facebook
twitter
rss
account
search
search
 

Economic slump means rough road at NASCAR

Feb. 12, 2009 at 3:09 PM   |   Comments

DAYTONA BEACH, Fla., Feb. 12 (UPI) -- The slumping U.S. economy is hitting NASCAR with car manufacturers and sponsors cutting back their auto racing budgets.

The circuit's 60th season gets underway Sunday with the Daytona 500. Two major names are gone with Petty Enterprises merged into Gillet Evernham Motorsports and Dale Earnhardt Inc., into Ganassi Racing, the Indianapolis Star reported.

GM, Ford and Chrysler have all cut their NASCAR budgets and Toyota is expected to follow suit. "There is probably not anything on this earth Toyota is involved with now that is not under some level of review," said Lee White, president of Toyota Racing Development. "If contracts have expired, it's very likely they have not been renewed -- or if they are being renewed, they are certainly being renegotiated."

NASCAR officials say that individual teams and tracks have to deal with the changing economic landscape.

"There's some things we can't help them with," said Mike Helton, president of NASCAR. "There's some things we give them the recipe to help themselves and it's up to them to see how the pie comes out of the oven."

© 2009 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
San Francisco Giants win third World Series title in five years San Francisco Giants win third World Series title in five years
2
Julius Randle breaks leg during NBA debut Julius Randle breaks leg during NBA debut
3
Former Detroit Red Wings Gordie Howe player has severe stroke Former Detroit Red Wings Gordie Howe player has severe stroke
4
Germany to launch bid for 2024 Olympics Germany to launch bid for 2024 Olympics
5
Emblem for 2018 FIFA World Cup in Sochi revealed Emblem for 2018 FIFA World Cup in Sochi revealed
Trending News
Around the Web
x
Feedback