Mar 7, 2014, 3:00 PM EST
The Sports Business Journal is reporting that Verizon and IndyCar are close to a deal that would see the telecommunications giant be named IndyCar’s title sponsor.
Per sources who spoke to the SBJ, Verizon would commit to spend approximately $10M a year in rights, activation and media. The length of the deal would be 10 years, valued at $100M.
Quite honestly, the move would make sense on so many levels that to my occasionally skeptical eye, I wasn’t sure a deal like this could actually happen. Because in theory, back in September when news of IZOD’s departure was confirmed, I thought a Verizon title sponsorship would be simply too good to be true.
If it happens, Verizon’s activation will be the key to the partnership, between retail stores and ad promotion and other outlets where they can promote.
They can promote a “speed” aspect – both in terms of its actual 4G LTE service and Internet speed – and with the comparison of IndyCar’s top speeds (230mph-plus) versus NASCAR’s (200mph-plus), with their title sponsor still Sprint.
For five years, Verizon has been among the most active in the motorsports sponsorship business with Roger Penske’s organization. It entered with Will Power on a part-time deal in 2009, before it became a full-time sponsor in 2010.
In 2013, Verizon signage was visible on all rear wheel guards in the field, and Verizon has also stepped up to sponsor the pole award – now officially known as the Verizon P1 Award.
This year, Verizon’s presence on cars will not only be for a full-season for Power, but for eight races on Juan Pablo Montoya‘s No. 2 car and at all three cars at the inaugural Grand Prix of Indianapolis (Power, JPM and Helio Castroneves) May 10.
The company works with Indianapolis-based Just Marketing International, JMI for short, on its motorsports sponsorships.
Jan 29, 2015, 1:00 PM EST
British youngster will combine this role with a full season in GP2 with DAMS.
Jan 29, 2015, 12:10 PM EST
The 2014 Xfinity Series champion will make his Sprint Cup debut in March before moving full time to NASCAR’s premier series in 2016.
Dover Motorsports Inc. releases earnings report, sets sale of Nashville Superspeedway for end of February
Jan 29, 2015, 11:51 AM EST
Dover Motorsports Inc., one of only two independent track ownership groups in NASCAR, released its fourth quarter and yearly earnings report on Thursday. That included significant news on the pending sale of the DMI-owned Nashville Superspeedway.
Jan 29, 2015, 11:20 AM EST
After a winless 2014, wins are the priority for Richard Childress Racing in 2015.
Jan 29, 2015, 11:00 AM EST
Nico Rosberg takes the new Mercedes for a spin at Silverstone, and the team is not afraid to show it off.
Jan 29, 2015, 10:59 AM EST
Sherry Pollex, girlfriend of Martin Truex Jr., passes milestone in recovery from ovarian cancer.
Jan 29, 2015, 10:35 AM EST
Having gone through some professional and personal struggles in 2014, Martin Truex expects a much better second season with Furniture Row Racing in 2015.
Jan 29, 2015, 9:30 AM EST
Motorsport director Paul Hembery announces that there will be just one design overhaul of the existing compounds.
Jan 29, 2015, 8:30 AM EST
The Italian team will launch its 2015 car on Saturday ahead of the first winter test in Jerez.
Jan 28, 2015, 9:34 PM EST
NASCAR on NBC’s Jeff Burton reaches out to fans during an impromptu Twitter Q&A.
Jan 28, 2015, 7:30 PM EST
IndyCar’s James Hinchcliffe raves about the year-on-year improvements by the SpeedSource Mazda program.
Jan 28, 2015, 6:30 PM EST
Team Penske’s Tim Cindric discusses the “known quantity” of Brian Barnhart.
Jan 28, 2015, 5:54 PM EST
Richard Childress Racing announced it has added two female drivers to its driver development program, including the daughter of driver-turned-broadcaster Wally Dallenbach Jr.
Jan 28, 2015, 5:15 PM EST
Take a look at a day in the life of Verizon IndyCar Series driver Josef Newgarden during the offseason.
Jan 28, 2015, 5:00 PM EST
Although he’s looking ahead to the 2015 season, Brad Keselowski did a bit of reminiscing Wednesday.
Jan 28, 2015, 4:30 PM EST
After breakout 2014, Logano looks ahead to an even better third year with Team Penske.
Jan 28, 2015, 4:15 PM EST
IndyCar’s preseason driver meeting just might reveal some clues about who could fill the remaining seats left for 2015.
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