Honda has signed an agreement with the Verizon IndyCar Series to remain "one of the open-wheel series' two engine manufacturers" through '17, with an option to extend the deal through '20, according to Anthony Schoettle of the INDIANAPOLIS BUSINESS JOURNAL. The deal "took nearly 18 months of negotiations to get done." Sources said that Honda officials during those discussions "voiced concerns over technical and competitive issues concerning the series." Much of the talks also "centered on how much Honda would spend in advertising during races and to otherwise promote the series." Sports marketers estimate Honda spends as much as $5M annually to "promote the series and its relationship with it." In addition to "continuing as a manufacturer in the IndyCar Series, Honda retains title sponsorship rights" for three events on the schedule -- Barber Motorsports Park in April and July races in Toronto and Mid-Ohio (IBJ.com, 2/2). Honda Performance Development President Art St. Cyr said, "We want to race, and this is a premiere series in North America, so it's very important for us to have a presence in this type of racing." The AP's Michael Marot noted Honda has "won 217 IndyCar races over two decades and was the sole engine supplier for six of the last 13 years." It has "competed against Chevrolet for the past five seasons" (AP, 2/2). USA TODAY's Brant James noted Chevy "won 10 of 16 events last season ... and filled four of the top five spots in driver points." However, Honda "claimed four of the last six" races (USATODAY.com, 2/2).
