RESTON, Va.-As part of its 10-year, $750 million sponsorship deal with NASCAR, Nextel Communications Inc. reported that the NASCAR Nextel Cup Series points fund will distribute more than $24 million among the racing series’ top 25 drivers at the end of the 2004 season. The payout guarantees each of the top 11 drivers at least $1 million.
“We are enjoying an outstanding inaugural season with our new title sponsor and the enhanced points find for the 2004 season is another example of Nextel’s ongoing commitment to the sport, its drivers and teams,” said Mike Helton, president of NASCAR. “It will represent a record points fund, and that provides quite a financial incentive for our competitors to pursue.”
The series paid out a then-record $23 million in prize money last year, which was the last season it was sponsored by R.J. Reynolds’ Winston brand.<
