FedEx, a long-term sponsor of both Denny Hamlin and Joe Gibbs Racing in the NASCAR Cup Series, is reportedly close to inking a contract extension with the championship-winning organization, per a report from Adam Stern of Sports Business Journal.
The company, currently in the final year of its agreement with Joe Gibbs Racing, has served as the primary sponsor of the No. 11 Toyota Camry TRD in seven of 14 points-paying events this season, after serving as a full-season primary as recently as 2020.
According to Stern; “FedEx is close to striking a contract extension with Joe Gibbs Racing to continue sponsoring the team into the 2024 NASCAR season, per people familiar. The precise scope of the agreement is unclear, but FedEx is expected to retain a sizable presence on the No. 11 Toyota.”
.@FedEx is close to striking a contract extension with @JoeGibbsRacing to continue sponsoring the team into the 2024 @NASCAR season, per people familiar.
🔲 The precise scope of the agreement is unclear, but FedEx is expected to retain a sizable presence on the No. 11 @Toyota. pic.twitter.com/88ZN1Jhfv9
— Adam Stern (@A_S12) June 3, 2023
The impending renewal likely destroys any possibility of Hamlin leaving his post at Joe Gibbs Racing following the conclusion of the 2023 NASCAR Cup Series season, a possibility that only existed should FedEx not return.
Even though Friday’s report fails to mention the status of a contract extension for Hamlin, who has been with Joe Gibbs Racing since he debuted in the NASCAR Cup Series at the end of 2005, the Virginia native has been adamant that he hopes to finish his career at JGR.
Plus, with a sponsorship commitment in the cards, the process of re-signing Hamlin should become rather effortless for Joe Gibbs Racing, allowing the 49-time winner in the NASCAR Cup Series to stay put, barring any wonky circumstances.
