Sprint sale not expected to affect NASCAR NASCAR does not anticipate the proposed sale of Sprint to impact the company's title sponsorship of the Cup Series.
Sprint announced on Monday morning that Japanese telecommunications company SoftBank would purchase a 70 percent stake in the company.
The deal is scheduled to be completed by mid-2013, according to a Sprint news release. Sprint will be a U.S. subsidiary of SoftBank, and its headquarters will remain in Overland Park, Kan.
NASCAR does not see its relationship with the company changing.
“As our premier series entitlement sponsor, Sprint has been successful using our sport as a platform to enhance its brand during its nine years in the sport,” said Steve Phelps, NASCAR chief marketing officer. “NASCAR fans have rewarded Sprint with their business and loyalty, and we don't expect that to change.”
Sprint chief executive officer Dan Hesse, who announced in December a three-year extension of the Sprint sponsorship through 2016, will remain as CEO of the subsidiary.
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