Sprint CEO Dan Hesse announced Friday night his company has agreed to a contract extension to continue to sponsor NASCAR's Cup series through "at least" the 2016 season.
Hesser made the announcement official during his speech at the Sprint Cup Series awards banquet Friday night at the Wynn Las Vegas.
The current 10-year deal with NASCAR expires at the end of the 2013 season but talks on an extension have been ongoing throughout the year.
The Kansas City-based wireless phone company, then known as Nextel, signed a 10-year, $750 million agreement in 2004 to rename NASCAR’s top series. Those rights include naming the season series and championship, as well as the annual all-star race.
As part of the sponsorship, Sprint has spent millions more creating a fan experience display that goes to all of the races. In addition, a number of NASCAR-themed features are standard for Sprint’s wireless subscribers.
The deal began in 2004 with Nextel, which was eventually acquired by Sprint. The series was re-branded the Sprint Cup Series in 2008.