 Phillips-Van Heusen Corporation announced a multi-year agreement in principle with the Indy Racing League, the sanctioning body for the IndyCar Series, for its IZOD brand to become the title sponsor of the newly renamed IZOD 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:
o Increased and enhanced national media initiatives with IRL’s two television partners – ESPN on ABC and VERSUS
o 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
“The combination of young, dynamic drivers representing over 14 countries, events in key domestic and global markets and its strong American racing heritage make the IndyCar Series a perfect fit for the sport-spirited IZOD brand lifestyle,” said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen. “Our involvement with the IRL began shortly after the unification of U.S. open-wheel racing and, despite the recession, we have seen growth and sense the potential for even greater opportunity as the sport is re-energized on the American sports landscape, as well as abroad. We’re excited at the opportunity to become the title sponsor of the IZOD IndyCar Series and look forward to taking our partnership with the fastest form of motorsport in the world, along with its ‘cars and stars’, to a new level of marketing and activation both on and off the track.”
“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.”
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