Suburban Propane becomes Official Propane Partner of NASCAR and Speedway Motorsports

Rhea-AI Summary

Suburban Propane Partners (NYSE: SPH) has announced a multi-year partnership with NASCAR and Speedway Motorsports, becoming the Official Propane Partner for both organizations. The partnership includes providing propane for new track dryers in NASCAR's fleet starting February 2025, and becoming the Official Propane supplier for 19 major speedways across the United States.

The collaboration involves on-site services for campers during NASCAR events, propane for in-stadium concessions, and year-round support services at track properties. A new co-branded logo will be displayed on Suburban Propane bobtails and customer service centers across their 42-state footprint.

This partnership expands Suburban Propane's presence in professional sports and aligns with their core business of serving approximately 1 million customers through 700 locations nationwide.

Positive

• Strategic expansion into motorsports market with exclusive NASCAR partnership
• Increased brand visibility across 19 major speedways and 42 states
• New revenue streams from track operations and event services
• Enhanced market presence through co-branded marketing initiatives

Negative

• None.

News Market Reaction

+2.63%

1 alert

+2.63% News Effect

On the day this news was published, SPH gained 2.63%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

WHIPPANY, N.J., Jan. 14, 2025 /PRNewswire/ -- Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives, today announced that it has entered into a multi-year partnership with NASCAR, America's No.1 motorsport, and sports entertainment and facility operator Speedway Motorsports, making Suburban Propane the Official Propane of NASCAR and Speedway Motorsports.

As the Official Propane of NASCAR, Suburban Propane will provide the propane for the new, propane-powered track dryers that NASCAR will add to its fleet starting this season. These dryers are used alongside NASCAR's Air Tundras, as well as traditional jet dryers utilized for drying the racetrack. In addition, Suburban Propane becomes the Official Propane of Darlington Raceway, Daytona International Speedway, Homestead-Miami Speedway, Martinsville Speedway, Phoenix Raceway, Richmond Raceway, Talladega Superspeedway and Watkins Glen International. As part of the partnership, Suburban Propane will provide on-site services for campers at each track property during NASCAR event weekends, and propane for in-stadium concessions.

As the Official Propane of Speedway Motorsports, Suburban Propane becomes the Official Propane of Sonoma Raceway, Las Vegas Motor Speedway, Texas Motor Speedway, Nashville Superspeedway, Bristol Motor Speedway, New Hampshire Motor Speedway, Dover Motor Speedway, Charlotte Motor Speedway, North Wilkesboro Speedway and Atlanta Motor Speedway. Suburban Propane will provide support services year-round to speedway operations staff and campers on-site at each track property during NASCAR event weekends.

"Uniting Suburban Propane, NASCAR and Speedway Motorsports represents a strong partnership among three longstanding and well-recognizable American brands serving a broad and diverse audience," said Nandini Sankara, Vice President, Marketing & Brand Strategy and Spokesperson for Suburban Propane. "As the Official Propane of NASCAR, we are excited to make a meaningful contribution at the racetracks and foster a dynamic collaboration that meets the needs of NASCAR and its fans."

The Suburban Propane-branded and powered track dryers will debut in February 2025, servicing NASCAR races across the country. In addition, a new co-branded logo involving Suburban Propane and NASCAR will be displayed on all Suburban Propane bobtails and at customer service centers across Suburban Propane's 42-state footprint.

"Through this new partnership with Suburban Propane, we share a commitment to ensuring an optimized experience at NASCAR events across the country – both on and off the track," said Michelle Byron, NASCAR executive vice president and chief partnership and licensing officer. "There's nothing like attending a NASCAR race, and together with Suburban Propane we aim to continue to enhance the race experience for our fans where dependability and speed go hand in hand."

"We've had very positive business relationships between Suburban Propane and some of our speedways for many years," said Kevin Camper, Speedway Motorsports Chief Commercial Officer. "We're now expanding those relationships company wide and will work with Suburban to provide convenient propane refill stations accessible to fans near our campgrounds. It's a pleasure to add a service-oriented company like Suburban Propane to our family of Speedway Motorsports Official Partners."

With this new partnership, Suburban Propane expands its impressive roster of professional sports, corporate, and charitable partnerships throughout its 42-state footprint.

About Suburban Propane:
Suburban Propane Partners, L.P. ("Suburban Propane") is a publicly traded master limited partnership listed on the New York Stock Exchange. Headquartered in Whippany, New Jersey, Suburban Propane has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas ("RNG"), fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through approximately 700 locations across 42 states. 

Suburban Propane is supported by three core pillars: (1) Suburban Commitment – showcasing Suburban Propane's 95-year legacy, an ongoing commitment to the highest standards for dependability, flexibility, and reliability that underscores Suburban Propane's commitment to excellence in customer service; (2) SuburbanCares – highlighting continued dedication to giving back to local communities across Suburban Propane's national footprint; and (3) Go Green with Suburban Propane – promoting the clean burning and versatile nature of propane and renewable propane as a bridge to a green energy future and investing in the next generation of innovative, renewable energy alternatives.

For additional information on Suburban Propane, please visit www.suburbanpropane.com.

About NASCAR
The National Association for Stock Car Auto Racing (NASCAR) is the sanctioning body for the No. 1 form of motorsports in the United States and owner of 14 of the nation's major motorsports entertainment facilities. NASCAR sanctions races in three national series (NASCAR Cup Series™, NASCAR Xfinity Series™, and NASCAR CRAFTSMAN Truck Series™), four international series (NASCAR Brasil Series, NASCAR Canada Series, NASCAR Euro Series, NASCAR Mexico Series), four regional series (ARCA Menards Series, ARCA Menards Series East & West and the NASCAR Whelen Modified Tour) and a local grassroots series (NASCAR Advance Auto Parts Weekly Series). The International Motor Sports Association™ (IMSA^®) governs the IMSA WeatherTech SportsCar Championship™, the premier U.S. sports car series. NASCAR also owns Motor Racing Network, Racing Electronics, and ONE DAYTONA. Based in Daytona Beach, Florida, with offices in five cities across North America, NASCAR sanctions more than 1,200 races annually in 11 countries and more than 30 U.S. states.

For more information visit www.NASCAR.com and www.IMSA.com, and follow NASCAR on Instagram, YouTube, TikTok, X and Facebook. 

About Speedway Motorsports
Speedway Motorsports is a leading marketer, promoter and sponsor of motorsports entertainment in the United States. The Company, through its subsidiaries, owns and operates the following premier facilities: Atlanta Motor Speedway, Bristol Motor Speedway, Charlotte Motor Speedway, Dover Motor Speedway, Las Vegas Motor Speedway, Nashville Superspeedway, New Hampshire Motor Speedway, North Wilkesboro Speedway, Sonoma Raceway, Texas Motor Speedway and Kentucky Speedway. Speedway Motorsports provides souvenir merchandising services through its SMI Properties subsidiaries; manufactures and distributes smaller-scale, modified racing cars and parts through its U.S. Legend Cars International subsidiary; and produces and broadcasts syndicated motorsports programming to radio stations nationwide through its Performance Racing Network subsidiary.

 

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SOURCE Suburban Propane Partners, L.P.

FAQ

When will SPH begin providing propane for NASCAR track dryers?

Suburban Propane will begin providing propane for NASCAR track dryers in February 2025.

How many speedways are included in SPH's NASCAR partnership?

The partnership includes 19 major speedways across the United States.

What services will SPH provide at NASCAR events?

SPH will provide on-site services for campers, propane for in-stadium concessions, and propane for track dryers.

What is the geographic reach of SPH's operations under this partnership?

SPH will operate across their existing 42-state footprint, serving multiple NASCAR venues and speedways.

How will the NASCAR partnership affect SPH's branding?

A new co-branded logo with NASCAR will be displayed on all SPH bobtails and customer service centers across their network.