GM to take axe to top NASCAR series

General Motors will reduce its financial support in the Sprint Cup series, officials from several Chevrolet teams confirmed on Wednesday. Hendrick Motorsports, Stewart-Haas Racing, Earnhardt Ganassi Racing and Richard Childress Racing officials said they have been asked to participate in cutbacks by the U.S. auto manufacturer that recently filed for Chapter 11 bankruptcy. Officials did not say how large the cuts would be. "We had very productive conversations this week with the folks at General Motors, and it's clear they are committed to racing and committed to our organization," said Rick Hendrick, owner of Hendrick Motorsports in a statement. "They've asked us for some help, and we're going to give it to them. We're proud to be a Chevy team, and we will do our part to support the new GM both on and off the racetrack."

Tony Stewart, the co-owner of Stewart-Haas Racing and Sprint Cup point leader, echoed Hendrick's sentiments. "We have been, and will continue to be, strong supporters of GM and its Chevrolet brand," he said. "These are tough times for our auto industry, and in light of what's happening to them and how it affects all the people who make a living building and selling cars and trucks, the sacrifices we'll have to make as a race team are pretty weak in comparison. We believe in the products GM has now and in the products they're building for the future. We're proud to carry the Chevy bowtie on the hoods of our racecars, and we support GM in this time of uncertainty because we know they'll be an even stronger company in the years to come." Stewart said the cutbacks will force teams to review their budgets, but "it will not impact our preparation for the track or the return on investment we provide for our partners." The cutbacks come a week after GM cut all support from its Nationwide Series and Truck Series teams. ESPN