As Goes the Big Three, so Goes NASCAR?

The economy is in the tank. The Big Three, thought to be "too big to fail,"
appear to be headed for bankruptcy with the government loan package stalled
in Congress.

Companies are cutting back and folding left and right. Sponsorship dollars are disappearing faster than Martinsville hotdogs.  So,
where does that leave NASCAR, which is so dependent on corporate backing?

NASCAR will be around in 2009, just in a different form than anyone has
ever seen before. When Dale Earnhardt Inc. was founded, did anyone picture
a time when they would have to merge with anyone, even open-wheel outsider
Chip Ganassi, just to survive? Did anyone ever think they would see a time
in NASCAR where Petty Enterprises was on the brink of extinction? I don't
think the Wood Brothers returning to part-time racing is what NASCAR had in
mind they announced a push to "get back to basics."

US auto racing is not bulletproof, so NASCAR needs to be smart and make
adjustments to keep themselves afloat while the economy recovers. There
are enough moving parts that will keep NASCAR running—the sport is not
so dependent on one singular thing that a collapse of that one piece means
a collapse of whole—in short, NASCAR is "too big to fail."

I'm not saying there won't be casualties, there already has been. Layoffs have
spread throughout the garage, even to the reigning championship
organization Hendrick Motorsports. Of course, every merger bring job loss,
so as teams consolidate to survive, the proverbial "guys back at the shop"
are in jeopardy.

Unfortunately, there really isn't much NASCAR can do or change without
drastically upsetting the basic structure of the sport (sanctioning body &
independent contractor race teams). NASCAR can't go and make too many
changes without running the risk of alienating an already polarized fan
base—core fans already disenchanted by series sponsor changes (two for Cup
in less than five years), points system changes, the COT, the expansion of
NASCAR to new markets, leaving its traditional southeast roots behind, etc.

I believe the changes will be less visible and more financial/structural:

• Everyone in NASCAR, from top to bottom, will have to examine budgets and spending and get by with less. NASCAR, ISC, SMI, tracks, teams, drivers, crews, everyone will have to make some cuts for the health of the sport overall.
• A redistribution of wealth to help those less fortunate during this hard time. Perhaps race purses can increase or at least redistributed a bit more evenly from first to 43rd. Perhaps more special awards/incentive programs for running the races, enrolling in a particular plan...anything to bump up the race day earnings.
• Maybe a NASCAR public works-style project to help employ those who've lost their jobs.

The basic form of NASCAR—sanctioning body and independent contractor
race teams—has been around for over 60 years. NASCAR isn't in a
position to do much different this year than they did last year, without
interfering with the free-market system of the NASCAR economy.

The core problem is money—tens of millions of dollars aren't lying around like
they used to, ready to fund a competitive program. Anything NASCAR can do
to help redistribute the wealth, helping as many folks survive the slow
economic time as they realistically can, keeping the sport as diverse and
competitive as possible, the better position NASCAR will be in once the
recession eases and the pace of the economy picks up again.

One thing is for sure, 2009 won't look anything like 2008.