[bears9]

NEW YORK (AP) -- NASCAR was finalizing a deal Tuesday night with Nationwide Insurance to sponsor its No. 2 series beginning in 2008, The Associated Press has learned.
Nationwide will replace Anheuser-Busch, which has sponsored the second-tier Busch Series for 26 seasons but said earlier this year it would end its entitlement deal at the conclusion of this season.
The deal with Nationwide is estimated to be seven years at $10 million a year, according to a person familiar with the negotiations who requested anonymity because the deal had yet to be completed. A-B was paying roughly the same amount, and NASCAR initially had sought an increase in the price of the series.
But despite a flurry of early suitors, NASCAR was unable to secure sponsorship in a search that has stretched nearly 10 months. A deal with Subway appeared to be imminent in August, but never materialized.
That opened the door for Nationwide, which presented an offer late last week. Subway also re-entered the picture, but NASCAR instead moved ahead on Nationwide's offer.
Allstate is the official insurance company of NASCAR, but this new sponsorship deal will likely require Nationwide to take over that role.
NASCAR officials did not immediately return a call for comment.
In January, Nationwide signed a four-year extension with Speedway Motorsports Inc., owner of six NASCAR tracks. The deal called for the insurance company to build fan zone areas at several of SMI properties.
Now, as title sponsor of a series, Nationwide is expected to reach a similar deal with International Speedway Corp. ISC currently has a contract that lists AAA Insurance as the ``Official Auto Club'' of its 11 tracks.
ISC is the publicly traded sister company of NASCAR, and both are owned by the France family. It's not clear if Nationwide will be required to meet advertising requirements with ESPN, which is in the first year of an eight-year contract to exclusively broadcast the Busch Series. ESPN worked with NASCAR to find a new sponsor for the series, and it was believed that the advertising requirement held up talks with several companies

[Quality88]

Nationwide is on your side

[LSC9901]

Will they still be on your side when there is an accident ?

[Quality88]

Originally Posted by LSC9901

Will they still be on your side when there is an accident ?

They will cover all drivers accept Stewart, R. Gordon, McMurray, Both Busch Boys, and Montoya

[bears9]

Oh man guys that is good

[Bob Tanner]

$10 million a year and I bet NASCAR is breathing a sigh of relief.

Why?

Because, back on 12/21/06 the following was printed in a nascare.com article:
"Well for $40 million, roughly triple the amount of Anheuser-Busch's bill, you can put your name in front of "Series" and have it plastered all over ESPN on Saturdays while having your product placed on the hoods of Cup regulars in every Victory Lane from Watkins Glen to Fontana and Michigan to Texas."

No contract length was mentioned so I believe the $40 million figure was a perspective yearly figure. If that be the case then A-B's cost of being a Cup Lite Series sponsor was $13.3 million a year. IF that be the case then it looks as though Nationwide got NASCAR at a discounted price.

Now, whata ya wanta bet that, for their $10 million/yr Nationwide will expect a preponderance of Cup Raiders to be in every Cup Lite field practical?

But, I could be very, very wrong...

[wardfan]

Man, Nationwide was expensive when I had them for my insurance. I bet they are really going to be expensive now. I'm paying 1/2 as much with my new company than Nationwide.