MOORESVILLE, N.C. (AP) — Lowe’s will not renew its naming rights of Lowe’s Motor Speedway when its contract expires after this season.
Lowe’s cited changing marketing strategies Thursday as the reason it won’t return in 2010. The home improvement chain signed as sponsor of then-Charlotte Motor Speedway in 1999 in the first major naming rights deal of a NASCAR track.
The Sports Business Journal reported last week that Lowe’s would not come back in 2010, but Speedway Motorsports Inc. president Marcus Smith insisted as late as Wednesday that the talks were continuing on a new deal.
Lowe’s will continue its primary sponsorship of three-time defending NASCAR champion Jimmie Johnson.
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