Verizon opted to let its final eight-year sponsorship contract, worth around $1 million per year, expire on December 31.
Verizon was the team's primary sponsor for many years, but that is a role now assumed by Norton/Saint-Gobain, which has a deal that will run through until at least the conclusion of the 2014 Sochi Winter Olympics.
“In the world of sports sponsorship, a company’s marketing direction is influenced by its changing business goals,” stated USA Luge CEO Ron Rossi. “What made sense yesterday may no longer fit into its plans for tomorrow.”
He added: “While sponsorships of all types come and go, only a very few will ever span a period of this length.”
