Darren Rovell (of Sports Biz with Darren Rovell on CBNC) is reporting that Sprint is apparently quite pleased with its endorsement of NASCAR as the telecommunications company has extended its deal as primary sponsor through 2016. That will give it at least a 12-year run that it began as Nextel back in 2004.
Steve Gaffney of Sprint says that it’s a relationship that works well for both sides and that negotiations have been going on for some time to extend the deal.
“I’d say the Sprint Cup relationship for us is not only about branding, but it’s also about the number of fans who show us their loyalty by becoming customers,” Gaffney said. "Not only do they become customers, but they are our most valuable customers. I’d say that overall, we see this as bottom line revenues to the company in terms of new customers and valuable customers.
“As we were looking through the negotiation period and considering the relationship and the success we’ve had over the last eight years … it probably wasn’t an option for us not to do it. It’s too important for us.”