Nationwide replaces Budweiser at NASCAR

Nationwide Insurance Co. has signed a seven-year deal in Charlotte, N.C., to become the title sponsor of American stock-car racing’s No. 2 series beginning in 2008. The series will be called the NASCAR Nationwide Series.

Nationwide replaces Anheuser-Busch, the maker of Budweiser beer that has sponsored the series in the National Association for Stock Car Auto Racing for 26 seasons.

The deal is believed to be between $10 million and $12 million a year.