Wheels & Deals: Big Three Face Uncertain NASCAR Future
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Federal Oversight Could Further Deter Automakers
From Spending Big In NASCAR |
USA TODAY's Nate Ryan in a sports-section cover story reports as the nation's three largest automakers, Ford, GM and Chrysler, "fight for survival, their uncertain future threatens a longstanding connection to another American staple: NASCAR." Ford, GM (Chevrolet) and Chrysler (Dodge) made up "roughly 75%" of the entries in the '08 Sprint Cup Series, and there are "many questions about how much manufacturer support -- a multilayered package of cash, technical support and parts -- those teams will receive" in '09. Cutbacks by the companies will "reduce each company's NASCAR outlays by at least 20%." Autoextremist.com Editor Peter DeLorenzo estimated that the companies "spend about [$120-140M] annually on NASCAR" and said that "more cuts could be coming." DeLorenzo: "With Washington oversight, it'll be difficult going forward to write hefty checks to NASCAR. This could be the end of team contracts as we know them" (USA TODAY, 12/22).
DOWNSHIFT: In Las Vegas, Jeff Wolf wrote the NHRA is "headed for the biggest hit" from the economy, as last week it was "expected that Caterpillar will announce it is pulling sponsorship of the David Powers Motorsports Top Fuel team." The move will come on top of several other recent sponsorship departures, as UPS "left Bob Vandergriff's Top Fueler, and SnapOn Tools packed up and left Doug Herbert." John Force Racing also "lost Old Spice sponsorship of top rookie Mike Neff's Funny Car when Old Spice had to increase support of" NASCAR driver and Stewart Haas Racing co-Owner Tony Stewart (LVRJ.com, 12/18).
GOING GREEN: Bristol Motor Speedway announced that its March NASCAR Nationwide Series race will be sponsored by the Scotts Miracle-Gro Company. The Scotts Turf Builder 300 will be held March 21 (SCENEDAILY.com, 12/20).
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