Bank of America Pays A Reported $20 Million for Official Bank Status

NASCAR fans have proven their loyalty to sponsors which is why millions flow to owners each year in lucrative sponsorship deal. Bank of America, based out of Charlotte, North Carolina has signed a five-year deal to be the official bank of NASCAR.

This also includes all banking and related financial services, checking and savings accounts, credit and debit cards, mutual funds and securities brokerage services.

Bank of America is also the "official bank" for baseball.