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.
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Feb 26, 2015, 8:15 AM EST
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Feb 25, 2015, 2:45 PM EST
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Feb 25, 2015, 11:27 AM EST
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Feb 25, 2015, 10:15 AM EST
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Feb 25, 2015, 8:52 AM EST
Fernando Alonso is out of the hospital after his testing crash last week.
Feb 25, 2015, 8:30 AM EST
Nick Tandy will embark on a program of LMP1, LMP2 and GT Le Mans in 2015, with KCMG confirmation in WEC.
Feb 25, 2015, 8:22 AM EST
Force India confirms Friday car debut for the new VJM08.
Feb 25, 2015, 8:10 AM EST
Manor seeks to make Melbourne race appearance and confirms its first driver.
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