Word: sport
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...support for the drivers and their crews. General Motors and Ford are among NASCAR's biggest television advertisers. Even Toyota, which controversially entered stock-car racing two years ago, expects a nearly $3.9 billion full-year loss, its first since 1950. An auto failure would be catastrophic for the sport. "The uncertainty of it all is what keeps you up at night," says NASCAR chairman and CEO Brian France. "You know, trying to figure out where the bottom...
Detroit's woes are a concern, Smith says, "but we've seen that before, years ago when all the manufacturers pulled out of the sport. We've been down that road before. We would rather have them with us, but if they're not, the sport continues...
...NASCAR position itself to motor through the downturn? The sport has to start with its costs, which exploded during NASCAR's stunning growth spurt earlier this decade. "The old adage was, If you need $1 million in expenses, go get $1 million in sponsorship," says Mike Dee, president of Fenway Sports Group, which owns 50% of the Roush Fenway Racing team. "The railroad doesn't run that...
...good portion of the cutbacks can be attributed to the sport's success. "A couple or three years ago, you had so many new teams coming in," says team owner Rick Hendrick, who fields cars for Jimmie Johnson, Jeff Gordon and Dale Earnhardt Jr. "You had Toyota coming in with new teams, and there were so many people planning on running multiple teams that the pool of people moving in and being trained just kept growing and growing and growing. It looked like there was no end in sight. All of a sudden, teams can't find sponsors, they shut...
...races at Lowe's Motor Speedway (LMS). According to LMS president Marcus Smith, the track not only dropped prices in some sections but also refunded the difference to fans who had already purchased, an effort, he says, to show loyalty to the customers who have helped build the sport. In Texas, prices for hot dogs, hamburgers and barbecue sandwiches have all dropped. "These are all staples, things people want," says Gossage. "We're not cutting the price of licorice whips...