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SBD/16/Leagues Governing Bodies
CART/FEDEX DEAL NOT ABSOLUTELY, POSITIVELY SIGNED OVERNIGHT
Published September 16, 1997
FedEx "begins negotiations this week" with CART to "become the title sponsor of its racing series, a spot now held by PPG Industries," according to Shannon Stevens of BRANDWEEK. While FedEx "is expected" to land title sponsorship, PPG, with CART since '79, "will likely stay on board as presenting sponsor" (BRANDWEEK, 9/15 issue). OBSESSION: In Baltimore, Peter Jensen on NASCAR: "Call it a religion, a fad, a social phenomenon, but NASCAR racing is hot right now, and not just in the South." Stock car racing "has become a national obsession -- and a marketing executive's dream," the "perfect marriage of professional sports and marketing." Jensen wrote that more than 10.5 million attended NASCAR events during the February-November season, making it a $2B-a-year industry and that the 32 Winston Cup races "are the most popular races in the world." Gatorade's Dir of NASCAR Marketing Edward Shull: "If we had a free dollar in our sports marketing department right now, it would go to NASCAR" (Baltimore SUN, 9/14). ATTENDANCE: NASCAR's Country Music Television 300 at the New Hampshire International Speedway drew an "estimated" crowd of 88,000 Sunday (Lessels & Vega, BOSTON GLOBE, 9/15).