Comcast's Xfinity negotiating sponsorship of Nationwide Series:
Comcast's Xfinity is in contract negotiations with NASCAR to become
title sponsor of the sport's secondary series. The company's broadband,
TV and phone division is considering a five- to six-year deal valued at
more than $100 million, according to a source familiar with the
negotiations. The potential agreement would see Xfinity pay
approximately $9 million in rights fees and $9 million in media and
activation in its first year as title sponsor. Its annual spend would
increase in subsequent years. Comcast declined to comment. In a
statement, NASCAR said, "We anticipate NASCAR will soon be aligned with
an outstanding brand that will help take this series to new heights, but
out of respect for our current partner and the process, we will not
comment on speculation about any potential replacements until there
actually is one." Though discussions have moved into the contract phase
and NASCAR executives have begun telling officials in the sport that a
sponsorship is done, the deal still faces some obstacles. Fox Sports and
Comcast-owned NBC Sports are slated to split television rights to the
series from 2015 to 2024. Sources said that Fox, which did not respond
to requests for comment, wants assurances that Comcast will spend
equally on advertising across both of the series' rights holders, Fox
and NBC, and not favor its own company, NBC. NASCAR and Comcast are
addressing other category issues as well. Provided those issues are
resolved, the deal should close and be announced in the coming weeks.(Sports Business Daily)(8-18-2014)
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