Molson Coors Brewing Co., the third-largest U.S. brewer, said Coors Light will be the official beer sponsor of Nascar auto racing, replacing Anheuser-Busch Cos.’ Budweiser brand.
The agreement covers five years starting with the 2008 racing season, Molson Coors said today in a statement. The pole- position prize in Nascar’s top series, now called the Bud Pole Award, will be renamed for Coors Light. Mary Jane Credeur and Gene Laverty, Bloomberg.com
Molson Coors Brewing Co. has finalized a five-year deal to become the official beer sponsor of Nascar, supplanting bigger rival Anheuser-Busch Co.
The deal gives Coors Light exclusive rights to Nascar logos in advertising, packaging and promotions. Kevin Kingsbury, WSJ.com
The Golden, Colo., beer company said Coors Light will be the official beer of NASCAR, with exclusive rights to NASCAR logos in advertising, packaging and promotions, as well as the right to brand the pole award.
Financial terms of the agreement weren’t disclosed. CNN.com
Coors replaces Anheuser-Busch as the official sponsor. The new deal includes renaming the pole award to the Coors Light Pole Award from the Bud Pole Award.
For Coors, the NASCAR deal also replaces its sponsorship of the No. 40 Dodge in the Nextel Cup Series.
“Our deal was up with those guys, and this opportunity came up,” says Andy England, chief marketer for Coors. “It feels like we are elevating our game.” Theresa Howard, USA TODAY
| 
|