acura
Acura this afternoon will formally announce it has acquired the title sponsorship of the Grand Prix of Long Beach, replacing a longtime deal with Toyota that ended last year. Terms of the Acura deal are not being disclosed, but sources said it is in the low seven figures annually and is for multiple years. Acura confirmed it will represent its single largest marketing expenditure in motorsports. The Grand Prix on April 12-14 includes an NTT IndyCar Series race, IMSA race, other lower-level races and an automotive expo.
Acura VP & GM Jon Ikeda said that Honda's luxury brand bought the entitlement because it has been pushing into racing both with its car designs and a new IMSA program in recent years, “and this seemed like the next logical step for us.” Moreover, Honda and Acura are based in nearby Torrance, Calif., and Acura has 20 dealerships in Southern California. Ikeda said that Honda decided to have its luxury brand take the title partnership because Honda already has a strong brand association with the event thanks to its IndyCar teams winning many races there. Honda will get some activation space alongside Acura at the expo.
