Beer Run: Steelback Replaces Molson In Toronto Grand Prix

The Champ Car World Series’ Toronto Grand Prix formally announced that Ontario-based Steelback Brewery has signed a five-year sponsorship deal “that ends more than two decades of association with Molson,” according to Dean McNulty of the TORONTO SUN. Sources said that the deal is “worth about [C$2.5M] in cash and an equal amount in promotional costs over the five-year period,” compared to Molson’s C$2M annual deal. Toronto Grand Prix President & CEO Charlie Johnstone said beyond the sponsorship fee, Steelback’s “commitment to promotion and advertising on top of that makes this deal a good one.” Johnstone also said that Steelback Brewery President & CEO Frank D’Angelo is “committed in the new contract to increasing Steelback’s contribution to the event in each of the next five years.” Johnstone: “Will this deal cover the whole cost of the event? That’s not going to happen.” Meanwhile, D’Angelo “promised to tone down his trademark advertising gimmicks.” D’Angelo: “We’ll still be out there. Expect the first of our promotions to roll out in the next few weeks” (TORONTO SUN, 3/14).