JUNE 17, 2003
Nextel to sponsor NASCAR
It is expected that the Virginia-based wireless communications company Nextel will become the new title sponsor of NASCAR's top series, currently called the Winston Cup. NASCAR has been looking for a new title sponsor since RJ Reynolds said in February that it wanted to withdraw from its sponsorship if a replacement could be found.
NASCAR's top series has been known as Winston Cup since 1971 but is withdrawing in the face of increasing pressure on tobacco companies. It is expected that Nextel will pay at least $60m a year.
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