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President Barrack Obama has ordered GM and Chrysler to quit as NASCAR sponsors if they want the bailout package being offered by White House. He has argued that by doing so, the comapnies will be saving more than $250m in spending.
NASCAR fans are certainly not happy with the move as the suto-makers are one of the biggest sponsors of the stock car sanctioning body. NASCAR is already seeing massive cut-downs by the teams on the spending. Exit of these high-flying sponsors will certainly make things worse for them.
“In order to receive this money, corporations must demonstrate they will spend it wisely. Racing has been said to improve on-road technology, but frankly, NASCAR almost flaunts its standing among the lowest-tech forms of motorsport. NASCAR is not proven to drive advancements that transfer from the racetrack to the road, and this nation’s way forward does not hinge on decades-old technology. We need new, and we need innovation.”
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