NASCAR Rumors: Joe Gibbs Racing faces potential loss of FedEx sponsorship due to budget cuts

FedEx, the longtime primary sponsor of Denny Hamlin, reportedly plans to limit its sponsorship presence with Joe Gibbs Racing after the 2024 season. The Tennessee-based company could also close its chapter with the driver of the #11 Joe Gibbs Racing Toyota.

According to Adam Stern of the Sports Business Journal, FedEx announced last year its plan to cut $4 billion worth of costs by fiscal 2025. The global delivery company had reportedly been spending upwards of $25 million on JGR for rights fees.

FedEx had been a staple on Hamlin's car between 2006-2020. In 2021, the company began pulling back the amount of sponsorship presence on the Chesterfield native's driver. In recent memory, the 54-time Cup Series winner has brought on companies such as Mavis Tires & Brakes, Sport Clips, Interstate Batteries and Yahoo as primary sponsors.

Per Stern's article, JGR has sought new sponsorship ahead of 2025, with the idea that FedEx could be leaving completely at the conclusion of this season. Stern couldn't confirm whether there were any "last-ditch talks" between the race team and the company, and both sides didn't comment on the situation.

FedEx has limited its sponsorship presence in other sports too as the delivery company ended its longtime partnership with the Washington Commanders, the NFL franchise whose field had been named FedEx Field since 1999. Coincidentally enough, Joe Gibbs is the former head coach of the Commanders who won three Super Bowl titles with the organization.

FedEx's partnership with JGR dates back to 2005, even before Hamlin was in the Cup Series. The company sponsored the late Jason Leffler in the 2005 season, but poor results led Leffler out of a ride ahead of 2006, which gave the opportunity for Hamlin to pilot the #11 FedEx car.

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Denny Hamlin's other sponsors

While FedEx has had the biggest sponsorship presence throughout his career, Denny Hamlin has worked with other major sponsorships over the years. The 43-year-old has shared a longtime partnership with Coca-Cola and is a part of the Coca-Cola Racing Family.

In July 2022, the soft drink company was Hamlin's primary sponsor for the first time in his career in the Quaker State 400 at the Atlanta Motor Speedway.

Hamlin has also shared a partnership with Sports Clips. The three-time Daytona 500 champion has won multiple races with the hair salon company, including the 2017 Southern 500 at the Darlington Raceway.

Hamlin has partnered with Mavis Tires & Brakes in recent memory. He won at Pocono last year with Mavis Tires & Brakes on the hood for their first win as Hamlin's primary sponsor. Hamlin also won earlier this year at Richmond with Mavis Tires & Brakes on the hood.