It was a one year deal. I don't know the particulars, but I imagine Speed was agreeing to provide the air time only, and for a fee. The responsibility to produce the show is not on Speed Channel. That falls on the SCCA to find a sponsor to pay for the show, which is then contracted out to a production company, last year was Marty Reid, and the year before was Replica Productions.
Obviously, someone (?) ponied up the cash to at least shoot Sno Drift, but so far, no one has paid to actually produce a show. I am sure Garett Mudd was blindsided by the manufacturers pulling out, and is now trying to get some sponsors to pay for TV...Let's have faith in him to find a sponsor to get the coverage back on.
Russ