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CONCORD — Lowe's will not renew its naming-rights deal at Lowe's Motor Speedway after this year.

The Sports Business Journal is reporting that the home improvement retailer will end its 11-year relationship with the track that was the first naming-rights deal with a racetrack.

The initial 10-year, $35 million deal ran through 2008 and was extended for one year.

Citing unnamed sources, the business publication said Lowe's informed Speedway Motorsports Inc., the track’s parent company, of its decision within the past two weeks.

The track is expected to return to its former name, Charlotte Motor Speedway, in 2010.

The publication said industry sources said SMI initially asked for $9 million per year — more than twice of the current $3.5 million per year deal.

Complicating negotiations are Lowe's relationship with three-time defending NASCAR Sprint Cup champion Jimmie Johnson and its struggles in the current economy.

The Lowe's deal with Johnson and Hendrick Motorsports expires in 2010, and the publication said Lowe's will have to pay more to remain at Johnson's sole primary sponsor. Top NASCAR sponsorships cost about $25 million per year.

Lowe's first-quarter earnings for 2009 were down 21.6 percent and overall sales were down 1.5 percent compared to the first quarter of 2008. Its stocked price dropped from a 52-week high of $28.49 to $13 in March before it rebounded to over $21 per share.

Lowe's decision leaves only two racetracks with sponsorship deals: Infineon Technologies has had naming rights to the Sonoma, Calif., road course since 2002, and the Automobile Club of Southern California signed a deal with the track in Fontana, Calif., last year.

SMI owns Infineon Raceway, while International Speedway Corp. owns the Fontana track.