Bob,
Let's take a look at the value of sponsorships on a car and the average TV audience and then tell me there is no correlation.
F1 sponsorship is the most expensive - AVG TV audience approx. 250 million? Major sponsorship can be up to $80 million/year
Nascar is next - AVG TV audience approx 15 million? Major sponsorship is over $10 million/year
ALMS/GA - AVG TV viewership 1/2 million? sponsorship doesn't even cover operating costs of the team
These are all very rough numbers based on informed internet speculation and do differ between teams but you get the picture I hope.
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