Under the five-year deal, reported to be worth between $15 million and $20 million, Bank of America becomes the official bank of Nascar.
Bank of America will be NASCAR's exclusive sponsor for banking and related financial services, including checking and savings accounts, credit and debit cards, mutual funds and securities brokerage services. The company gets the right to use the NASCAR logo and name in marketing and advertising promotions through 2011.
The deal marks a change in how NASCAR lines up sponsors, reducing its sponsor base by consolidating deals and seeking opportunities to cover entire industries in one deal.
Bank of America already has an "official bank" deal in place with baseball.
