the second-highest-paid NASCAR driver of 2020, with earnings of $17.6 million for the year, with $14.8 million coming from his salary and prize winnings and another $2.8 million for licensing and endorsements.

Legacy Motor Club, formerly known as Petty GMS Motorsports, is an American professional stock car racing team owned by Maury Gallagher and Jimmie Johnson. The team competes in the NASCAR Cup Series where they currently field three Chevrolet Camaro ZL1 teams: the No. 42 full-time for multiple drivers, the No.