Lowe's Companies, Inc. Extends Naming Rights Contract with Lowe's Motor Speedway CONCORD, N.C. (Nov. 4, 2008) - Lowe's Companies, Inc. will continue as title sponsor of Lowe's Motor Speedway in 2009, executives from both companies ...
Lowe's Companies, Inc. Extends Naming Rights Contract with Lowe's Motor Speedway
CONCORD, N.C. (Nov. 4, 2008) - Lowe's Companies, Inc. will continue as title sponsor of Lowe's Motor Speedway in 2009, executives from both companies announced today.
The home improvement retailer, based in Mooresville, N.C., obtained naming rights for the legendary track, formerly known as Charlotte Motor Speedway, in 1999. Lowe's will retain naming rights at the superspeedway as well as marketing exclusivity in the home improvement category through a one-year contract extension.
"This is great news for Lowe's Companies and Lowe's Motor Speedway," said Marcus Smith, president and general manager of Lowe's Motor Speedway. "Both companies have found a mutually beneficial way to continue what's been a very successful partnership and position ourselves to strengthen the relationship for the future.
"While this is a win-win for both companies, the biggest winners will be our race fans. Next year will be a celebration of 50 fabulous years of racing at Lowe's Motor Speedway, and with Lowe's continued support, we will do extraordinary things to entertain our fans at the only speedway in the world to host three NASCAR Sprint Cup weekends."
"Lowe's customers and employees throughout the U.S. recognize our commitment to motorsports every time they see Lowe's Motor Speedway mentioned on TV," said Tom Lamb, Lowe's vice president of marketing. "Since our sponsorship began in 1999 the visibility the company has gained at premier racing events during our national expansion has helped Lowe's become the store of choice for millions of racing fans."
With fiscal year 2007 sales of $48.3 billion, Lowe's Companies, Inc. is a FORTUNER 50 company that serves approximately 14 million customers a week at more than 1,600 home improvement stores in the United States and Canada. Founded in 1946 and based in Mooresville, N.C., Lowe's is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.
Tickets for all May 2009 NASCAR events at Lowe's Motor Speedway, including the 25th running of the NASCAR Sprint All-Star Race on May 16 and the 50th running of the Coca-Cola 600 on May 24, can be purchased by calling the speedway ticket office at 1-800-455-FANS or online at www.lowesmotorspeedway.com.