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.
Apr 19, 2015, 2:30 PM EDT
Watch the third round of the Indy Lights season today at 3 p.m. ET on NBCSN.
Apr 19, 2015, 2:15 PM EDT
Elements to look out for in the third race of the IndyCar season, at Long Beach.
Apr 19, 2015, 2:00 PM EDT
A spirited effort from the German driver falls flat as a brake problem leaves him third at the end of the race.
Apr 19, 2015, 1:42 PM EDT
Josef Newgarden fastest in IndyCar morning warmup.
Apr 19, 2015, 1:30 PM EDT
Raikkonen rallies to second place in Bahrain, marking his first podium finish since the 2013 Korean Grand Prix.
Apr 19, 2015, 1:13 PM EDT
British driver holds on to win the Bahrain Grand Prix for the second time despite a last lap brake scare.
Apr 19, 2015, 12:49 PM EDT
NBC News’ Kerry Sanders goes for a two-seater lap with Mario Andretti at Long Beach.
Apr 19, 2015, 12:44 PM EDT
Defending world champion dominates proceedings in Bahrain to finish ahead of Kimi Raikkonen and Nico Rosberg.
Apr 19, 2015, 12:00 PM EDT
Indonesian driver clinches his first victory in the GP2 Series at the 70th attempt.
Apr 19, 2015, 10:15 AM EDT
Mercedes and Ferrari prepare to duel in the desert on Sunday. Join us on NBCSN and Live Extra from 10:30am ET for all of the action from the Bahrain International Circuit.
Apr 19, 2015, 9:30 AM EDT
Lewis Hamilton will lead the grid away in Bahrain on Sunday ahead of Sebastian Vettel and Nico Rosberg.
Apr 19, 2015, 8:45 AM EDT
Watch a sneak preview of today’s episode as we hear from local racer Daniel Ricciardo on his home race weekend.
Apr 19, 2015, 8:00 AM EDT
Starting from pole position, Hamilton goes in search of his third win of the season in Bahrain.
Apr 18, 2015, 10:00 PM EDT
Beretta’s Ferrari to start up front for Round 5 of season.
Apr 18, 2015, 9:15 PM EDT
Newgarden qualifies sixth for Long Beach race, best outside IndyCar’s established “power trio.”
Apr 18, 2015, 9:05 PM EDT
With 1-2-5 in qualifying at Long Beach, Team Penske’s hot streak on Saturdays continues to open 2015.
Apr 18, 2015, 8:49 PM EDT
Polesitting entries bring it home Saturday at Long Beach for the TUDOR Championship.
Apr 18, 2015, 8:15 PM EDT
Scott Dixon hopes for success at Long Beach, a track he considers a “thorn in the side.”
Apr 18, 2015, 8:05 PM EDT
Ryan Hunter-Reay begins rebound from NOLA wreck by qualifying fourth in Long Beach.
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