NASCAR has completed negotiations with Nextel to be the next series sponsor replacing R. J. Reynolds, according to industry sources. The only questions left are when the announcement will be made, what happens to The Winston all-star race, and who will do all the behind-the-scenes work that RJR executives have done for many years. NASCAR officials would like to wait until the Pepsi 400 at Daytona in three weeks for the announcement, according to sources. No financial figures are available on the Nextel deal or how Fox, NBC and TNT will share in the new TV ad revenues. RJR pays NASCAR between $40 million and $50 million a year on a roll-over five-year contract, sources say. Visa offered NASCAR $80 million a year (apparently including monies for TV ads) with a 10-year contract, according to sources — NASCAR liked the package but could not provide exclusivity.( Winston Salem Journal ), see past news posted here a few days ago on my NASCAR Sponsor page , Nextel and VISA seem to be the front runners.(6-14-2003)
