Infineon Technologies will
not renew its sponsorship of the Sonoma, California, facility when its decade-long
contract expires in May. The deal was reportedly worth more than $34 million to
the track’s parent company, Speedway Motorsports, Inc., and SMI Vice President
for Marketing and Communications John Cardinale told Sports Business Journal
that several companies are interested in securing naming rights to the track
when Infineon withdraws. "There are three or four companies we're talking
to," said Cardinale. "I wouldn't say they're ready to sign, but
they're certainly interested. If no replacement sponsor is
found, the track will likely revert to its previous name, Sears Point Raceway,
which it carried until Infineon’s arrival in June of 2002.
This marks the second time
in the last three years that Speedway Motorsports, Inc. has been forced to
replace a title sponsor at one of its properties. In late 2009, Lowe's withdrew
from its own 10-year naming rights agreement with North Carolina’s Charlotte (formerly
Lowes) Motor Speedway.
Its sad, but its the sign of the times. right now, there are not many racetracks that have a title sponsor. Even Toyota Speedway in Erwindale is gone.
ReplyDeleteAs a matter of fact, I can't even think of one track right now that does have a title sponsor.
I just have to wonder if any company is really interested in being a title sponsor anymore for a racetrack.
The economy is not in any kind of shape to support anything including the American people needs
ReplyDelete$34 million could sponsor two top flight cup cars for a season
ReplyDeleteAs a Bay Area Native, I never knew the track as Infineon. Its always been Sears Point, and always will. I've raced at the Wednesday Night drags, gone to the Cup races, and every time it was Sears Point, up to 2011 and for me, beyond.
ReplyDeleteWe need new sponsorship blood in the sport. We also need consistency. Its one of the many double edged swords in NASCAR. Sponsor the race, but leave the track's good name out of it.
Could you Imagine going to a race at Oscar Meyer Speedway in Martinsville?!