GM gets reduced rate for Daytona 500 sponsorship

General Motors has renewed its sponsorship of Daytona Int'l Speedway and the NASCAR Sprint Cup Daytona 500, "but at a cheaper price," opting to sponsor the event "on a year-to-year basis" rather than signing a multi-year deal. Financial terms were not disclosed, but Chevrolet spokesperson Terry Rhadigan said, "Let's just say it’s a fraction of what it had been in previous years, dollar-wise." GM has sponsored the race for more than 40 years. “We’re very pleased to have them back as a partner," Daytona spokesman Andrew Booth said. “We’ve had a great relationship with them, and they’ve been a great partner to us." DETROIT NEWS