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RACING NEWS: REEBOK BACKS OUT OF IRL TITLE SPONSORSHIP
Published January 16, 1998
Reebok "has decided not to become the series sponsor" of the IRL, sponsoring an IRL car instead, according to Bruce Martin of NATIONAL SPEED SPORT NEWS. Martin reports that IRL officials "did not want its series sponsor to also be a primary sponsor of a car." While IRL execs "refused to discuss Reebok," team owners believed a deal would have been worth "as much as" $7M to the series (NSSN, 1/7 issue). RACING NOTES: NSSN reports more "factoids" from CART's IPO prospectus. CART CEO Andrew Craig's salary, including bonuses, was $573,426 in '96. From '98-2000 his base salaries will be $500,000, $550,000 and $600,000 (NSSN, 1/7 issue)....Former IMS exec Bill Donaldson's Premier Management Group has taken over the day-to-day operations of the Las Vegas Motor Speedway (LAS VEGAS SUN, 1/15).