By Bruce Martin
November 5, 2009
INDIANAPOLIS – Calling it one of the “biggest days in IndyCar Series history” IZOD was unveiled as the series sponsor Thursday amid tremendous fanfare at the Indianapolis Motor Speedway.
The clothing company introduced its six-year title sponsorship of IndyCar with an impressive runway that included models dressed in IndyCar and IZOD clothing before culminating with Mike Kelly, the executive vice president of marketing for Philip Van Heusen (PVH) announcing that from this point forward it will be the “IZOD IndyCar Series.”
The six-year sponsorship package includes $100,000 per car up to 24-25 cars given to the team owner in the series. The rest of the $10 million-plus that will be spent each season will go to activation of the series as well as marketing and promotion with mainstream media and series partners including VERSUS.
“As of today the premier form of open-wheel racing will be known as the IZOD IndyCar Series,” said Jeff Belskus, the CEO of the Indianapolis Motor Speedway, Corporation which owns the IndyCar Series. “The fresh perspective they bring to our sport will prove powerful. “This is the start of a new day for us. Teaming up with a strong brand like IZOD shows the bright future that we have. This is one of the most significant n in the history of the IndyCar Series. IZOD, one of the best-known brands in America and today we are proud to introduce them as our title sponsor.”
The addition of a title sponsor to one of VERSUS premier properties was hailed by Jamie Davis, president of VERSUS.
“After having just completed an extremely successful first year of coverage, we look forward to entering the second year of our multi-year partnership with a new title sponsor for the IndyCar Series,” said Jamie Davis, president of VERSUS. “IZOD extending their commitment to the sport, combined with VERSUS’ in-depth and all-encompassing coverage, is grea t news for the league and will further elevate the position and profile of the IZOD IndyCar Series.”
Kelly saw tremendous value in aligning his company with the IndyCar Series when IZOD joined as the official apparel company in July 2008. From that point, he moved forward to increase the company’s involvement to an even greater role.
“How cool is this,” Kelly said. “It is an amazing day for us. We couldn’t be prouder. The partnership has been amazing. Sixteen months ago we were at Watkins Glen on the Fourth of July and announced that day we were the official apparel sponsor for the IndyCar Series. On that day we saw nothing but growth and opportunity for the League. That declared our commitment and we see nothing but growth.
“This is an amazing sport and we believe with our partners we can take this out into popular culture and move it forward.We’re committed to six years plus. We are sure everything will be going well there and we will exercise an option. We don’t disclose the money but anyone who was around in 2009 saw that we spent well into the millions. We activated aggressively in the major markets and minor markets. We were one of the most aggressive buyers on ABC/ESPN and on VERSUS. We are committed to that and then some in the years to come.”
The fact IndyCar was able to get a series sponsor despite the economic downturn that began in September 2008 makes this one of the great success stories in sports.
“I’m not an economist; I’m a marketer,” Kelly said. “We have not pulled back on our brands. While our competition has pulled back on their spend we have not and it is bearing fruit for us. Our brand is carried in department stores across the country and they are excited about Indy. We have allowed them to work with our teams and put the assets on display. We will work with our partners to bring visibility to the sport. We’re looking to market the cars and the stars.”
On Thursday, IZOD unveiled a huge billboard in Times Square in New York City to announce its deal with IndyCar.
"Mike has become a true believer in our sport,” said Brian Barnhart, the president of competition for the IndyCar Series. “It truly is a great match for us. Speed will play a key marketing point in our strategy. The series combination of young, dynamic drivers representing 14 countries along with the great American heritage make the IndyCar Series a perfect fit. It’s outside the motorsports realm and they are committed to working with us.
“We are on the fast track and we are very excited about the future. The best thing will be the activation aspect of it. They are going to increase the amount of eyeballs on the sport. It’s been a long time since we’ve had a title sponsor and the first legitimate title sponsor we’ve had The fact it’s somebody outside the motorsports realm, takes us into people’s living rooms that may not be race fans. I think it will be a great match for both organizations.“They bring a marketing expertise that we’ve never had before.”
IndyCar driver Ryan Hunter-Reay has a personal services contract with IZOD and has been the face of the marketing campaign for the company in the sport. Hunter-Reay is close to a deal that will put move him over to Michael Andretti’s four-car team with sponsorship supplied by IZOD.
“It has been amazing since I first met Mike,” Hunter-Reay said of his involvement. “He was shooting all these crazy ideas out there and going for it. I know this is going somewhere great. Looking at it from a driver’s perspective, this is what we’ve been waiting for. This is a fresh start for the IndyCar Series. To have that accompanied w8ith the IndyCar Series is absolutely amazing. The sky is the limit for the IndyCar Series.”
The IZOD IndyCar Series, which will mark the League’s first title sponsorship since 2001, introduced its new logo and key partnership details today, with additional activation, promotional plans and marketing initiatives to be revealed in the coming months, prior to the start of the 2010 season.
Under the new arrangement, IZOD will also retain its designation as the official apparel partner of the Indy Racing League, which began in 2008. Key elements of the agreement are expected to include:
* Multi-year, multi-million dollar activation plans and brand-building efforts around the IZOD IndyCar Series intended to broaden the promotion of the sport both off the track and beyond its traditional audience. These include:
-Increased and enhanced national media initiatives with IRL’s two television partners – ESPN on ABC and VERSUS
-Access to drivers and 100 years’ worth of motorsports assets and graphics from the Indianapolis Motor Speedway Hall of Fame Museum, including current and vintage cars, for both on- and off-track events, both in and out of race markets.
-Multi-year, multi-million dollar commitment to participate in the IZOD IndyCar Series Team Enhancement/Allocation Matrix (TEAM) fund. Introduced in 2008, TEAM provides a guaranteed financial foundation for all teams committed to running the entire IZOD IndyCar Series schedule.
-Shared Web initiatives and online promotions
* Rights to use one of the most dynamic marketing events in all of sports – two parade laps in the IZOD IndyCar Series two-seater at the start of the Indianapolis 500 and other selected races –providing a one-of-a-kind experience to an IZOD-selected VIP or fan sweepstakes winner.
“Our relationship with the IZOD brand has been on the fast track since the day we began our partnership in 2008, and we are thrilled they have taken a bigger and more vital role in our sport,” said Terry Angstadt, president of the Commercial Division of the Indy Racing League. “Their strong marketing skills, national retail partnerships and ability to bring fresh eyes to the sport have already proven powerful in our short time together. We’re confident that we have found a partner with a strong brand, a bright future and a vision for growing the IZOD IndyCar Series that will benefit fans, drivers, teams, owners and tracks.”
