Sponsors fleeing NASCAR

UPDATE Looks like declining TV ratings for two years running is beginning to take its toll on NASCAR given some of the ridiculous asking prices for sponsorship deals we have heard.

Yet another sponsor is getting out of NASCAR. Starter, Nike's value brand whose goal was to make its brand synonymous with NASCAR, has decided not to pursue more deals in the sport, and will pull out of NASCAR altogether once their current deals with Joe Gibbs Racing expire, this according to Sports Business Daily.

08/20/07 Joe Gibbs Racing officials announced Monday that Rockwell Automation will not return next year as sponsor of the team’s No. 20 Busch Series team. Rockwell Automation had backed the team since 2003. A news release did not give a reason for the pullout. The company said it would not return to NASCAR, either.

[Editor's Note: A NASCAR sponsorship is far too expensive. With all the cars in the field, how much air time, and hence value, does their car get?]