IndyCar Series, Speedway projecting big revenue increases
Hulman & Co. officials are projecting 20-percent to 25-percent gains in ticket and sponsorship sales this year over last. But it's still not clear if the open-wheel series will be profitable.
Hulman & Co. officials are projecting 20-percent to 25-percent gains in ticket and sponsorship sales this year over last. But it's still not clear if the open-wheel series will be profitable.
The motorsports marketing firm representing Verizon says the wireless communication firm won't be like past IndyCar Series title sponsors Pep Boys, Northern Light and Izod.
As key sales staffers depart company, Hulman & Co. CEO Mark Miles continues to launch groundbreaking sales initiatives to bolster the IndyCar Series and Indianapolis Motor Speedway.
The IndyCar Series’ quest to find a presenting sponsor that could eventually replace Izod as title sponsor—a task series officials earlier this year called their top sales priority—has taken a blow.
A Florida-based sports marketing firm had claimed in a lawsuit that it was owed million of dollars in commissions for landing the clothing brand as the league’s title sponsor.
Florida-based CV Sports Marketing Inc. alleges in a lawsuit that the IRL and Indianapolis Motor Speedway could owe millions of dollars in fees relating to its role in landing Izod as a title sponsor.
On Monday, Roger Penske's IndyCar team said Izod will become the primary sponsor for the No. 6 car, driven by Ryan Briscoe, at the Indianapolis 500 and several other races, and will be an associate sponsor for all three cars for the 2011 season.
Izod officials said that in 2010, Izod brand awareness increased 10 percentage points, brand familiarity rose 16 percent among 25- to 35-year-old men, and digital impressions increased 20 percent over 2009.
New IndyCar Series CEO Randy Bernard needs to attract more fans as TV ratings slip and networks and sponsors get antsy. Izod,
in the first year of a six-year contract, hopes strategically deployed glitterati will help rev up interest.
Jeff Belskus, CEO of the Indianapolis Motor Speedway, called the sponsorship deal “one of the most significant announcements
in the history
of the IndyCar series.”
IndyCar officials are expected to announce Thursday that clothing maker Izod will become the series’ title sponsor next season.
New York-based Phillips-Van Heusen Corp. will roll out its Izod/Indy race-inspired clothing collection in Macy’s stores nationwide in April.