06/16/14 NASCAR is "in advanced talks with Comcast Xfinity about becoming title sponsor of the sport’s secondary series," according to Tripp Mickle of SPORTSBUSINESS JOURNAL. Nationwide Insurance is in the final year of its title sponsorship, and NASCAR "has been looking for a replacement sponsor" since last fall.
Sources said that the parties "have not reached a contract phase but that Comcast has emerged as a leading candidate for the sponsorship." Mickle notes NASCAR is asking $12-15M "annually in rights fees for the title sponsorship of the series."
Media and activation commitments would “take the total costs of the deal to more than" $25M. NASCAR "hopes to finalize a deal by late this summer and announce a partnership in the third quarter of this year."
NASCAR in addition to Comcast has "met with a number of companies in the auto aftermarket category, including Advance Auto Parts and AutoZone." A deal to create the Xfinity Series would “further entwine Comcast and NASCAR," as the Philadelphia-based media conglomerate last year signed a 10-year, $4.4B deal for NBC and NBCSN to "broadcast half of the Sprint Cup and half of the Nationwide Series seasons." SportsBusiness Journal