IndyCar Series Hoping New Excitement Will Attract Title Sponsor
The IndyCar Series still is without a title sponsor, but series officials hope that "rising television ratings and burgeoning fan interest will attract a company that can provide money and marketing muscle," according to John Russell of the INDIANAPOLIS STAR. IndyCar officials said that the series is in "serious talks with five companies and is shopping its message to others." The goal is to secure a five-year title sponsorship contract before the end of this year. The series recently hired Indianapolis-based Just Marketing to "help shop for a sponsor," and IndyCar Series officials indicated that they are "working hard to seize the moment." The officials want a sponsor that "will get excited about building a marketing program of its own around the series -- not just shell out a few million bucks and have a hands-off approach." Russell writes some "likely candidates are technology companies, energy drinks, financial services and fast-foot restaurants," though officials are not naming potential companies. Univ. of Oregon Warsaw Sports Marketing Center Managing Dir Paul Swangard: "If I was a salesperson, I'd say the series is in a good position of strength to start with. That's the positive" (INDIANAPOLIS STAR, 5/23). IRL Commercial Division President Terry Angstadt said that as many as 20 companies this weekend will be at the race and "at least one company has said it would like to begin serious negotiations about a naming rights deal immediately after the race." The IRL also is "close to announcing a deal for an exclusive clothing sponsor" (WASHINGTON TIMES, 5/20).
DESPERATELY WANTING: SI.com's Tim Tuttle wrote the IndyCar Series "desperately needs a high profile and active marketing partner to invest in the series and also needs funding to increase its point fund and purses." While the IndyCar Series champion receives $1M, NASCAR's Sprint Cup Series winner receives "about five times more" (SI.com, 5/22). In a sports-section cover story for USA TODAY, Nate Ryan writes there are "signs IndyCar is revving for a comeback. ... Big-ticket sponsors, such as Coca-Cola and McDonald's, are returning and forming partnerships to promote drivers with the advertising and news media blitz that propelled NASCAR." Interest in the series "has grown" since the Champ Car-IRL unification earlier this year, and the series also has signed deals with Frank's Energy Drink and DirecTV. Angstadt said that images of IRL divers Graham Rahal and Justin Wilson later this year "will appear on McDonald's cups for a race tie-in" (USA TODAY, 5/23).
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