Busch series gets new sponsor
NASCAR will announce today that they have signed a multi-year contract with insurance company Nationwide to replace Anheuser-Busch as the title sponsor of their Busch Series
An official announcement will be made today by NASCAR Chairman and CEO Brian France and Nationwide Insurance CMO James Lyski during a teleconference.
Anheuser-Busch has been the main sponsor of NASCAR's second division since 1982, when they gave a new title name to what was known until then as the Late Model Sportsman Series.
In 1984 they switched the entitlement of the series to their Busch brand and has remained so until this year, when the company announced that they would stop their sponsorship deal of the series from 2008.
Nationwide has reportedly signed a deal for the next seven years and worth more than US 10 million per season, after months of negotiations between NASCAR and companies such as Subway and Yum! Brands, owners of the KFC restaurants.
The new deal might probably force NASCAR and their parent company ISC, which controls some of the tracks their series race at, to review some of their current deals with other insurance companies such as Allstate and AAA Insurance.
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