The Revolutionary STP-Petty Partnership
In the world of NASCAR, few sponsorship deals have been as transformative as the partnership between Richard Petty and STP. This groundbreaking collaboration fundamentally changed how racing teams approached corporate sponsorship, setting a new standard for nationwide marketing in motorsports.
The Historic Meeting
In 1970, Petty Enterprises made a bold move that would reshape NASCAR’s commercial landscape. Richard Petty, along with Dale Inman and his brother Marce, traveled to Chicago to meet with Andy Granatelli, the face of STP, at the company’s headquarters. Until then, race cars typically only featured local dealership logos, making this potential nationwide sponsorship unprecedented.
"We’d never had a sponsor… you might have had locals dealership or something on the side of your car but nothing that went Nationwide" – Richard Petty
The Negotiation
The initial offer from STP was $250,000 – an astronomical sum for the era. However, the deal nearly fell apart over one crucial detail: the car’s color. STP wanted the signature daylight red, while Petty insisted on maintaining his traditional Petty blue.
| Sponsorship Details | Terms |
|---|---|
| Initial Offer | $250,000 |
| Color Bonus Offer | $50,000 |
| Original Car Color | Petty Blue |
| STP’s Desired Color | Daylight Red |
| Final Solution | Half-and-half design |
Standing Firm on Tradition
Despite the additional $50,000 offered to paint the car completely red, Petty made a remarkable decision to stand his ground.
"We had always been the brand… Petty Enterprises a blue car. If we paint this thing red, we’re not Petty Enterprises anymore" – Richard Petty
The Compromise
After overnight negotiations with Granatelli and his PR team, both parties reached a historic compromise: the car would feature both colors in a half-and-half design. This distinctive look would become one of the most recognizable paint schemes in NASCAR history.
A Lasting Impact
The partnership proved incredibly successful for both parties. Unlike predictions from IndyCar figures who warned about potential interference, Granatelli maintained a hands-off approach. He visited the team’s facility once, arriving by helicopter, but otherwise let Petty Enterprises operate independently.
The success of this sponsorship deal revolutionized NASCAR’s business model. As Petty noted, the cup racing program became "Head and Shoulders above" other advertising investments STP had made, primarily because the team continued winning races and delivering results.
Legacy
This partnership demonstrated how corporate sponsorship could work harmoniously with racing tradition, creating a model that NASCAR teams still follow today. It proved that maintaining team identity while embracing corporate partnerships could create lasting value for both parties, fundamentally changing how racing teams approach sponsorship deals.
