Mar 7, 2014, 3:00 PM EDT
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.
Jul 2, 2015, 12:26 PM EDT
What if The Rolling Stones’ concert set list at IMS was specifically inspired by recent IndyCar events? We ponder the possibilities.
Jul 2, 2015, 10:44 AM EDT
A Power outage, JPM and Marco’s quiet rolls, and other IndyCar nuggets of note leaving Fontana.
Jul 2, 2015, 10:00 AM EDT
Four driver changes ahead of this weekend’s round at Silverstone.
Jul 2, 2015, 9:00 AM EDT
Can Lewis Hamilton make it a homecoming to remember by scoring his third British Grand Prix victory at Silverstone?
Jul 1, 2015, 7:00 PM EDT
Mark Miles discussed Fontana, Milwaukee, Road America and more.
Jul 1, 2015, 5:53 PM EDT
The CEO of IndyCar discussed the challenges of putting together an extended series schedule.
Jul 1, 2015, 5:30 PM EDT
TV times across the board for this weekend’s British Grand Prix at Silverstone.
Jul 1, 2015, 4:59 PM EDT
Could penalties be coming to drivers who speak out about IndyCar’s on-track product? Mark Miles flips some pancakes on the possibility.
Jul 1, 2015, 4:03 PM EDT
Will Power fined, put on probation after shoving safety official during Saturday’s race.
Jul 1, 2015, 2:42 PM EDT
In a surprise move, the NHRA announced Wednesday that president Tom Compton has retired after 15 years as the sanctioning body’s chief executive officer
Jul 1, 2015, 1:54 PM EDT
The provisional winner of the Pikes Peak International Hill Climb is Rhys Millen.
Jul 1, 2015, 12:30 PM EDT
The CFH Racing co-owner says IndyCar will never grow if “we’re tearing it apart from the inside out.”
Jul 1, 2015, 11:02 AM EDT
One of A.J. Foyt’s young drivers makes some wiser points beyond his years about Saturday’s race in Fontana.
Jul 1, 2015, 9:00 AM EDT
Sauber names a new technical director.
Jun 30, 2015, 6:01 PM EDT
Feature on Manpower to Horsepower to air during Red Bull GRC show this Sunday on NBC.
Jun 30, 2015, 1:47 PM EDT
A selection of images from the 2015 Goodwood Festival of Speed.
Jun 30, 2015, 12:00 PM EDT
SH Rallycross’ HAUS livery for Red Bull GRC this weekend screams red, white and blue.
Jun 30, 2015, 10:52 AM EDT
Given how well they’ve run this year, it was really only a matter of time until Graham Rahal and Rahal Letterman Lanigan Racing won a race.
Jun 30, 2015, 10:30 AM EDT
Luca Filippi and Matthew Brabham set for oval tests this Wednesday at Iowa Speedway.
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- Here are your British Grand Prix air times on CNBC, NBCSN, Live Extra 0
- Miles: After “two-sided pancake” Fontana race, IndyCar may crack down against stakeholder comments 10
- IndyCar issues penalties and fines following MAVTV 500 at Fontana 2
- NHRA shakeup: Tom Compton retires as president, Peter Clifford named successor 6
- Ed Carpenter: driver criticism of IndyCar ‘confusing for fans’ 18
- Hawksworth: “I wouldn’t say it was crazy; it was exciting” 2