Nextel out of NASCAR logo

The popular motorsports will be known as the NASCAR Sprint Cup Series next year, ESPN reports, quoting unnamed sources from the industry.

Sprint's marketing director at NASCAR Dean Kessel denied the claims and said the company, together with Nextel, is still sorting out a proposition with the race body. He added that many details must first be finalized before a decision can be made.

In December 2004, Sprint and Nextel agreed to a $36 billion merger. The then go-to-market brand name of the combined Sprint Nextel was Sprint, with the Nextel name continuing as a key product brand.

The reported shift in NASCAR Cup sponsorship would give the race series its third name. From 1972 to 2003, the Cup Series was sponsored by R.J. Reynolds tobacco through its Winston cigarette brand. Then, starting in 2004, Nextel assumed the naming rights to the most popular racing series in the United States.