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Nexen pulls out of Formula Drift

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Nexen Tire America Inc. is withdrawing its sponsorship with Formula Drift Holding LLC for the 2014 race season. The company plans to return to the Formula Drift series after developing a new competition tire.

Nexen is happy with the partnership with Formula Drift and its team of drivers but needs to focus marketing efforts on programs that better fit its core competencies, according to Kyle Roberts, Nexen’s director of marketing.

“We manufacture high quality tires at a great value, and some of our patterns fit the need of casual drift enthusiasts perfectly,” says Roberts.

“However, we are currently in the beginning stages of developing a competition tire that is designed to perform consistently at the high level demanded by us and our drivers.”

Roberts says Nexen has plans to re-enter a partnership with Formula Drift once the company has developed and tested a competition tire that better showcases the Nexen brand.

“We love being involved with the drift community and sharing in the passion exhibited by its fans, drivers and sponsors,” Roberts says. “We look forward to coming back in the near future, and when we do, we are coming back to win.”

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