Atlanta Motor Speedway is suing Pep Boys over a payment dispute on a contract that called for the auto parts chain to pay $3 million for a two-year NASCAR Sprint Cup Series race sponsorship, according to court documents.
Pep Boys has allegedly stopped making payments for the 2009 race, according to the lawsuit filed April 30 in Georgia Superior Court in Henry County, Ga.
The suit says the deal was worth $1.4 million for the track’s 2008 fall race and $1.6 million for the 2009 fall race. According to the complaint, Pep Boys did not make the $800,000 payment due March 1, 2009, and the track is owed $1.6 million for the 2009 race.
Although the contract states that the sponsorship is for “a fall NSCS Event,” SMI says in its complaint that Pep Boys did not object to the 2009 race being moved to Labor Day weekend before it was announced. According to the complaint, Pep Boys sent a letter saying it could terminate the contract because the track breached the agreement since the 2009 fall race is now “during the summer.” - Full Story by Bob Pockrass – SceneDaily.com