General Motors Cuts Sports Spending
CNBC Sports Business Reporter
In order to emerge from bankruptcy protection, General Motors had the legal right to reject contracts that it had previously signed.
GM has now emerged from bankruptcy, but 54 sponsorship agreements it terminated as part of the bankruptcy were filed with the courts yesterday.
Here’s a glimpse at what the car company got rid of.
California Speedway Corp. (Fontana) -– 70 suite passes w/ pit row access, 35 VIP parking passes
Charlotte Motor Speedway –- 66 suite tickets, 16 pit passes, 10 parking passes
Daytona International Speedway –- 65 seats w/ 77 tickets, 11 parking passes
Dover International Speedway –- 50 seats w/65 suite passes, 30 VIP
Richmond International Speedway –- 60 person suite, 30 pit passes, 15 parking passes
Racing Team Sponsorship Agreements
Jeff Burton, personal service agreement (RCR)
Ryan Newman Motorsports
Grand Am Road Racing
National Hot Rod Association
National Muscle Car Association Event
Other Sponsorships Agreements
IMG Worldwide (official car)
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