Comcast said it signed a 10 year agreement to become the title sponsor of what is currently the NASCAR Nationwide race series.
Beginning Jan.1, 2015, the races will be part of the NASCAR Xfinity Series. Xfinity also becomes NASCAR's official multichannel video program distributor and its official broadband Internet service provider.
Comcast's NBC Sports unit will begin broadcasting NASCAR race events in July 2015.
Financial terms of the deal were not disclosed.
"Technology lives at the heart of NASCAR, just as it does for Xfinity," Dave Watson, executive VP and chief operating officer for Comcast Cable, said in a statement. "NASCAR provides an exciting environment in which to showcase our video and Internet products and we look forward to further enhancing the fan experience at home, at the track and on the go for years to come."
Xfinity becomes only the third title sponsor in the racing series' history, following Anheuser-Busch, which lasted 26 years, and Nationwide Insurance, which was in the driver seat for the past seven years. Nationwide becomes a NASCAR team sponsor next season and remains the official auto, home life and business insurance partner of NASCAR. Sprint remains sponsor of NASCAR's top circuit.
"We're proud to welcome Xfinity to the NASCAR community as title sponsor of the NASCAR XFINITY Series for the next decade," Brian France, NASCAR chairman & CEO, said. "NASCAR and Xfinity are each leader brands with much in common. Both are focused on innovation and have products built for speed. Together, we will work to take this series to new heights and elevate one of the most unique and powerful partnerships in all of sports."
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