Tom Lamb, Lowe’s chief marketing officer, said:

It has been a great ride with Jimmie since he started in the Cup Series 12 years ago. We are proud to sponsor one of the most elite teams and drivers in racing and have a five-time champion carry the Lowe’s brand each week.

Johnson said:

Lowe’s believed in me before I had any success. They are all I’ve ever known in my Sprint Cup career, and their support of me and the No. 48 team is second to none in the sport. We’ve been together for this crazy ride, and I’m so happy we’re continuing it together. They truly are family, and I’m proud to represent them.

Rick Hendrick added:

We caught lightning in a bottle with this combination. Jimmie and Chad have been successful because they always have a plan and do a great job executing. Lowe’s is the same way as a sponsor. The partnership has been incredible, and we’re looking forward to working together for many more years.

Lowe’s CEO Robert Niblock said:

Jimmie Johnson and Hendrick Motorsports are a key part of our marketing efforts and outreach to our more than 225,000 employees. We believe this is the best combination in racing, and we’re proud to have Jimmie carry the Lowe’s name in NASCAR.

Meanwhile, Johnson signed a five-year extension to remain as the driver of the No. 48 through 2015. Johnson was signed through the 2010 season, but with Johnson knocking on his fourth championship, getting Johnson locked up must have been a priority of Rick Hendrick.

Johnson said:

Lowe’s commitment to the 48 team and Hendrick Motorsports is tremendous and has been a source of pride for me personally. We’ve built a championship team together, and I’m proud the 48 will carry the Lowe’s colors for many more years.

Hendrick added:

Lowe’s took a chance on us back in 2001, and it’s not a stretch to say this whole thing would never have been possible without them. When you have a partner put that much faith in you, it’s incredibly rewarding to see them be successful. They’re a company with values and practices that we admire and learn from in our own business, and we feel very fortunate to continue this amazing ride together. Jimmie is charting new territory in our sport, and that’s due to a combination of natural talent and unsurpassed work ethic. How he’s committed himself is just incredible, and it shows in everything that he does — not just on the racetrack. There’s no question that he’s one of the great champions in all of sports, and he’s not done yet.

I blogged about this yesterday.

He wrote:

[T]he one entity that DEI ultimately couldn’t afford to part with, the one missing ingredient that eventually sidelined the No. 8 car, wasn’t a driver at all. DEI could survive without Dale Jr. But losing a big-money sponsor like Budweiser turned out to be a punch to the solar plexus that left the organization gasping for air.

With all due respect, the loss of Dale Jr is the reason Budweiser left. Budweiser was happy to stick with Dale Earnhardt Jr even as he moved to Hendrick Motorsports. But, Hendrick had a contract that prevented Budweiser from sticking with NASCAR’s most popular driver.  Had Jr stayed, Budweiser would have stayed, as well.

Caraviello contends:

Drivers, even immensely popular ones, are all replaceable; there’s always someone else ready and willing to fill in behind the wheel. Not so with sponsors, whose marketing dollars are the very lifeblood of the sport. When they go away, teams suffer and fall.

While that’s true, sponsors seek out drivers that they can market and that can offer a good return. Budweiser did not leave the sport. They’re sponsoring Kasey Kahne, and would most likely have still been sponsoring Jr and DEI.

Caraviello continues:

Jeff Gordon and Jimmie Johnson could both leave Hendrick Motorsports tomorrow, and the eight-time championship organization will still be as rock-solid — although maybe not quite as successful — as ever. Yet if DuPont and Lowe’s pick up stakes, the situation becomes much more tenuous.

The problem is that with Johnson and Gordon gone, Lowes and DuPont would most likely leave the team.

Looking at things the way Caraviello does makes little sense to me. If an event (A) occurs causing B, which then causes C, then one could argue that had A not happened, C would not have happened because B (which caused C) would not have had a chance to happen.

So, if Dale Jr doesn’t leave DEI, then Budweiser doesn’t, which means that the No. 8 would not have been shuttered.

DEI may have had to contract to a two-car team, but DEI would still exist under that banner. Instead, the team has merged and lost its staple, the No. 8, and now goes by Earnhardt Ganassi Racing. 

I’m not saying that Jr would have saved DEI, and I do agree with Caraviello on that point. But, DEI would have been in much better financial shape if Jr stayed, thus keeping Budweiser and their money there, as well.

Kobalt Tools, a Lowe’s brand, is said to be the leading candidate to sponsor the truck series. Craftsman, a Sears brand, will not renew its sponsorship of the series.

Stanley Tools and NAPA have been rumored to be potential sponsors as well.

Should Kobalt reach and agreement to sponsor the series, it would replace Craftsman as the official tool of NASCAR. Lowe’s could also become the official home improvement store of NASCAR, replacing Home Depot.

Anheuser Acquired By InBev

Anheuser-Busch has agreed acquired by InBev for $52 billion. Under the deal, which will create the world’s largest brewer, Anheuser will receive two seats on the board of the new company. The takeover also contains a provision that requires either side of the agreement to pay a “breakup” fee of $1.25 billion if it was responsible for the breakup.

The deal shouldn’t affect the company’s NASCAR sponsorship. Budweiser has signed a multiyear agreement to remain as sponsor of the Budweiser Shootout.

Budweiser will also become primary sponsor on Kasey Kahne’s World of Outlaws team.

GM Woes Trickle Down To NASCAR

Chevrolet will not renew sponsorship agreements with two tracks that host Sprint Cup races next season. The company is also evaluating all levels of its motorsports operations.

New Hampshire Motor Speedway and Bristol Motor Speedway are the two tracks. GM has contracts with 12 of the 22 tracks where the Cup series races and is the title sponsor for the fall race at Richmond International Raceway. GM also is the official vehicle provider for Daytona International Speedway.

SK Telecom In Talks To Acquire Sprint

SK Telecom would solicit the help of private equity firms, which would provide the cash for the deal.

Sprint has been contemplating a sale as it struggles with subscriber losses and remaining competitve with Verizon, which recently acquire Alltel. Should Sprint decide against a sale, SK will not pursue on, sources say.