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17th
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American telecommunication giant Sprint announced on Tuesday that it would not extend its sponsorship of the NASCAR Sprint Cup Series beyond 2016.
The significant changes within Sprint and the highly competitive business environment it is in led to a decision not to extend its Cup Series entitlement position following the 2016 season.
Sprint has been the title sponsor for NASCAR's top series since 2004, when Nextel signed a 10-year agreement for the Nextel Cup Series. The name changed to the Sprint Cup Series in 2008 following the corporate merger between Nextel and Sprint.
"We are proud of our association with NASCAR's top series but have made the decision not to extend our sponsorship beyond the next two years," Sprint's vice president-Marketing Steve Gaffney said.
"As we look to the future, Sprint is focused on investing in maintaining a competitive edge and providing consumers with the best value in wireless."
The announcement Tuesday gives NASCAR two seasons to find a replacement.
The significant changes within Sprint and the highly competitive business environment it is in led to a decision not to extend its Cup Series entitlement position following the 2016 season.
Sprint has been the title sponsor for NASCAR's top series since 2004, when Nextel signed a 10-year agreement for the Nextel Cup Series. The name changed to the Sprint Cup Series in 2008 following the corporate merger between Nextel and Sprint.
"We are proud of our association with NASCAR's top series but have made the decision not to extend our sponsorship beyond the next two years," Sprint's vice president-Marketing Steve Gaffney said.
"As we look to the future, Sprint is focused on investing in maintaining a competitive edge and providing consumers with the best value in wireless."
The announcement Tuesday gives NASCAR two seasons to find a replacement.
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| Photo: NASCAR |