NHRA President Glen Cromwell Announces Lawsuit Against The Coca-Cola Company (1 Viewer)

[JB3]

How in the heck can NHRA survive without a title sponsor? With that money gone, racing will become even more of “pay to play.”
This late in an already unforgettable year, with an economy teetering on serious recession, if not depression, which company is going to step up at Coca-Cola’s level by next season?
Personally, I don’t see that happening.

Seriously ... Teetering on serious recession? What?

If not depression? Again what?

Where do you people get this doomsday crap? Makes me laugh hysterically. You can't possibly think that.

 

[Rajunz]

$5.7 M is literally peanuts for a Series title sponsorship, NASCAR teams get that to run one car. With the new FOX package, there will be a new NHRA title sponsor come on board, count on it. Actually, this is truly a blessing for the NHRA Series, Mellow Yellow sucks.

 

[SundayNiagara]

$5.7 M is literally peanuts for a Series title sponsorship, NASCAR teams get that to run one car. With the new FOX package, there will be a new NHRA title sponsor come on board, count on it. Actually, this is truly a blessing for the NHRA Series, Mellow Yellow sucks.

But Coke's money doesn't.

 

[J5races]

Who even drinks soda anymore? I haven’t had a soda of any kinds for more than 8yrs. Aren’t sodas the new Tobacco?

 

[none]

What else could go south in 2020? God only knows. I close my eyes and go back in time, I am at Lions and life is good, I wish.
NHRA needs our support.



TopFuel@Lions
Talladega Announcer.....Roll Tide!

I just wish for things to even be like they were in the '00s

 

[Rajunz]

But Coke's money doesn't.

That's not a lot of money in the grand scheme of things.

 

[TSK]

Seriously ... Teetering on serious recession? What?

If not depression? Again what?

Where do you people get this doomsday crap? Makes me laugh hysterically. You can't possibly think that.

A recession is defined as two consecutive quarters of negative growth. We're in the middle of that.
If the economy is so good, why did NHRA cut the purses again? Why did Coca-Cola stop the sponsorship?
8.4% national unemployment.
Yeah, things are just peachy.

 

[Rajunz]

A recession is defined as two consecutive quarters of negative growth. We're in the middle of that.
If the economy is so good, why did NHRA cut the purses again? Why did Coca-Cola stop the sponsorship?
8.4% national unemployment.
Yeah, things are just peachy.

Do you even have a 401k plan?

 

[Mike_in_Toney]

Well hopefully NHRA was reading the tea leaves and had already been talking to other sponsors once the purse money started dropping.... hopefully.

 

[sammi]

If you haven't noticed layely, on TV especially, corporate America is moving to a new paradigm. There will be very little patience for any person or group or sports organization that refuses to change with the times.

Ask yourself, why doesn't Coca Cola want their name and corporate prestige on NHRA drag racing.

 

[camaro]

maybe coke had an 'out clause' in the contract, in the event of a pandemic and NHRA figured, what are the odds !

 

[glofria]

Yea right, that's why NHRA sued. Folks this pandemic is an act of God and not Coke or NHRA's fault.

He's what I think happened and what will happen. Coke wants to downsize (or change) their offerings: mello yellow is going away for the reasons some have already expressed. Coke offered a low-ball buy out of the agreement and NHRA rejected. NHRA, rather than enter into a bitter negotiation filed suit to force Coke's hand because they have a strong case.; it's hard to deny a signature on an agreement. If Coke doesn't want to pay up or prolong the hearing, NHRA can claim damages and ask for more money. Suing is the last resort, so there has been some negotiation going back-and-forth over the last few weeks without resolve. Suing is NHRA's way to put pressure on Coke to up the amount on the buy out and they have a strong case.

 

[glofria]

Do you even have a 401k plan?

Mines up for the second straight quarter (with 10 days to go).

 

[Dragracer]

Thanks to Luke Nieuwhof for his post and providing the link to NHRA's actual court filing. One of the last things in the filing is for immediate injunctive relief which would require Coca Cola to continue paying NHRA during the time this is working it's way through the legal system. Once a lawsuit is filed I don't know how soon it's reviewed by the courts and that could happen. The court is not going to approve immediate injunctive relief without letting Coke dispute the request. If it's not approved NHRA is on it's own until the case is resolved in court which could be a long time and very expensive for NHRA if they lose.
It's going to be very interesting and in the mean time any prize money is coming out of NHRA's pocket and they aren't very deep right now.
Hopefully Luke Nieuwhof is able to stay on top of this and let us know as soon as something happens.

 

[Luke Nieuwhof]

Hi Terry, it wasn’t my upload. Someone else posted the link on Facebook.
I think NHRA have been quite up front with a lot of facts, including that Coca-Cola have been wanting out for a few years.
I don’t think it is related purely to Mello Yello being phased out, remembering that Coca-Cola has sponsored the series since 2002 with the Powerade and Full Throttle brands.

 

[ironpony]

The beverage distributor and manufacturer reported net operating revenues of nearly $31.9 billion for the year 2018
NHRA sponsorship is chump change.
Coke can tie this up for the next 10 years in court.
Heck it costs more to run a team than to sponsor the series

 

[Notch1320]

This is crazy. I posted here a while back when NHRA was laying off people that they were filing for bankruptcy and I'm sure the loss of the series sponsor will fast track that filing. NHRA has to go into survival mode & I'll bet that the Gator's will be the last race of the season. Rumor has it that the Pro teams are having a meeting Thursday to discuss all the crap that's going on. See ya next year if there is one...

 

[StevieP]

Seriously ... Teetering on serious recession? What?

If not depression? Again what?

Where do you people get this doomsday crap? Makes me laugh hysterically. You can't possibly think that.

Where do you live and what do you do for a living? I own a concert sound production business (or what's left of one). I am down 86% over last year. Glad you are not living in the same reality as me.

 

[Paul]

The CEO of Camping World Marcus Lemonis just tweeted to the NHRA they aren't scared of commitments to racing, let's sit down and talk sponsorship..we're good for it. This is a positive development.

 

[Paul]

This is crazy. I posted here a while back when NHRA was laying off people that they were filing for bankruptcy and I'm sure the loss of the series sponsor will fast track that filing. NHRA has to go into survival mode & I'll bet that the Gator's will be the last race of the season. Rumor has it that the Pro teams are having a meeting Thursday to discuss all the crap that's going on. See ya next year if there is one...

PRO put out a statment yesterday saying they are committed to finishing out the year.