Nextel IN...R.J. Reynolds OUT

[CountTheStars]

BROOKLYN, Mich. -- According to sources, NASCAR has completed negotiations with Nextel to be the next series sponsor, replacing R.J. Reynolds. An announcement is expected in early July, probably during the week of the Pepsi 400 at Daytona.

RJR currently pays between $40 million and $50 million per year. No figures are available for the contract with Nextel.

NASCAR and Winston had signed a five-year deal in 2002, but recent economic changes had the company questioning its sponsorship.

"Winston and NASCAR have been partners for over 30 years," said Ned Leary, president of R.J. Reynolds Tobacco Co.'s Sports Marketing Enterprises arm.

"Since that time (the signing), our business dynamics have changed dramatically."

It is unknown as to what will happen with NASCAR's all-star event, The Winston

 

[sandwedge]

i hope they keep miss winston.

 

[CountTheStars]

CHARLOTTE, N.C. -- Nextel has reached a deal to become the title sponsor of NASCAR's top racing series, now sponsored by a tobacco company and known as the Winston Cup, NASCAR and team sources said Tuesday.

Two NASCAR sources, speaking on condition of anonymity, said the wireless communications giant will be announced as the title sponsor Thursday at a news conference in New York's Times Square.

NASCAR scheduled what it called a "major news announcement" there Thursday, with chairman Bill France Jr. and top drivers Dale Earnhardt Jr. and Jeff Gordon to attend. It did not disclose the subject.

Two Winston Cup team sources, also speaking on condition of anonymity, said NASCAR officials called them Monday to tell them a deal with Nextel was complete.

While the Winston Cup name will be retired after 31 years, the new name of the series was unclear. Before 1972, it was known as the Grand National Series.

Nextel would take over the sponsorship deal that R.J. Reynolds Tobacco has had since 1972 with the Winston Cup series. It is estimated that R.J. Reynolds has invested from $30 million to $60 million annually in marketing its top cigarette brand through NASCAR.

Despite signing a five-year extension to remain the top sponsor last year, RJR said in February it was giving NASCAR permission to look for a new sponsor for the Winston Cup series because of the uncertain business climate in the tobacco industry.

The company also has been limited in how it can use its sponsorship by the 1998 master settlement of state lawsuits against the tobacco industry.

Reports surfaced late last week that NASCAR, which had also been in discussions with at least three other companies, was close to completing a deal with Nextel.

But NASCAR chairman Bill France Jr. said those reports were "fundamentally premature."

NASCAR was also believed to be talking to Visa and Coca-Cola, and McDonald's has admitted interest in sponsoring the racing series.

Nextel is known among cell phone providers for its "push-to-talk" feature, which allows people to use their cell phones like walkie-talkies.

The signing of the Reston, Va.-based Nextel is part of NASCAR's ongoing effort to raise the national profile of the sport, long associated with the South. Last week, NASCAR said it will shift a key Labor Day race from South Carolina to Fontana, Calif., outside Los Angeles.