Jul 12, 2010
NASCAR Forms NASCAR Teams Licensing Trust
The NASCAR industry has announced the official formation of the NASCAR Teams Licensing Trust, an industry operated organization created to provide NASCAR fans with new and innovative licensed products. The Licensing Trust, which along with the sanctioning body is initially composed of NASCAR teams including more than 30 NASCAR national series drivers, will streamline the licensing opportunities and processes for its partners and bring operational efficiency to the entire industry.
The Licensing Trust, which is open to any NASCAR national series race team that chooses to participate, will initially explore merchandising opportunities in four key categories – apparel, collectable die-cast, toys, and trackside retail. The Licensing Trust is structured to add licensing categories in the future. NASCAR and the teams will directly manage their respective licensing rights in categories outside the Licensing Trust.
The NASCAR Teams Licensing Trust has recently formed a joint venture with Lionel Electric Trains to make and sell NASCAR replica die-cast racecars.
The joint venture is not a traditional licensee agreement; both the Licensing Trust and Lionel will actively manage and develop the business, in which it will be partners.
Lionel has plans to offer fans and collectors die-cast models representing all of the teams and more than 30 NASCAR national series drivers included in the Licensing Trust. The joint venture will take over the category from Motorsports Authentics, a Concord, N.C.-based company that will instead focus on its core competency of trackside retail and be the exclusive die-cast car retailer at NASCAR tracks around the country.
