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Tue, 06 Dec 2011 08:54 AM EST

Sprint revealed a three-year contract extension Friday night with NASCAR to remain the title sponsor of the elite Cup Series through at least 2016. Baseball lines

Sprint Ceo Dan Hesse recounted the extension late in NASCAR’s season-ending awards rite at Wynn Las Vegas Resort.

He feted the 10-race Chase for the Run Cup championship as the best ever since its 2004 establishment. Baseball betting lines

“Congratulations to all the drivers and groups who made a contribution to the excitement of this superb series,” Hesse claimed on stage. “Your keenness for the sport and commitment to excellence continue to wow us.”

Steve Gaffney, vice president of corporate selling for Sprint, declared after that Hesse’s fervour was evidence how valuable NASCAR is to the company and an indicator the company will want to continue the relationship beyond 2016.

Gaffney, who would not talk about the financials of the extension, said Sprint never thought about not continuing the NASCAR partnership.

“I’d say the Sprint Cup relationship for us isn’t just about branding, but it is also about the amount of fans who show us their loyalty by becoming customers,” Gaffney declared. “Not only do they become shoppers, but they are our most valuable customers. I’d say that overall, we see this as net position revenues to the company apropos new customers and valuable patrons.

“As we were looking thru the negotiation period and considering the relationship and the success we’ve had over the last eight years … It doubtless wasn’t a choice for us not to do it. It’s too important for us.”

The existing Ten year contract Sprint signed with NASCAR was set to expire at the end of the 2013 season, but talks on an extension had been going on for some time. Sprint officials indicated in the November. 20 season culmination that they were close to reporting a new deal.

NASCAR’s chief selling officer Steve Phelps declared closing the extension with Sprint would likely help teams in their backing searches. The rough economy has made finding funding tough, particularly for smaller teams, and the old business design of one company signing up for a full 38-race schedule is falling to the wayside.

Many groups are now cobbling together as many packages as they can and previous series champion Matt Kenseth, who came 4th in the Chase this season, has no sponsor set up for next season. Although automobile owner Jack Roush has asserted he’ll fund Kenseth’s automobile out of pocket, he last week commenced laying off employees in expectation of not fielding his so-far unsponsored No. Six Ford driven by David Ragan in 2012.

“For our entitlement partner and our largest sponsor in the sport to come back and essentially replenish early, for us, is huge,” Phelps claimed. “I think it provides us with a large amount of wind at our back and help those teams that are still attempting to find sponsorship.”

On behalf of Sprint, Hesse presented champion Tony Stewart with a check for $5.8 million.

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