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Rolex Signs Multiyear Extension With DIS That Will Put Name On New Lounge Level

Rolex has signed a multiyear extension with Daytona Int'l Speedway that sees it continue as title sponsor of the Rolex 24 and earn naming rights to the track's new frontstretch lounge and suite level being built as part of Daytona Rising. The brand announced the news Friday, a day before the IMSA sports car event begins. DIS President Joie Chitwood III would not reveal terms of the extension, but noted they represent a "growth in the relationship, for sure." Chitwood noted that the two sides, which negotiated the extension over a number of months, still had a couple of years remaining on their prior deal. But once DIS execs explained what was going on as part of Daytona Rising, the $400M facility renovation that will be completed next year, the watch maker wanted to get more integrated. Chitwood: "We weren't going to go to them with something that we didn't think fit their brand. We knew that if we were going to show them something, these were likely the only things that really fit who they are. ... Obviously, that's a level where we're going to have VIPs and significant corporate partners. So for the Rolex brand to be part of that kind of high-profile area on the property, it fits the brand no differently than the type of racing they partner with, which is sports car racing: Porsches, Ferraris and Corvettes -- a little bit on that higher end."

WATCH AND LEARN: At the new lounge and suite level, the company is going to focus its branding on the Rolex 24 name. That can be seen in the conceptual renderings of the lounge, which show green panels around the area that feature white Rolex 24 Lounge lettering. Chitwood said that as part of the pact, DIS execs also are looking at adding more Rolex clocks around the property, which already has some Rolex clocks in its infield. Chitwood added that Rolex likely will have some hospitality assets within the lounge level as part of the deal, on top of its current hospitality area at the 500 Club. Rolex was the first company that DIS execs showed the lounge level to. As far as activation around this weekend's Rolex 24, Chitwood said that the watch maker has a lot of its execs in town for the event and has the usual large amount of branding around the facility. Many of the execs will attend Friday night's grand marshal dinner.

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