By Rick Horrow and Karla Swatek
November 18, 2013
Mortgage lender Quicken Loans has signed on to be the new title sponsor of the November NASCAR Sprint Cup Series race at Phoenix International Raceway beginning next year. The deal was announced on the heels of a successful race weekend at PIR, during which the track drew an estimated crowd of 75,000 fans for the AdvoCare 500. Though financial terms weren’t disclosed, NASCAR race title sponsorships typically sell for $1 million annually. Quicken also is the title sponsor of the June Sprint Cup race at Michigan International Speedway. Both the Phoenix and Michigan racetracks are owned and operated by the publicly traded International Speedway Corp.
Coinciding with the sponsorship going into effect next year, PIR recently unveiled plans to celebrate its 50th anniversary in 2014 with a series of special events. The 50th anniversary theme will be seen in philanthropic and community-outreach initiatives, as well as a long-term $100 million renovation.