Monday, November 27, 2006

B of A Becomes The Official NASCAR Bank; Will NASCAR Put The Pressure On Jacoby?

Bank Of America is the official NASCAR bank; NASCAR begins exclusive relationship with Sirius in January; Bank of America is negative on Sirius; Will NASCAR pressure Bank of America?

Bank of America becomes official Nascar bank
NEW YORK, Nov 27 (Reuters) -

Bank of America Corp. (BAC.N: Quote, Profile, Research) said on Monday it has entered a five-year agreement to become the official bank of Nascar, hoping to attract more customers by linking up with the popular stock-car racing series.
The agreement extends Bank of America's growing presence in sports marketing. The No. 2 U.S. bank is already the official bank of Major League Baseball, has had a marketing pact with the PGA tour, and sponsored the 2006 U.S. Winter Olympic team.
Terms of the Nascar agreement, which runs from 2007 to 2011, were not disclosed.
Bank of America will become Nascar's exclusive partner for banking and related financial services, including checking and savings accounts, credit and debit cards, mutual funds and brokerage. It will have the right to use the Nascar logo in marketing and advertising...read more: here