First Trucks, Ford also axes Nationwide Series

Ford Motor Co. announced today that it has completed a multiyear agreement to continue its partnership with Roush Fenway Racing, but officials say the company has had to decrease its overall NASCAR marketing budget because of current economic conditions.

“It was something we obviously had a small amount of anxiety over with the challenge that the car companies are having and the broader economy," said team co-owner Jack Roush, who indicated the agreement was a three-year deal with additional options.

“To look at the affiliation that we’ve had with NASCAR and the partnership we’ve had with Ford for really the better part of 40 years in racing – longer than that in business – there was some anxiety on my part to see if the challenge would be met."

Ford also announced the company will continue its support of Yates Racing and Wood Brothers Racing in the Cup series in 2009 and continue to support its Nationwide and Craftsman Truck series teams with contingency programs and engineering assistance.

But it will discontinue giving money to teams running Fords in the Nationwide and Truck series.

“Our prime goal was really to protect our performance in Cup racing, and with that, we have cut back our support for the supporting series," said Brian Wolfe, director of Ford Racing Technology. “We have not pulled out of those series."

Wolf said the total Ford Racing budget is less than last year as part of a decrease in marketing funds overall for the company.

“The total support next year is reduced from what it was this year," Wolfe said. “Some of it has been deflected to Cup and some of it is part of our overall reductions to meet our budgets.