Bank cuts back sponsorship at NASCAR tracks

Longtime NASCAR sponsor Bank of America Corp. has cut back on some of its track sponsorships. The Charlotte bank decided last year not to renew agreements with nine speedways around the country – including four venues owned by Concord-based Speedway Motorsports Inc. – after the contracts expired in late 2011.

The bank has severed ties with SMI's Las Vegas Motor Speedway, Texas Motor Speedway, Infineon Raceway near San Francisco and Atlanta Motor Speedway. It also ended all five of its International Speedway Corp. track sponsorships.

Bank of America continues to sponsor Charlotte Motor Speedway and the Bank of America 500 race, a title sponsorship it has held since 2006. Bank spokesman Nicole Nastacie said it agreed last year to a multiyear extension with SMI.

"Motorsports remains an important part of our sponsorship marketing program and has deep roots in Charlotte," she said. "That said, we continuously evaluate our sponsorship portfolio to ensure we have the right assets to achieve our business objectives.