Home Depot puts the brakes on NASCAR

Home Depot (NYSE:HD) has opted not to renew its NASCAR sponsorship of Joe Gibbs Racing when its contract expires after 15 years. The home improvement retailer has also ceded primary sponsorship of races run by Matt Kenseth of the Gibbs team to Dollar General.

While neither the retailers nor teams commented on the story, the reevaluation of sponsorship could be a sign that NASCAR's aging fan base is no longer as desirable a market for retailers looking to attract younger, millennial shoppers. Story