Coors Light will replace Budweiser as the official beer sponsor of NASCAR in a five-year deal that begins with the start of the 2008 season.
Industry experts said the deal is worth $20 million to $25 million.The contract does not include pouring rights at tracks, which are negotiated separately. Neither does it immediately change the name of the season-opening Budweiser Shootout at Daytona International Speedway, because that track's deal with Anheuser-Busch runs through July 2008.
Budweiser has had official beer status since 1999. It has been the title sponsor of the Busch Series since 1984, but announced this year it would not renew that deal beyond 2007.
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