Rumors are swirling that Danica Patrick will announce plans next week to drive full-time on the Nascar Nationwide Series in 2012 after splitting her time this year between Nascar and IndyCar this year. The idea is for Patrick to continue to drive the No. 7 GoDaddy.com car for JR Motorsports in Nationwide events and run a few Sprint Cup events for Stewart Haas Racing. Patrick would get a full-time Sprint Cup ride with SHR in 2013. SHR spokesperson Mike Arning said on Wednesday that no deal is set with Patrick.
Patrick has had limited success in her part-time Nascar career to date on the JV Nationwide circuit. Her fourth place finish in the Sam’s Town 300 in March was the highest finish ever by a woman in a Nascar race. Yet last year her average finish was 28th in 13 Nationwide events and this year it is 15th after six events. The competition in Sprint Cup is even fiercer and her learning curve will be steep.
Patrick won't be the most talented driver on the track, but she brings something to the table that few drivers these days do: sponsors. Look for GoDaddy to pick up the primary sponsorship of Patrick's Sprint Cup ride. The Internet domain registrar is primary sponsor for 20 races this year on Mark Martin's No. 5 car for Hendrick Motorsports, but Martin is out after this year and Farmers Insurance will sponsor Kasey Kahne when he moves into the No. 5 car in 2012. GoDaddy will be looking for somewhere to put that freed up sponsorship cash to work.
A full-time Sprint Cup ride will certainly boost Patrick's current $12 million annual income and place her among Nascar's highest-paid drivers. Her current IndyCar contract with Andretti Motorsports contains a revenue sharing component that makes it the most lucrative in IndyCar worth $5 million annually. She will likely get a slight bump next year, although Nascar owners having been trying reign in driver salaries with sponsorship revenue down.
The real payoff for Patrick will come in licensing money and sponsorships. Nascar licensing revenues have fallen off a cliff in recent years, but the top drivers still pull in more than $2 million annually with Dale Earnhardt Jr. (owner of JR Motorsports) raking in $7 to $8 million annually from licensing. Expect Danica gear to fly off the shelves which will boost Patrick's bank account.
Patrick currently has 10 personal sponsorships deals with the likes of Hot Wheels, Tissot watches, Peak Antifreeze and Marquis Jet. Nascar is among the top five most popular sports on TV while open wheel racing doesn't crack the top 15 in the U.S. The exposure she gets in Nascar each week will attract new sponsors and increase the value of her current deals.
Patrick won one race in seven years of IndyCar racing, but can she defy the odds and manages to win in Nascar? Then the sky is the limit. Patrick could challenge Maria Sharapova as the highest-paid female athlete in the world.
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