Post by dalejrfan on Apr 5, 2006 23:06:22 GMT -5
Sprint/Nextel says it isn't looking to run away from costly NASCAR title sponsorship
Sprint/Nextel officials denied a published report that the company might be looking to get out of its 10-year, $700 million sponsorship deal with NASCAR's top series, and then said they couldn't, even if they wanted to.
Tom Murphy, Sprint/Nextel's vice president of sports sponsorships, and Mark Schweitzer, the chief marketing officer, spoke on a conference call Tuesday.
"We want to end any speculation about our commitment to the sport," Murphy said.
The topic came up after news came out over the weekend that Michael Robichaud, vice president of sports marketing, and Jill Gregory, director of Nextel Cup Series marketing, were leaving the merged company.
Murphy and Schweitzer also denied that top executives at the merged Sprint/Nextel are not as fond of NASCAR as those who ran things when Nextel made the deal.
Regardless, Schweitzer said, the deal that began with the
start of the 2004 season includes provisions to "protect" the sport.
"There's the multiyear nature of the investment as well as the lack of 'outs,'" Scwheitzer said.
Anticipating consolidation in the wireless communications industry, the deal includes a provision for one change to the name of the series during the term of the deal.
Schweitzer said Sprint/Nextel and NASCAR have backed up the time table on deciding whether or not to change the name of the series from Nextel Cup to Sprint Cup - or anything else - for 2007.
Originally, a decision on whether to do that was to be made in February, but now that has been moved back to midyear.
Sprint/Nextel officials denied a published report that the company might be looking to get out of its 10-year, $700 million sponsorship deal with NASCAR's top series, and then said they couldn't, even if they wanted to.
Tom Murphy, Sprint/Nextel's vice president of sports sponsorships, and Mark Schweitzer, the chief marketing officer, spoke on a conference call Tuesday.
"We want to end any speculation about our commitment to the sport," Murphy said.
The topic came up after news came out over the weekend that Michael Robichaud, vice president of sports marketing, and Jill Gregory, director of Nextel Cup Series marketing, were leaving the merged company.
Murphy and Schweitzer also denied that top executives at the merged Sprint/Nextel are not as fond of NASCAR as those who ran things when Nextel made the deal.
Regardless, Schweitzer said, the deal that began with the
start of the 2004 season includes provisions to "protect" the sport.
"There's the multiyear nature of the investment as well as the lack of 'outs,'" Scwheitzer said.
Anticipating consolidation in the wireless communications industry, the deal includes a provision for one change to the name of the series during the term of the deal.
Schweitzer said Sprint/Nextel and NASCAR have backed up the time table on deciding whether or not to change the name of the series from Nextel Cup to Sprint Cup - or anything else - for 2007.
Originally, a decision on whether to do that was to be made in February, but now that has been moved back to midyear.