SBD/February 25, 2011/Marketing and Sponsorship

IndyCar Team De Ferran Dragon Racing Closes For Lack Of Sponsorship

Gil De Ferran says he could not make IndyCar team work financially
IndyCar team de Ferran Dragon Racing “closed operations Thursday because of a lack of sponsorship” after four years in operation, according to Curt Cavin of the INDIANAPOLIS STAR. Team co-Owner Gil de Ferran said, "I couldn't figure out an equation where there wasn't an ounce of uncertainty and financial risk." Earlier this week, it was “confirmed Tony Kanaan, the driver who committed to de Ferran's team in December, didn't have enough sponsorship to run.” Kanaan is “looking for a new team for the season that begins in a month.” Also to be determined is “the partial-season program of Davey Hamilton, who planned to return to de Ferran Dragon.” The team was founded in '07 by Steve Luczo and Jay Penske (INDIANAPOLIS STAR, 2/25). Kanaan said, “It’s a shame because we worked really hard the past couple months to try and find funding and I had 88 meetings with people looking for sponsorship.” SPEEDTV.com’s Robin Miller noted Kanaan “may be able to hook up with Dale Coyne but there’s not many options remaining.” There had been talk that de Ferran Dragon “might run a partial schedule,” but Kanaan “opted not to.” He said, “Believe me, we looked at every scenario available, half a season, Indy, some races near the end but I couldn’t build a case for it” (SPEEDTV.com, 2/24).
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