NASCAR is changing ad agencies, dumping the company that created the award-winning ‘How bad have you got it’ ad campaign and signing on with a company with ties to Nextel, NASCAR’s new series sponsor. Interpublic Group’s Martin Agency of Richmond, Va., will take over for Chicago’s Y& –R. An official at Y& –R said that NASCAR was cutting its ad budget and was getting tight on production, which NASCAR disputed. When the original contract was signed three years ago, it was worth $25 million to $35 million a year. The new contract is estimated to be worth $20 million.( Winston Salem Journal )(7-30-2003)
