What's In a Name: Lowe's Not Sponsoring Charlotte Track In 2010

After 11 years, the Lowe's Home Improvement company has announced that following October's running of the NASCAR Banking 500, it will no longer be the title sponsor of the Charlotte-based speedway.

Lowe's signed on to be the title sponsor of the speedway in 1999, a first in the NASCAR industry.

According to Marcus Smith, president and general manager of Lowe's Motor Speedway, the two sides are still discussing a possible extension.

"Both companies have benefited as strategic partners for 11 years and we are finishing a one-year extension," said Smith. "Currently, we're still working on and discussing the components of another extension to continue our relationship."

When Lowe's signed the agreement in February 1999, what was expected to follow was multiple speedways getting title sponsorship contracts. However, that idea did not fully develop. In the 11-year span, only two other speedways have signed on as title sponsors.

The Sonoma road course, formerly Sears Point Raceway, struck a 10-year, $34.6 million deal with Infineon Technologies in 2002. Last year, the former California Speedway, owned by International Speedway Corp, signed the Auto Club of Southern California to a 10-year contract worth $40 million.

The chance of both sides signing a new contract is still possible, however is considered unlikely.

One of the major factors that is going into these talks is the state of Lowe's title sponsorship of the No. 48 car, driven by three-time champion Jimmie Johnson. The contract Lowe's has with Hendrick Motorsports expires following the 2010 season, but discussions on a new contract are expected to begin later this year.

An agreement as a single primary sponsor will be extremely costly. Some sponsors can go for as much as $20 million. With that high of a price, many teams use multiple primary sponsors throughout the year.

Hendrick's other three cars use this co-primary, and sometimes "tri-mary," sponsorship. Dale Earnhardt Jr. splits time between Amp Energy and the National Guard, while Mark Martin runs both Kellogg's and Car Quest.

Jeff Gordon, the longest-running Hendrick driver, promotes both Pepsi and the National Guard with long-time sponsor, DuPont.

The original contract between Lowe's and the Charlotte-based track was a 10-year, $35 million agreement. Last year, the sides agreed to a one-year extension since no agreement on a long-term deal could be met.

If no agreement can be met with Lowe's or any other possible corporate sponsor, the track is likely to go back to it's former name, the Charlotte Motor Speedway.