Nationwide Insurance will no longer be sponsoring NASCAR’s second-largest series after its contract expires in 2014.
Sporting News reports that the company will continue to be the official insurance carrier of NASCAR through 2017 and will continue to sponsor NASCAR’s Betty Jane France Humanitarian Award. From 2015 onwards, Nationwide will shift its focus to spending more on Cup teams and tracks.
NASCAR will be looking for a new sponsor for the series which has existed since 1982 and it’s the top developmental series in the sport. Nationwide became the official sponsor of the series in 2008 when they signed a seven-year deal that would provide NASCAR with about $8 million annually, according to the SportsBusiness Daily.
NAPA Auto Parts recently made the announcement that it will end its sponsorship of Michael Waltrip Racing at the end of the year.