SMI, Lowe's refute report over end of sponsorship

[August 01, 2009]  SPARTA, Ky. (AP) -- Officials from Speedway Motorsports Inc. and Lowe's insist they are still talking in the wake of a report that the home improvement chain is ending its sponsorship of SMI's flagship track.

The Sports Business Journal reported Friday that Lowe's will not renew its 11-year sponsorship of the 1.5-mile oval outside Charlotte, formerly known as Charlotte Motor Speedway.

SMI president and CEO Marcus Smith said both sides are still negotiating and that he remains confident a deal will be completed soon.

The track hosts several NASCAR events each year, including a pair of Sprint Cup races and the series' All-Star race.

Lowe's is also the primary sponsor of three-time defending Sprint Cup champion Jimmie Johnson. That deal expires at the end of the 2010 season.

[Associated Press]

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