• Lucas Oil Raceway namesake to renegotiate naming rights after the loss of NASCAR races

    July 08, 2011 No comments

    Lucas Oil founder Forrest Lucas said Thursday that he expects to renegotiate his naming rights deal with Lucas Oil Raceway outside of Brownsburg.

    That follows Wednesday’s announcement that NASCAR’s Nationwide Series and Camping World Truck Series will not return to the track in 2012, with the Nationwide race moving to Indianapolis Motor Speedway.

    Lucas said a clause in the company’s contract with the raceway allows Lucas Oil to renegotiate its sponsorship arrangement should NASCAR pull out.

    The raceway is owned by the NHRA, a racing series of which Lucas is a major supporter. His company has several race and team sponsorships, and his son, Morgan, is owner/driver of a Top Fuel team.

    Lucas would not reveal details of the deal with the track, but it’s a fraction of the $121.5 million, 20-year contract for Lucas Oil Stadium, home of the Indianapolis Colts.

    Lucas said he does not expect Lucas Oil to remove its sponsorship entirely from the track, which hosts the NHRA Mac Tools U.S. Nationals annually on Labor Day weekend. The loss of NASCAR changes the relationship between Lucas Oil and the raceway, however.

    Lucas said, “We’re going to lose a lot of value at the track for us, but I also think this is a big loss for Indianapolis. I think it was one of the best races in the country, but it’s not going to be the same at Indianapolis Motor Speedway.”

    Lucas said the truck series race traditionally lost money because of the high sanctioning fee the track was required to pay to NASCAR, but the Nationwide race made up for it. He would not rule out the possibility of NASCAR returning to the 0.686-mile oval.

    The Nationwide Series has raced at the former Indianapolis Raceway Park since 1982, and the truck series has raced there since its first season in 1995. This year’s AAA Insurance 200 truck race is July 29 and the Kroger 200 Nationwide race is July 30. Sprint Cup’s Brickyard 400 in July 31 at the Speedway.



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