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Room for more sponsors at Hall of Fame

NASCAR Hall of Fame Opens in Charlotte
When customers enter the $200 million NASCAR Hall of Fame for the first time this week, they'll find the sparkling showplace surprisingly free of sponsor clutter.

That's not by design. The three-story, 150,000-square-foot facility, which opens Tuesday in downtown Charlotte, has finalized four sponsorships with Lowe's, Mars (M&M's), Food Lion and the NASCAR Performance Group.

NASCAR will be showcasing many of its aftermarket partners, including 3M, Goodyear, Mobil 1, O'Reilly Auto Parts and others. Those companies will be on display when the Hall of Fame opens, and their deals range from $200,000 to $700,000 annually and go from three to five years in length.

NASCAR receives a 10 percent cut on sponsorship sales and between 7.5 percent and 10 percent on other revenue from admissions, retail sales and tours.

Five other sponsorship deals are in the works and are expected to close soon, although the identity of the new sponsors has not been disclosed by the Hall and those companies are not yet on display.

The nine deals in total represent $4 million in sponsorship revenue, which will be used to pay back $20 million in loans from its banking partners in Charlotte, Bank of America and Wells Fargo (formerly Wachovia), over the next 10 years. Interest will accrue over time. Overall construction costs are covered by an arrangement with the city that includes loans from the banks, hotel/motel taxes and private funds.

“It's never been our objective to have X amount sold by the time we opened or a certain date,” said Winston Kelley, the Hall of Fame's executive director. “We've never said that. This is definitely more of a marathon than a sprint.”

The facility's inventory, which includes Heritage Speedway, High Octane Theater, Glory Road, the Great Hall and the iRacing simulator, sure to be one of the most visited attractions within the facility, has been on the market for more than two years.

The recession has hampered sales efforts, said Zak Brown, CEO of Just Marketing International, the Indianapolis-based sales agent for the Hall.




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Hall of Fame opening inside
Aric Almirola, driver of the #43 United States Air Force Ford, walks through the garage area prior to the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Scott Halleran/NASCARA via Getty Images)
Kyle Busch, driver of the #18 Interstate Batteries Toyota, and Dale Earnhardt Jr., driver of the #88 National Guard Chevrolet, lead a group of cars during the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida.  (Photo Credit: Jared C. Tilton/NASCAR via Getty Images)
Jimmie Johnson, driver of the #48 Lowe`s Patriotic Chevrolet, climbs from his car after being involved in an on track incident during the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Jared C. Tilton/NASCAR via Getty Images)
Kyle Larson, driver of the #42 Target Chevrolet, is involved in an incident during the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Jerry Markland/NASCAR via Getty Images)
A large incident occurs in turn three during the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Daniel Shirey/NASCAR via Getty Images)
Aric Almirola, driver of the #43 United States Air Force Ford, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Coke Zero 400 after the race was called for weather at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Aric Almirola, driver of the #43 United States Air Force Ford, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Coke Zero 400 after the race was called for weather at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida. (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Aric Almirola, driver of the #43 United States Air Force Ford, celebrates in Victory Lane after winning the NASCAR Sprint Cup Series Coke Zero 400 after the race was called for weather at Daytona International Speedway on July 6, 2014 in Daytona Beach, Florida.  (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Kasey Kahne, driver of the #5 Hellmann`s Chevrolet, takes the chequered flag to win the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Scott Halleran/NASCAR via Getty Images)
Kasey Kahne, driver of the #5 Hellmann`s Chevrolet, takes the chequered flag to win the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Streeter Lecka/NASCAR via Getty Images)
Dakoda Armstrong, driver of the #43 Fresh from Florida Ford, and Trevor Bayne, driver of the #6 AdvoCare Ford, lead the field to start the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Streeter Lecka/NASCAR via Getty Images)
Kasey Kahne, driver of the #5 Hellmann`s Chevrolet, celebrates in Victory Lane with Jared Fogle of Subway after winning the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida.  (Photo Credit: Chris Graythen/NASCAR via Getty Images)
Brendan Gaughan, driver of the #62 South Point Chevrolet, spins out during the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Mike Ehrmann/NASCAR via Getty Images)
David Ragan, driver of the #98 Carroll Shelby Engine Ford, and Elliott Sadler, driver of the #11 SportClips Toyota, spin out during the NASCAR Nationwide Series Subway Firecracker 250 Powered by Coca-Cola at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Chris Graythen/NASCAR via Getty Images)
David Gilliland, driver of the #38 Love`s Travel Stops Ford, poses with Ms. Coors Light, Rachel Rupert, after winning the Coors Light Pole Award for the NASCAR Sprint Cup Series Coke Zero 400 at Daytona International Speedway on July 4, 2014 in Daytona Beach, Florida. (Photo Credit: Sean Gardner/NASCAR via Getty Images)
Jimmie Johnson, driver of the #48 Lowe’s Patriotic Chevrolet SS, qualified fifth Friday, July 4, 2014 for Saturday`s Nascar Sprint Cup race at Daytona International Speedway in Daytona Beach, Florida. Johnson is 2nd in the NASCAR Sprint Cup Series (NSCS) standings. (Photo by Rusty Jarrett/HHP for Chevy Racing)
Bobby Labonte, driver of the #33 Thunder Coal Chevrolet SS, qualified fourth Friday, July 4, 2014 for Saturday`s Nascar Sprint Cup race at Daytona International Speedway in Daytona Beach, Florida. (Photo by Rusty Jarrett/HHP for Chevy Racing)

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