Report: Verizon close to deal to become IndyCar title sponsor


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.

Newgarden fastest as Castroneves returns in weather-shortened Barber test

Photo: IndyCar
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The Verizon IndyCar Series took to Barber Motorsports Park on Tuesday for an open test, with 24 entries tackling the 2.38-mile road course.

Weather intervened in the afternoon, preventing nearly the entire field from going out, but the weather held off during the morning enough for one session to be run in its entirety.

Team Penske’s Josef Newgarden led the way, with a quick lap of 1:07.979, ahead of Team Penske teammates Will Power and Helio Castroneves. For Castroneves, this marked his first IndyCar outing of 2018.

Helio Castroneves was back in an IndyCar on Tuesday at Barber Motorsports Park. Photo: IndyCar

Sporting the Pennzoil “yellow submarine” paint scheme, Castroneves turned 41 laps around Barber in the morning session, with a quick lap of 1:08.315. He was also the only driver to venture out on track in the afternoon, completing eight laps.

The Dale Coyne Racing duo of Sebastien Bourdais and Zachary Claman De Melo completed the top five.

Results are below.