US companies will spend an estimated $3.2B

US companies will spend an estimated $3.2 billion to sponsor motorsports teams, events, tracks and sanctioning bodies in 2007, up 11 per cent from the $2.9 billion spend in 2006, according to IEG Sponsorship Report.

NASCAR is top of the pile in terms of sponsorship spend with its new sponsorship strategy, concentrating on fewer, bigger corporate partners bringing in big, long-term deals.

Sponsorship interest in open wheel racing continues to be held back by concerns over the health of the sport although the Champ Car World Series this year signed a new partnership with software company iRise, the circuit has lost both Ford and Bridgestone as its presenting sponsors.