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General Motors Cuts Sports Spending

GM Headquarters
AP
GM Headquarters

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.

Track Agreements

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

Oakland Raiders

USC Athletics

IMG Worldwide (official car)

On CNBC.com Right Now: The Fall of General Motors

Questions? Comments? SportsBiz@cnbc.com

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