UPS to sponsor NASCAR truck series

According to a source within UPS, the package delivery company is in serious negotiations with NASCAR to sponsor the truck series. Craftsman, the current sponsor of the series and the only sponsor the series has known since it’s formation in 1995, is bowing out after the 2008 season.

NASCAR had been in talks with Kobalt Tools, but talks allegedly broke down more than a month ago over the length of the commitment. Kobalt Tools is a division of Lowe’s, the primary sponsor of Jimmie Johnson’s #48 team. According to sources, Kobalt and NASCAR came to terms on the dollar amount, but could not come to terms on the length of the deal. NASCAR wanted a long-term contract, and Lowe’s was not willing to commit for more than three years.

Sources also said, UPS had talks with Stewart-Haas Racing about sponsoring the #4 car, which will be driven next year by Ryan Newman, but Stewart-Haas already had a deal inked with Burger King and UPS did not want to be part of a split sponsorship. UPS currently sponsors Michael Waltrip Racings #44 car driven by David Reutimann, but they have been looking to leave Waltrip since early spring.

NASCAR had been looking for a five-year commitment at an annual rate of at least $15 million dollars per year, and sources have confirmed that UPS has agreed to those terms. Some minor details are still being worked out, such as the possible repainting and re-branding of the UPS delivery trucks to reflect the new sponsorship, but an announcement could come soon as NASCAR and UPS would like to begin promoting their new relationship as soon as possible. Captain Thunder