IndyCar CEO Randy Bernard yesterday said the series’ relationship with Izod is “great” and he is “confident” the clothier will continue as the series’ title sponsor through the ‘15 season, according to Anthony Schoettle of the INDIANAPOLIS BUSINESS JOURNAL. IndyCar is “in the third year of a six-year title sponsorship deal with Izod,” and the deal includes “two two-year extension options.” There has been "speculation that Izod wants out" of its IndyCar sponsorship as many of Izod’s IndyCar-centric TV ads and in-store promotions “disappeared this year." But Bernard maintains that Izod “is doing as much advertising and series promotions this year as it was a year ago.” Bernard: “They’re spreading their spending around more this year, but the thought that they’re spending less on advertising and promotion this year is completely wrong.” Schoettle notes IndyCar has “approached two of its existing sponsors, Verizon and Firestone, about becoming the open-wheel race series’ presenting sponsor,” something first reported by SportsBusiness Journal last month. A source said that the deal “could be worth $3 million annually.” Sources said that series officials are “pitching a multi-year deal in the high seven-figure range plus an advertising commitment to the series’ television partners, ABC and NBC Sports Network.” The officials said that “at least one other company not currently involved in the IndyCar Series also has been pitched the idea of becoming the presenting sponsor.” Sources said that part of the pitch to potential presenting sponsors “would allow the presenting sponsor to replace Izod as the series’ title sponsor at some point in the future.” Meanwhile, despite the IndyCar Series schedule being cut to 15 this year with the cancellation of the race in China, Bernard said that the number of races on the schedule “won’t be a problem next year.” Bernard: “We want 19 races on the schedule next year, and I think that’s realistic. Sixteen races is too short. The ideal number in two years is 22 races. We think it’s easier to carry and create momentum when you have 22 races” (IBJ.com, 7/3).
