Race is on for sponsors

After years of trying to go as fast as possible, some NASCAR teams and drivers just hope to stay on the track this season. With the economy in meltdown and companies announcing layoffs and financial losses almost every day, NASCAR sponsorships are on their shakiest ground in years. With teams in Florida for the start of the NASCAR season, including tonight's Bud Shootout, some corporate sponsors have scaled back or shut down their motorsports programs. "Deals are getting done, just not as many," said William Chipps, senior editor with Chicago-based IEG Sponsorship Report. "There's definitely pullback." Most sponsors are staying put, a NASCAR spokesman said, but many are spending less, meaning fans will see fewer signs and fewer hospitality events at races this season. "They're trying to be smarter, leaner, meaner, and trying to spend less," said Andrew Giangola, NASCAR's director of business communications. Automakers especially are hurting. General Motors has slashed NASCAR spending, letting contracts at multiple speedways expire. Last year's UAW-Dodge 400 race in Las Vegas is now the Shelby 427 after DaimlerChrysler didn't renew its sponsorship. Charlotte Observer