Pep Boys already had a one-year sponsorship agreement with speedway officials in 2007 and renewed for another two years in 2008.
The company also argues the Auto Club Speedway in California had hosted the Labor Day weekend race since 2004 and struggled to sell tickets. In comparison, the October race at the Atlanta Motor Speedway didn't have that problem, the lawsuit states.
Pep Boys' suit also said that after renewing its sponsorship, the company saw that the return on its investment from the 2007 fall race wasn't what it expected, and it told speedway officials to find another sponsor for this year's event.
Ed Clark, president and general manager of the Atlanta Motor Speedway, said he could not comment, citing pending litigation. But he said the revenue loss hasn't hurt the Labor Day weekend race, which is scheduled to be held at night.
He said ticket sales for the event are up compared with sales for the fall race last October. Pep Boys' attorneys also declined to comment, citing the pending suits.