NASCAR sponsorship money expected to plunge

New sponsorship money for NASCAR race teams is down about 10 percent this year and may fall more in 2009 as the financial crisis takes a toll on the most-watched U.S. motorsports circuit, the head of the racing league said. Race teams have received about $86 million in new sponsorship money so far this year, compared with $96 million in 2007, said Andrew Giangola, a NASCAR spokesman. Some sponsorships for this year may still be announced. “That's lower than we've traditionally had as a rate of increase,'' Brian France, NASCAR’s chief executive officer, said on a conference call after announcing Camping World Inc. will be the title sponsor of its truck series beginning in 2009. For 2009, France said, new sponsorship money may be as low as $80 million. Bloomberg

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