REFILE-Chrysler puts motorsports program under review

(Refiles to fix typo in headline)

* No cuts planned for 2010 at this point

* Chrysler spent estimated $30-35 mln on NASCAR in '09

* Toyota withdraws from F1 racing

By Ben Klayman

CHICAGO, Nov 4 (Reuters) - Chrysler has put its motorsports
program, which includes NASCAR, under review as part of a
restructuring announced on Wednesday, but does not plan to cut
spending at this time.

"We're going to be more focused this time in NASCAR, we're
going from two teams to one team," Dodge CEO Ralph Gilles said
at the company's headquarters outside Detroit.

However, no cuts for the 2010 racing season are planned at
this time, spokesman Dan Reid said. Chrysler cut its
NASCAR-related spending this year by about a third by dropping
some track sponsorships and reducing race-team expenses.

The latest planned cutbacks by Chrysler were part of a
strategic plan outlined by Fiat (FIA.MI) CEO Sergio Marchionne,
who also leads Chrysler, which filed for bankruptcy earlier
this year. [ID:nN0421635]

NASCAR and most motorsports have been hurt this year as
fans and corporate backers slashed spending amid the
recession.

Chrysler, General Motors Co [GM.UL], Ford Motor Co (F.N)
and Toyota Motor Corp (7203.T) all reduced their spending on
NASCAR, including in some cases ending track or race-team
sponsorships. On Wednesday, Toyota withdrew from Formula One
racing to save an estimated $300 million annually.
[ID:nT151120]

At NASCAR's peak, GM spent as much as $130 million on the
sport, Ford less than $100 million and Chrysler less than that,
estimated Peter DeLorenzo, publisher of website
www.autoextremist.com. Chrysler spent around $50 million in
2008 and cut that to a range of $30 million to $35 million this
year, he added.

In putting its motorsports program under review, Gilles
said Chrysler thought it was "missing out on the grass-roots
motorsports."

A focus on grass-roots means more of an emphasis on
semi-professional and amateur racing where drivers race cars
that can be purchased from a showroom as opposed to the
custom-made cars used in NASCAR, Reid said.

Chrysler sponsored seven cars this year in the top Sprint
Cup race series with Penske Racing and Richard Petty
Motorsports. Next year, it will sponsor three Sprint cars and
two cars in the lower-level Nationwide Series with Penske, Reid
said. The Sprint deal runs through 2012, while the Nationwide
one is a multiyear deal.

Chrysler also will remain the official automotive sponsor
for two races at the track in Talladega, Alabama, Reid said. It
also will continue to sponsor a National Hot Rod Association
driver through its Mopar parts business.
(Reporting by Ben Klayman, additional reporting by Joe
Winterbottom and Scott Malone in Detroit, editing by Matthew
Lewis)