Re: Lowe's Motor Speedway no longer Lowe's -
08-01-2009
, 09:49 AM
Don't look now but it looks like we will have to continue hearing
Lowe's instead of Charlotte Motor Speedway. Rats.
Suddenly, after seeing yesterday's news, it looks like Bruton is
willing to accept a lot less than he had been getting from Lowe's.
I expect it will be less than half.
___
Lowe's, SMI refute report
Associated Press
SPARTA, Ky. -- Officials from Speedway Motorsports Inc. and Lowe's
insist they are still talking in the wake of a report that the home
improvement chain is ending its sponsorship of SMI's flagship track.
The Sports Business Journal reported Friday that Lowe's will not renew
its 11-year sponsorship of the 1.5-mile oval outside Charlotte,
formerly known as Charlotte Motor Speedway.
SMI president and CEO Marcus Smith said both sides are still
negotiating and that he remains confident a deal will be completed
soon.
"We're still working on and discussing the components of another
extension to continue our relationship," Smith said. "Those components
have not been finalized, but the process is moving along."
The track hosts several NASCAR events each year, including a pair of
Sprint Cup races and the series' All-Star race.
Lowe's spokeswoman Chris Ahern said there was "nothing to report"
about the nature of the company's talks with the track.
Lowe's is also the primary sponsor of three-time defending Sprint Cup
champion Jimmie Johnson. That deal expires at the end of the 2010
season.
Johnson said Friday before this weekend's Sprint Cup event at Pocono
Raceway that his relationship with Lowe's is "great" and he's not
worried about what Lowe's decision might mean about its future in
NASCAR.
"It's unfortunate that they're not going back, but I guess it is what
it is," he said.
SMI owner Bruton Smith, in Kentucky for this weekend's IndyCar race at
Kentucky Speedway -- which is owned by SMI -- could not be reached for
comment.
http://sports.espn.go.com/rpm/nascar/news/story?id=4370297
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