LVMS looking for Cup sponsor

Wednesday, May 24, 2000 | 10:50 a.m.

Las Vegas Motor Speedway officials are looking for a title sponsor for their annual NASCAR Winston Cup race after CarsDirect.com and the speedway agreed not to renew their title sponsorship agreement.

CarsDirect.com, a California-based Internet automobile dealer, had paid a reported $1.9 million to sponsor the Winston Cup race earlier this year.

"The CarsDirect.com 400 was a great success for both the Speedway and CarsDirect.com," LVMS general manager Chris Powell said Tuesday. "We have enjoyed our relationship with CarsDirect.com and we believe it feels the same way about LVMS.

"But the landscape of motor sports is changing and we have to do what is best for Las Vegas Motor Speedway. ... Our focus is on bringing in a new, long-term partner for the 2001 season -- and beyond -- that will help make future NASCAR Winston Cup events the best ever at our Speedway."

It is believed that with NASCAR's new television contract, which takes effect next season, the fee that sponsors will have to pay to have the networks (Fox and NBC) use the sponsor's name during its broadcasts has skyrocketed.

In addition to paying a speedway for the naming rights to a race, sponsors also have to pay a fee to the television network broadcasting the race to call it, in this case, the "CarsDirect.com 400" rather than the generic "Las Vegas 400."

Under existing television contracts, such a TV entitlement fee generally runs less than a million dollars -- but industry sources have said Fox was asking $2.5 million for the Las Vegas race. Those same sources claim that NBC is asking up to $4 million for some of its races.

Fox will televise the Las Vegas Winston Cup race beginning next year. Although NASCAR has not officially announced a date, LVMS officials have said they expect it to be held on the first weekend of March.

Representatives for CarsDirect.com did not return phone calls seeking comment on Tuesday's announcement.