Hyundai close to replacing GM as NFL sponsor

Hyundai Motor Co. is close to an agreement on a sponsorship contract with the National Football League, two people with knowledge of the matter told Bloomberg.

Hyundai would replace General Motors, which ended its association with the most-watched U.S. sports league this past season after holding rights since 2001.

The people requested anonymity because they haven’t been authorized to discuss.

NFL spokeswoman Joanna Hunter declined to comment. Chris Hosford, a spokesman for the U.S. unit of Hyundai, said the company regularly talks to sports organizations. “But I can’t confirm anything at this time," he said.

GM, which featured its GMC brand through its NFL association, was paying more than $25 million annually, excluding advertising time buys, according to one of the people.