Verizon Makes It Official, Signs 10-Year Contract To Title Sponsor IndyCar Series
10-year deal worth $10M annually (THE DAILY). In Indianapolis, Curt Cavin cites a source as saying that the Verizon deal "includes a significant promotional commitment." That is something IndyCar "desperately needs." Cavin: "The beauty of this is that everyone knows Verizon, and millions have its phones in their hands every day. This is not an apparel company that some people choose to wear, it's not an Internet search engine or an auto parts retailer -- companies that once were title sponsors of IndyCar. This is a communications giant, and it's clear Verizon knows how to promote its products." He adds there likely will be a "ripple effect" from Verizon coming on board, as "other companies will be more likely to join a sports organization that has such a strong primary backer" (INDYSTAR.com, 3/14).