RubbingsRacing.com GM to Reduce Sponsorship in 2009 of NASCAR |

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GM to Reduce Sponsorship in 2009 of NASCAR

Posted by Chris on July 18th, 2008 No Comments Printer-Friendly

Image details: GM CEO Annnounces Further Restructuring Plans served by picapp.com

It was announced that both New Hampshire and Bristol Motor Speedways will not be sponsored by General Motors (GM). Speedway Motorsports Inc. (SMI) who owns these two tracks were notified of this matter when GM CEO Rick Waogner announced that with the declining economy, especially in the automotive business, that they are in the process of a cost-cutting venture to hopefully recognize $15 billion in savings by 2009.

Waogner did not give too many specifics, but did emphasize that this in no way is suggesting that they are removing themselves from NASCAR. Once more details are in place, we’ll let you all know. NASCAR.com has a bit more information on the matter here.