Automakers' woes expected to impact NASCAR

Dec. 22, 2008 at 11:43 AM

DETROIT, Dec. 22 (UPI) -- The financial woes of Detroit automakers during the recession could result in a significant blow to the NASCAR racing circuit, experts say.

Auto industry analyst Peter De Lorenzo said with automakers seeking federal aid, the continuation of company contracts with NASCAR racing teams may become a near impossibility, USA Today reported Monday.

"With Washington oversight, it'll be difficult going forward to write hefty checks to NASCAR. This could be the end of team contracts as we know them," he said. "If the manufacturers go away completely, NASCAR's going to be truly hurting."

NASCAR Chairman Brian France supported a federal bailout of the auto industry in a letter to Congress this month, but he assured NASCAR fans the sport would survive.

"But we won't live or die in a pullout or pullback," France said.

Hendrick Motorsports owner Rick Hendrick agreed, telling USA Today that less involvement by automakers such as Ford and Chevrolet would not be an insurmountable issue.

"Financially, it's not the lifeblood anymore. It's going to hurt if they're not there, but we'll adjust," he said.

Related UPI Stories
Topics: Brian France
Latest Headlines
Trending News
Seattle Seahawks RB Marshawn Lynch out for MNF
New York Yankees get wild-card home field despite loss
Atlanta Falcons: 3 things we learned after Week 4 rout of Houston Texans
ACC football weekend review: Clemson Tigers hold off Notre Dame, earn national respect