Coors Light will not return as sponsor on No. 40 car

CONCORD, N.C. -- Chip Ganassi Racing with Felix Sabates and Coors Brewing Company announced Wednesday that Coors Light will not return as a primary sponsor on the team's No. 40 Dodge in 2008.

"After much evaluation on both of our parts, we agreed that having Coors Light back as a sponsor on the No. 40 Dodge was not going to meet the marketing objectives of either organization," said Steve Lauletta, president of Chip Ganassi Racing. "Coors has been a tremendous partner over the last 14 years and we wish them nothing but the best.

"We continue to weigh our sponsorship opportunities for the No. 40 and an announcement on that will be forthcoming. CGRFS has always prided itself on not only our long-term partnerships but also on our ability to attract new sponsors to the sport -- just as we did earlier this year with Wrigley and Memorex."

"We believe that NASCAR is a valuable property that allows us to reach our target audience," said Bryce McTavish, vice president of sponsorship and channel marketing for Coors Brewing Company. "From a marketing perspective, one of the sport's greatest assets is the variety of ways in which companies can be involved and we are evaluating a number of them. We enjoyed a long and successful relationship with Chip and Felix and would like to thank them for their efforts on our behalf throughout the years. We will always appreciate their contribution to our business and our success."

The announcement will end a string of 14 years that Coors Light has been the primary sponsor or partial primary of the No. 40 car (seven with CGRFS). The relationship began in 1994 when Sabates' Team SABCO and the Coors Brewing Company started their first partnership as Coors Light became the primary sponsor of the No. 40 with Bobby Hamilton behind the wheel.