Pbs NASCAR Sponsors Get $250 Million to Invest in NASCAR, Newsroom says

Axios | AUGUST 28, 2019 11:30:03In a move that has raised eyebrows among many NASCAR fans, Pbs sponsors have been invited to participate in a joint venture to invest in NASCAR.

The sponsorship would be paid for through a new NASCAR fund.

Pbs will invest $250 million in NASCAR’s future through the NASCAR Foundation, the newsroom reported Thursday.NASCAR’s Formula 1 team, Penske Racing, is the largest sponsor of NASCAR.

In 2018, the team received $50 million in sponsorship funds from Pbs.

The newsroom also reported on Thursday that a separate Pbs sponsorship of the 2018 NASCAR Chase for the Sprint Cup was also awarded.

The $250-million investment in NASCAR is a move Pbs has been making for years to invest its resources into the sport.

In 2016, Pb invested in NASCAR Racing, the sport’s top professional series, and the sponsorship included Pbs’ name in the deal.PBS was one of four sports organizations that partnered with Pabst Brewing Co. to open a brand-new brewery in North Carolina.

The company’s beer has won the Great American Beer Festival’s Gold Award for the best American craft beer.

In 2018, Psb also announced that it would purchase the Charlotte-based Charlotte Kings basketball team for $400 million.

Pb also partnered with the NBA’s Charlotte Hornets and the NHL’s Toronto Maple Leafs to bring an arena to the Charlotte area.

The Charlotte-Charlotte arena project was completed in 2021.