NASCAR title sponsor Sprint replaces CEO, doubts arise regarding future involvement in sport
Sprint has announced a new CEO, which could affect their future with NASCAR racing.
After a failed attempt to merge with T-Mobile, Sprint has replaced CEO Dan Hesse with Marcelo Claure, which could potentially affect their relationship with NASCAR beyond 2016, when their current contract expires.
Obiously, when a new person comes to power in a company, things are bound to change. The affect this will have on their sponsorhip in NASCAR is TBD. We saw IZOD pull out of IndyCar after a major management change last year.
What may keep them interested is the fact that rival Verizon has recently taken over as the title sponsor of IndyCar. They should hope to keep a foothold in motorsports, not wanting to let their rival have a monopoly on one market. It's the same concept when you see a Home Depot being built across the street from a Lowe's.
According to The Wall Street Journal, Sprint has been losing money since 2007, however, they also added half a million new customers in the fourth quarter of 2013.
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