General Motors Gets Out of Final Four Suite Obligation

Last month, a General Motors executive told CNBC that the company would not be using the luxury suites at Ford Field that had been reserved for them for the Final Four.

Now, CNBC has learned that General Motors won't have to pay for them, either.

"They were taken back into the NCAA inventory for resale and we were relieved of our obligation," said Larry Peck, promotions manager for the Buick, Pontiac and GMC brands.

Peck said he was not sure whether or not the NCAA had resold the suites as of yet. A message left for an NCAA official was not immediately returned.

The car company, which has had a sponsorship deal with the NCAA since 1985, has scaled back on all of its hospitality in light of receiving billions of dollars in federal funding and asking for billions more.

Update: Greg Shaheen, senior vice president of basketball and business strategies, confirmed on Tuesday morning that the suites originally allocated to General Motors were added to the NCAA's inventory, which are sold to the public. "General Motors never paid for the suites, nor was there any exchange for us to have them as part of our overall inventory," Shaheen said.

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