First, Sprint did not buy Nextel, the two companies are merging. The following is part of a recent joint announcment concerning this and NASCAR. The name Nextel is not going away as you see in the announcment Nextel will prominently promoted. I would be surprised if they change the race name from Nextel.
SPRINT AND NEXTEL COMMUNICATIONS ANNOUNCE NEW
BRANDING AND LOGO TO BE USED BY COMBINED COMPANY
Broad market appeal of Sprint brand to lead combined company’s go-to-market presence;
Nextel to be prominently promoted as a product-line
OVERLAND PARK, Kan., and RESTON, Va. ― June 23, 2005 ― Sprint (NYSE: FON) and Nextel Communications Inc. (NASDAQ: NXTL) today announced details surrounding the brand strategy and logo to be used upon completion of the companies’ merger, expected in the third quarter of 2005, pending shareholder and regulatory approvals. The new go-to-market brand name of the combined Sprint Nextel will be Sprint, with the Nextel name continuing as a key product brand
NASCAR NEXTEL Cup Series ™
The new company will be committed to its partnership with NASCAR and its more than 75 million fans. The NASCAR NEXTEL Cup Series ™ will maintain its current series branding through 2006, and decisions regarding the series name and branding beyond that season are expected to be made prior to the NASCAR NEXTEL Cup Series season opener in 2006.