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Nextel not Happy? UPDATE 2 – 10 year deal:

June 8, 2004 at 12:00 AM
  • Nextel officials continue to have sticker shock, a year after signing on as NASCAR’s series sponsor. Officially the company has signed a 10-year contract with NASCAR, though some insiders say that it’s a five-year contract with a five-year renewal option. The deal went down so quickly that many of the items that Nextel executives thought they were getting they find they’re still having to negotiate for, and NASCAR sources say they’re not happy.(from the Winston Salem Journal)(6-6-2004)
    HOWEVER “The NASCAR Nextel Cup is an unprecedented opportunity to brand the most exciting championship series in sports, which lasts 10 months of the year, travels to all corners of the U.S., and captures the imagination of 75 million fans,” said Tim Donahue, president and CEO of Nextel. “NASCAR’s reach is unmatched, and we’re thrilled to be associated with it.”(from the Delaware News Journal)(6-6-2004)
    UPDATE 2: NASCAR is denying a report in the Winston-Salem (N.C.) Journal that Nextel’s sponsorship of its Cup Series is a five-year contract with an option for a five-year renewal. “As our organizations had announced last June, Nextel signed a 10-year deal with NASCAR,” NASCAR Director of Business Communications Andrew Giangola told today’s Sports Business Daily. “The Winston-Salem Journal did not contact NASCAR or refer to the widely circulated news release about the agreement and got it wrong.”(NASCAR Scene Daily Newsletter)(6-8-2004)