Jonathan Gibson, vice president of marketing and communications with Penske, said:

It’s true that they’re evaluating their NASCAR investment right now and it’s true that they may increase their involvement with our IndyCar program.

Gibson wouldn’t comment on the rumor about Allgaier, but he did indicate that the team is looking for a sponsor for 2011 and would like to keep Allgaier next season.

Busch said:

This [Shell/Pennzoil] opportunity just came up a few weeks ago and it changed the whole landscape that we ended up with. I didn’t talk to any other teams. When I weighed my options personally, with my wife, Eva, and my manager, we looked at other teams, we tried to find scenarios that would fit for us, but none of them were as powerful as creating the longevity with Penske.

 Shell was only interested in signing with Penske if Busch drove the car. Busch added:

One of the prerequisites from Shell was that I would be driving the Shell/Pennzoil Dodge in 2011. That was really the only option that they gave us. So it didn’t fit for Brad [Keselowski]. It didn’t fit for Sam [Hornish Jr.]

As part of the deal with Shell, the company becomes the official motor oil of Penske, meaning that Mobil 1 will have to leave the team at the end of the season. While no new sponsor has been named for the No. 77, driven by Sam Hornish Jr, Penske has indicated that he is committed to Hornish, and having a third car.

Verizon, which currently sponsors the No. 12 driven by Keselowski, could move to the No. 77. But, because the team cannot put its logos on the car due to NASCAR’s exclusive agreement with Sprint, there has been speculation that Verizon might leave.

The team is said to be waiting to finalize sponsorship, as Verizon acquired Alltel earlier this year forcing the sponsor to leave the sport at the end of the season.

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.