The Indianapolis Motor Speedway (IMS) and Pennzoil announced
yesterday that Pennzoil has become the official motor oil of the
IMS, the Indianapolis 500 and the Indy Racing League. Pennzoil
and IMS began discussions upon Valvoline ending its exclusive
relationship with IMS on Friday. They agreed over the weekend to
a multi-year relationship which will provide Pennzoil with a
dominant presence at the Speedway. Elements of the agreement
include track signage, Gasoline Alley presence, and sponsorship
of a major attraction in May within Indy FanFest, the Speedway's
on-site interactive "500" theme park. Further terms were not
released. Pennzoil is also one of five official sponsors for
Indy's Brickyard 400 NASCAR race. Pennzoil Senior VP/Marketing
Thomas Floyd said the agreement gives Pennzoil a presence at the
three "top" motorsports events -- the Indy 500, Brickyard 400 and
Indy 500 pole day. Floyd said Pennzoil is equally pleased to be
official motor oil of the new IRL: "Indianapolis racing is in
its greatest growth mode ever, and it's our intent to capitalize
on that growth in the oil retailing marketplace" (IMS).
DUAL SPONSORSHIP: IMS spokesperson Bob Walters told THE
DAILY that "it doesn't matter" that Pennzoil is also a sponsor of
CART's U.S. 500. Walters: "It was not our choice to have
sponsors brought into some of the political things going on
[between IRL and CART]." Pennzoil spokesperson Carolyn Magnuson
noted the chance to sponsor IMS was a "never-before-available
opportunity," and she added that when there is a resolution
between CART and IRL, "We'll be in a good position" (THE DAILY).
