A company can create high-visibility opportunities around athletes to impact target audiences with your message. An athlete's presence can establish or enhance a company's image. Working with a professional sports figure can set a company apart from the competition. An association with high profile names and events will foster a sense of pride and loyalty among a company's employees, customers and vendors. In addition to the previous points, each company has their own reasons for developing an association with a celebrity.
Some companies simply work an athlete into their existing marketing and public relations activities.
Others create entirely new programs around the athlete. Well, it's the exact opposite in auto racing. This sport hasn't traditionally been able to charge a fortune for TV rights or tickets, so it has long needed corporate dollars to survive. Most, if not all, of the cost is covered by sponsorships. Like any other sport, Auto Racing is a team sport.