NASCAR takes on the Big Apple for the annual awards banquet, more

Jimmie Johnson will be honored at the annual NASCAR Sprint Cup Awards Banquet this week in New York. Fred Vuich/SI

This is the week when drivers, mechanics, marketing executives and even the traveling slobs known as the "motorsports media" put on fancy clothes and tuxedos for the NASCAR Sprint Cup Awards Banquet.

But with an economy teetering on further decline, and many of NASCAR's most loyal fans out of work, including some who have lost their houses to foreclosure, NASCAR should consider toning down this year's affairs.

In the past, the NASCAR banquet was a chance for the sport to fly its corporate muscles and show off its economic might. With so many of the top consumer brands and Fortune 500 companies involved in the sport, either as "official" sponsors or as car and team sponsors, NASCAR could show off its billion dollar industry. The amount of money spent on the affair was staggering.

Fans watching at home could see a certain glamour attached to their heroes, who sat at the head table. Moreover, checks with jaw-dropping numbers were awarded to the top 10 drivers in the series during the lengthy Friday night affair.

But this year is much different. I'm not so sure fans who wonder how they can afford Christmas gifts for the kids really want to see the rich get richer in this setting.

I'm not saying the banquet is a bad idea -- after all, this should be a night to honor Jimmie Johnson for becoming only the second driver to win the Cup three straight years, joining the great Cale Yarborough, who won from 1976 to '78. The Sprint Cup trophy itself signifies that perfectly in addition to the estimated $10 million the team will collect in New York.

But in the worst economic climate since The Great Depression it's just time to tone it down a little, that's all. There are several precedents to consider.

During the first Gulf War in 1991, both the NFL and the NBA made changes to the Super Bowl in Tampa and the NBA All-Star Game in Charlotte. The annual Commissioner's Party at the Super Bowl and the All-Star Game Party were toned down dramatically with music and entertainment acts scrapped to reflect the somber mood of a nation at war.

Seventeen years later in the city of Wall Street, it's time for NASCAR's banquet to reflect a similar mood.

Triple Crown for Indianapolis Motor Speedway

For the first time since IMS started hosting three major events eight years ago, the winner of each of this season's races won his respective series championship.

Scott Dixon won the Indianapolis 500 on May 25 and went on to clinch his second IndyCar Series title. Valentino Rossi won the Red Bull Grand Prix on Sept. 14, which propelled him to his sixth MotoGP World Championship. And when Jimmie Johnson clinched his third NASCAR title on Nov. 16, he added the final championship to Indy's unique "Triple Crown." Johnson, of course, won the AllState 400 at the Brickyard on July 27.

Ethanol Move Brings Some Heat

Two weeks ago, the IndyCar Series announced that it would stop using corn-based ethanol produced in the United States for sugar-based ethanol made in Brazil.

On the surface, that move drew some criticism from, among others, The Wall Street Journal.

But the IndyCar Series explained why the move was made.

"The IndyCar Series is proud to be fueled by ethanol, a renewable energy fuel," said Terry Angstadt, president of the commercial division of the Indy Racing League. "For the last three years, ethanol has been the official fuel as a result of a sponsorship agreement with the ethanol producers and EPIC, the Ethanol Promotion and Information Council.

"The ethanol producers recently notified the IndyCar Series that it would not be renewing the agreement for 2009 and beyond and EPIC is ceasing operation. No one from any other part of the American-based ethanol community stepped forward with a substantial proposal.

"Soon after, the IndyCar Series and APEX-Brasil reached a preliminary agreement. As part of that agreement, we plan on starting our 2009 season with American-produced ethanol. Opportunities still exist for American ethanol companies and organizations to continue involvement in the IndyCar Series. The IndyCar Series is pleased to continue to be the only major American racing series fueled by 100 percent fuel grade ethanol. APEX will use the IndyCar platform to promote a variety of Brazilian products, services and opportunities, including ethanol. We look forward to working with American producers and Brazilian producers of ethanol to promote ethanol as a renewable energy source and part of the solution to lessen the United States' reliance on Middle Eastern oil."

On the surface, this would look like another move made by a series that needs to drape itself in the American flag more than the Brazilian flag. But upon further review, it was the only move the series could make because it is committed to running engines with the renewable fuel in its series.

A switch back to methanol would require a tremendous amount of cost from its engine supplier, Honda. So in this case, signing an agreement with the Brazilian ethanol producers is one that just makes the most sense.