"As a series sponsor, we loved them," CART president Chris Pook said. "But the fact of the matter is in these sort of series, you have to have a series sponsor who activates to the retail market. That was not FedEx's game plan. That was never their game plan."
Earlier this year, FedEx committed to a 20-year, $90 million naming-rights deal for the new FedEx Forum in Memphis, home to the National Basketball Association's Memphis Grizzlies. In 1999, it signed a then-unprecedented 27-year, $205 million deal with the National Football League's Washington Redskins to name their football stadium FedEx Field.