Major change in sports sponsorship dollars


GM walks away from naming rights, Tiger Woods, Superbowl, Academy Awards.

A federal judge Monday let General Motors Co. shed dozens of sponsorship deals and pricey perks that included VIP suites at international speedways, naming rights for a Lansing baseball stadium and Times Square billboards. The move frees GM from spending millions on marketing, sponsorship and promotion-related agreements that did not directly relate to the automaker's core operations. In all, GM shed 54 contracts, but it was unclear how much money the automaker -- once the nation's largest advertiser -- will save.

GM dumps sponsorships >>