NASCAR Cuts Purses

NASCAR officials announced on Friday that race purses for its top three national divisions will be cut by ten percent this season.

The reduction will apply to Sprint Cup Series, Nationwide Series and Camping World Truck Series and was the result of much communication between the sanctioning body and the tracks.

The move is in response to the economic pressures facing the sport's track operators who have been forced to lower ticket prices and implement other cost-cutting measures to deal with the current financial environment.

"Last year we launched an industry-wide effort to help the sport manage budgets in this economy," NASCAR spokesman Ramsey Poston said. "NASCAR did the right thing to work with the tracks to reduce their costs in order to manage the economic realities. In return, the tracks have done a great job reducing ticket prices and enhancing the fan experience. Likewise, we worked with the teams to contain costs, such as elimination of testing and other steps. This is consistent with how virtually every sport and business has adjusted to the economy over the past year."

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