What is the appeal of the sponsorship?
If I paid for a tiny ad on a NASCAR racer's car, I can get a tax break and get some exposure. Most of you out there probably don't watch NASCAR, but the drivers and the announcers are always saying the big company name. For instance (pretend I am speaking in a Southern accent), a driver will say "At around lap 9, I saw the Wal-Mart Chevy coming up on my right, but I knew my Cingular Ford would have enough the inside track so I won't worried." Or something like that. Plus, the racers will wear the sponser's logo 24-7. And in the case of NASCAR, fans of the driver are usually loyal to their brand. I don't watch NASCAR, but I do know that much. However, I do like watching some of the neat cameras angles they get, they have cameras behind and in front of the car, all with the corporate logo in plain sight.
This is a big deal, because now AT&T will have to find some other thing to plaster their logo on, or pay a lot more tax.